Zacks Investment Research upgraded shares of Ralph Lauren (NYSE:RL) from a hold rating to a buy rating in a report released on Wednesday morning. They currently have $126.00 price objective on the textile maker’s stock.
According to Zacks, “Ralph Lauren outperformed the industry in the past six months backed by robust bottom-line performance in recent quarters. Notably, third-quarter fiscal 2018 marked the company’s 12th consecutive earnings beat while sales lagged estimates after a beat in the previous quarter. Additionally, the company’s Way Forward Plan is on track, and it remains keen on bolstering digital and international presence. Also, the company has been gaining from favorable geographic and channel mix shifts along with lower promotions and reduced product costs. Further, management adjusted fiscal 2018 outlook to account for the positive currency rates, which are likely to aid revenues and operating margins. However, its North America business continues to suffer due to distribution and brand exits, planned reduction in shipments and promotions to enhance the quality of sales, and lower customer demand.”
Several other research firms also recently weighed in on RL. ValuEngine upgraded shares of Ralph Lauren from a hold rating to a buy rating in a research note on Friday, February 2nd. Royal Bank of Canada reiterated a hold rating and issued a $113.00 target price on shares of Ralph Lauren in a research note on Friday, February 2nd. Bank of America lifted their target price on shares of Ralph Lauren from $80.00 to $95.00 and gave the stock an underperform rating in a research note on Friday, February 2nd. Cowen upgraded shares of Ralph Lauren from a market perform rating to an outperform rating and reduced their target price for the stock from $119.33 to $66.06 in a research note on Thursday, March 22nd. Finally, Piper Jaffray set a $109.00 target price on shares of Ralph Lauren and gave the stock a sell rating in a research note on Tuesday, January 30th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $99.00.
Shares of RL stock opened at $111.15 on Wednesday. The stock has a market capitalization of $9,296.21, a price-to-earnings ratio of 19.47, a P/E/G ratio of 1.83 and a beta of 0.64. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.58 and a current ratio of 2.07. Ralph Lauren has a 52 week low of $66.06 and a 52 week high of $119.33.
Ralph Lauren (NYSE:RL) last announced its quarterly earnings data on Thursday, February 1st. The textile maker reported $2.03 EPS for the quarter, topping the consensus estimate of $1.87 by $0.16. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. Ralph Lauren had a negative net margin of 1.33% and a positive return on equity of 14.64%. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.86 earnings per share. research analysts predict that Ralph Lauren will post 5.98 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 13th. Investors of record on Thursday, March 29th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, March 28th. This represents a $2.00 annualized dividend and a yield of 1.80%. Ralph Lauren’s dividend payout ratio is currently 35.03%.
A number of large investors have recently modified their holdings of RL. New York State Common Retirement Fund grew its stake in Ralph Lauren by 6.9% during the third quarter. New York State Common Retirement Fund now owns 144,900 shares of the textile maker’s stock valued at $12,793,000 after acquiring an additional 9,400 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Ralph Lauren by 12.9% during the third quarter. Russell Investments Group Ltd. now owns 42,961 shares of the textile maker’s stock valued at $3,793,000 after acquiring an additional 4,925 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Ralph Lauren by 17.2% during the third quarter. Dimensional Fund Advisors LP now owns 724,416 shares of the textile maker’s stock valued at $63,962,000 after acquiring an additional 106,099 shares in the last quarter. Stifel Financial Corp purchased a new position in Ralph Lauren during the third quarter valued at approximately $810,000. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in Ralph Lauren by 3.7% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 22,700 shares of the textile maker’s stock valued at $2,013,000 after acquiring an additional 800 shares in the last quarter. 73.64% of the stock is owned by institutional investors.
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Ralph Lauren Company Profile
Ralph Lauren Corporation designs, markets, and distributes lifestyle products worldwide. The company operates in three segments: North America, Europe, and Asia. It offers apparel, including a range of men's, women's, and children's clothing; accessories, which comprise footwear, eyewear, watches, fine jewelry, hats, belts, and leather goods, such as handbags and luggage; home products consisting of bedding and bath products, furniture, fabrics and wallpapers, lightings, paints, tabletops, and giftware; and fragrances.
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