Ralph Lauren Corporation (RL) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Ralph Lauren Corporation (NYSE:RL) from a hold rating to a buy rating in a research report released on Tuesday. Zacks Investment Research currently has $97.00 target price on the textile maker’s stock.

According to Zacks, “Ralph Lauren outperformed the industry in the past three months, backed by solid bottom line performance in recent quarters. Notably, first-quarter fiscal 2018 marked the company’s 10th consecutive earnings beat. Further, management remains impressed with first-quarter performance, as the company enhanced quality of sales by reducing promotions and markdowns, alongside reducing SKU count to drive productivity. Also, it managed to curtail inventory levels and also achieved cost savings by lowering operating costs. These factors, which also drove margins, clearly reflect Ralph Lauren’s focus on its Way Forward Plan and Restructuring activities. However, sales continue to be hurt by weak demand, brand exits and efforts to drive sales quality. The company continues to face currency woes which are likely to hurt second-quarter results. Nonetheless, efforts to evolve product and marketing bode well. Estimates have been trending up lately.”

A number of other research analysts have also commented on RL. Wells Fargo & Company reissued an outperform rating and set a $75.00 price target on shares of Ralph Lauren Corporation in a report on Monday, June 12th. BidaskClub raised Ralph Lauren Corporation from a sell rating to a hold rating in a report on Friday, June 16th. Royal Bank Of Canada reissued a hold rating and set a $75.00 price target on shares of Ralph Lauren Corporation in a report on Friday, July 7th. Piper Jaffray Companies reissued a sell rating and set a $66.00 price target on shares of Ralph Lauren Corporation in a report on Friday, July 14th. Finally, Buckingham Research reissued a neutral rating and set a $68.00 price target on shares of Ralph Lauren Corporation in a report on Monday, July 17th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Ralph Lauren Corporation has an average rating of Hold and a consensus target price of $87.37.

Ralph Lauren Corporation (NYSE RL) traded down 2.37% during trading on Tuesday, reaching $85.15. 150,600 shares of the company were exchanged. Ralph Lauren Corporation has a 52-week low of $66.06 and a 52-week high of $114.00. The stock’s market capitalization is $6.92 billion. The firm’s 50 day moving average is $88.75 and its 200 day moving average is $79.29.

Ralph Lauren Corporation (NYSE:RL) last issued its quarterly earnings results on Tuesday, August 8th. The textile maker reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.15. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.34 billion. Ralph Lauren Corporation had a positive return on equity of 13.80% and a negative net margin of 0.27%. The company’s quarterly revenue was down 13.2% compared to the same quarter last year. During the same period last year, the company earned $1.06 earnings per share. Analysts expect that Ralph Lauren Corporation will post $5.34 EPS for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be given a $0.50 dividend. The ex-dividend date is Thursday, September 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.29%. Ralph Lauren Corporation’s dividend payout ratio (DPR) is -869.57%.

Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in shares of Ralph Lauren Corporation by 26.7% in the 2nd quarter. BlackRock Inc. now owns 5,809,542 shares of the textile maker’s stock valued at $428,744,000 after purchasing an additional 1,225,845 shares during the period. Vanguard Group Inc. boosted its position in shares of Ralph Lauren Corporation by 9.5% in the 1st quarter. Vanguard Group Inc. now owns 5,708,885 shares of the textile maker’s stock valued at $465,959,000 after purchasing an additional 495,685 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Ralph Lauren Corporation by 378.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,400,915 shares of the textile maker’s stock valued at $324,786,000 after purchasing an additional 3,480,135 shares during the period. American Century Companies Inc. boosted its position in shares of Ralph Lauren Corporation by 10.8% in the 2nd quarter. American Century Companies Inc. now owns 1,423,333 shares of the textile maker’s stock valued at $105,042,000 after purchasing an additional 139,110 shares during the period. Finally, Global Thematic Partners LLC boosted its position in shares of Ralph Lauren Corporation by 13.3% in the 2nd quarter. Global Thematic Partners LLC now owns 681,935 shares of the textile maker’s stock valued at $50,327,000 after purchasing an additional 79,864 shares during the period. Institutional investors and hedge funds own

According to Zacks, “Ralph Lauren outperformed the industry in the past three months, backed by solid bottom line performance in recent quarters. Notably, first-quarter fiscal 2018 marked the company’s 10th consecutive earnings beat. Further, management remains impressed with first-quarter performance, as the company enhanced quality of sales by reducing promotions and markdowns, alongside reducing SKU count to drive productivity. Also, it managed to curtail inventory levels and also achieved cost savings by lowering operating costs. These factors, which also drove margins, clearly reflect Ralph Lauren’s focus on its Way Forward Plan and Restructuring activities. However, sales continue to be hurt by weak demand, brand exits and efforts to drive sales quality. The company continues to face currency woes which are likely to hurt second-quarter results. Nonetheless, efforts to evolve product and marketing bode well. Estimates have been trending up lately.”

A number of other research analysts have also commented on RL. Wells Fargo & Company reissued an outperform rating and set a $75.00 price target on shares of Ralph Lauren Corporation in a report on Monday, June 12th. BidaskClub raised Ralph Lauren Corporation from a sell rating to a hold rating in a report on Friday, June 16th. Royal Bank Of Canada reissued a hold rating and set a $75.00 price target on shares of Ralph Lauren Corporation in a report on Friday, July 7th. Piper Jaffray Companies reissued a sell rating and set a $66.00 price target on shares of Ralph Lauren Corporation in a report on Friday, July 14th. Finally, Buckingham Research reissued a neutral rating and set a $68.00 price target on shares of Ralph Lauren Corporation in a report on Monday, July 17th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Ralph Lauren Corporation has an average rating of Hold and a consensus target price of $87.37.

Ralph Lauren Corporation (NYSE RL) traded down 2.37% during trading on Tuesday, reaching $85.15. 150,600 shares of the company were exchanged. Ralph Lauren Corporation has a 52-week low of $66.06 and a 52-week high of $114.00. The stock’s market capitalization is $6.92 billion. The firm’s 50 day moving average is $88.75 and its 200 day moving average is $79.29.

Ralph Lauren Corporation (NYSE:RL) last issued its quarterly earnings results on Tuesday, August 8th. The textile maker reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.15. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.34 billion. Ralph Lauren Corporation had a positive return on equity of 13.80% and a negative net margin of 0.27%. The company’s quarterly revenue was down 13.2% compared to the same quarter last year. During the same period last year, the company earned $1.06 earnings per share. Analysts expect that Ralph Lauren Corporation will post $5.34 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: This piece was first published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece on another website, it was stolen and reposted in violation of international copyright & trademark legislation. The correct version of this piece can be read at https://ledgergazette.com/2017/10/11/ralph-lauren-corporation-rl-upgraded-by-zacks-investment-research-to-buy.html.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be given a $0.50 dividend. The ex-dividend date is Thursday, September 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.29%. Ralph Lauren Corporation’s dividend payout ratio (DPR) is -869.57%.

Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in shares of Ralph Lauren Corporation by 26.7% in the 2nd quarter. BlackRock Inc. now owns 5,809,542 shares of the textile maker’s stock valued at $428,744,000 after purchasing an additional 1,225,845 shares during the period. Vanguard Group Inc. boosted its position in shares of Ralph Lauren Corporation by 9.5% in the 1st quarter. Vanguard Group Inc. now owns 5,708,885 shares of the textile maker’s stock valued at $465,959,000 after purchasing an additional 495,685 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Ralph Lauren Corporation by 378.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,400,915 shares of the textile maker’s stock valued at $324,786,000 after purchasing an additional 3,480,135 shares during the period. American Century Companies Inc. boosted its position in shares of Ralph Lauren Corporation by 10.8% in the 2nd quarter. American Century Companies Inc. now owns 1,423,333 shares of the textile maker’s stock valued at $105,042,000 after purchasing an additional 139,110 shares during the period. Finally, Global Thematic Partners LLC boosted its position in shares of Ralph Lauren Corporation by 13.3% in the 2nd quarter. Global Thematic Partners LLC now owns 681,935 shares of the textile maker’s stock valued at $50,327,000 after purchasing an additional 79,864 shares during the period. Institutional investors and hedge funds own 62.88% of the company’s stock.

About Ralph Lauren Corporation

Ralph Lauren Corporation is engaged in the design, marketing and distribution of lifestyle products, including apparel, accessories, home furnishings and other licensed product categories. The Company operates through three segments: Wholesale, Retail and Licensing. Wholesale business consists of sales made to department stores and specialty stores around the world.

Analyst Recommendations for Ralph Lauren Corporation (NYSE:RL)

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