Credit Suisse Group upgraded shares of Ralph Lauren Corporation (NYSE:RL) from a neutral rating to an outperform rating in a report published on Friday morning, Marketbeat reports. Credit Suisse Group currently has $111.00 target price on the textile maker’s stock.
Other equities analysts have also issued reports about the company. BidaskClub raised Ralph Lauren Corporation from a hold rating to a buy rating in a research note on Wednesday, June 28th. Macquarie raised Ralph Lauren Corporation to a buy rating and increased their price target for the company from $96.00 to $100.00 in a research note on Tuesday, September 5th. Royal Bank Of Canada reissued a hold rating and set a $75.00 price target on shares of Ralph Lauren Corporation in a research note on Friday, July 7th. ValuEngine lowered Ralph Lauren Corporation from a buy rating to a hold rating in a research note on Friday, June 2nd. Finally, Cowen and Company reissued a hold rating and set a $80.00 price target (up from $78.00) on shares of Ralph Lauren Corporation in a research note on Tuesday, July 18th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $89.56.
Shares of Ralph Lauren Corporation (NYSE:RL) opened at 92.15 on Friday. Ralph Lauren Corporation has a 52-week low of $66.06 and a 52-week high of $114.00. The company has a 50-day moving average price of $83.14 and a 200-day moving average price of $77.76. The company’s market cap is $7.49 billion.
Ralph Lauren Corporation (NYSE:RL) last released its earnings results on Tuesday, August 8th. The textile maker reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.15. Ralph Lauren Corporation had a positive return on equity of 13.80% and a negative net margin of 0.27%. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter last year, the business posted $1.06 earnings per share. The firm’s revenue was down 13.2% on a year-over-year basis. On average, equities analysts predict that Ralph Lauren Corporation will post $5.29 EPS for the current year.
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Hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Ralph Lauren Corporation by 7.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,368 shares of the textile maker’s stock worth $101,000 after acquiring an additional 96 shares during the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of Ralph Lauren Corporation during the 1st quarter worth approximately $110,000. Daiwa Securities Group Inc. lifted its stake in shares of Ralph Lauren Corporation by 21.4% during the 1st quarter. Daiwa Securities Group Inc. now owns 1,700 shares of the textile maker’s stock worth $139,000 after acquiring an additional 300 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of Ralph Lauren Corporation by 97.0% during the 1st quarter. Pacer Advisors Inc. now owns 1,988 shares of the textile maker’s stock worth $162,000 after acquiring an additional 979 shares during the last quarter. Finally, Engine Capital Management LLC bought a new stake in shares of Ralph Lauren Corporation during the 1st quarter worth approximately $163,000. 62.89% of the stock is owned by hedge funds and other institutional investors.
Ralph Lauren Corporation Company Profile
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.
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