Perry Ellis International (NASDAQ:PERY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The brokerage currently has a $28.00 price objective on the textile maker’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 15.65% from the stock’s current price.
According to Zacks, “Perry Ellis International, Inc. is a leading designer, distributor and licensor of a broad line of high quality men’s and women’s apparel, accessories, and fragrances. The company’s collection of dress and casual shirts, golf sportswear, sweaters, dress and casual pants and shorts, jeans wear, active wear and men’s and women’s swimwear is available through all major levels of retail distribution. The company, through its wholly owned subsidiaries, owns a portfolio of nationally and internationally recognized brands including Perry Ellis, Jantzen, Cubavera, Munsingwear, Savane, Original Penguin, Grand Slam, Natural Issue, Pro Player, the Havanera Co., Axis, Tricots St. Raphael, Gotcha, Girl Star and MCD. The company enhances its roster of brands by licensing trademarks from third parties including Dockers for outerwear, Nike and JAG for swimwear, and PING and PGA TOUR for golf apparel. “
Several other brokerages have also issued reports on PERY. FBR & Co set a $25.00 target price on shares of Perry Ellis International and gave the company a “buy” rating in a research note on Monday, August 21st. Ifs Securities reaffirmed an “outperform” rating on shares of Perry Ellis International in a research note on Tuesday, October 31st. KeyCorp reaffirmed a “neutral” rating on shares of Perry Ellis International in a research note on Friday, September 29th. BidaskClub lowered shares of Perry Ellis International from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. Finally, B. Riley reaffirmed a “buy” rating on shares of Perry Ellis International in a research note on Wednesday, November 1st. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $30.00.
Perry Ellis International (NASDAQ PERY) traded down $0.16 on Tuesday, reaching $24.21. 92,000 shares of the company’s stock traded hands, compared to its average volume of 97,575. The firm has a market cap of $381.83, a PE ratio of 12.83 and a beta of 0.62. The company has a quick ratio of 2.13, a current ratio of 3.56 and a debt-to-equity ratio of 0.27. Perry Ellis International has a 52-week low of $16.35 and a 52-week high of $29.00.
Perry Ellis International (NASDAQ:PERY) last issued its earnings results on Thursday, November 30th. The textile maker reported $0.25 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.25. The company had revenue of $198.80 million for the quarter, compared to analyst estimates of $199.40 million. Perry Ellis International had a net margin of 3.05% and a return on equity of 8.95%. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.23 EPS. sell-side analysts expect that Perry Ellis International will post 2.15 EPS for the current fiscal year.
In related news, insider Luis S. Paez sold 3,812 shares of Perry Ellis International stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $21.55, for a total transaction of $82,148.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Stanley P. Silverstein sold 13,507 shares of Perry Ellis International stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $22.11, for a total transaction of $298,639.77. The disclosure for this sale can be found here. 22.20% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in PERY. Vanguard Group Inc. raised its holdings in Perry Ellis International by 12.8% during the 1st quarter. Vanguard Group Inc. now owns 664,127 shares of the textile maker’s stock worth $14,266,000 after buying an additional 75,397 shares during the period. Allianz Asset Management GmbH raised its holdings in Perry Ellis International by 143.7% during the 3rd quarter. Allianz Asset Management GmbH now owns 87,800 shares of the textile maker’s stock worth $2,077,000 after buying an additional 51,765 shares during the period. ClariVest Asset Management LLC raised its holdings in Perry Ellis International by 19.4% during the 2nd quarter. ClariVest Asset Management LLC now owns 264,941 shares of the textile maker’s stock worth $5,156,000 after buying an additional 43,000 shares during the period. Ameriprise Financial Inc. raised its holdings in Perry Ellis International by 46.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 121,617 shares of the textile maker’s stock worth $2,367,000 after buying an additional 38,753 shares during the period. Finally, SG Capital Management LLC acquired a new stake in Perry Ellis International during the 3rd quarter worth approximately $755,000. 72.39% of the stock is currently owned by institutional investors and hedge funds.
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About Perry Ellis International
Perry Ellis International, Inc is an apparel company. The Company designs, sources, markets and licenses its products nationally and internationally at multiple price points and across all levels of retail distribution. It operates through four segments: Men’s Sportswear and Swim, Women’s Sportswear, Direct-to-Consumer and Licensing.
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