Zacks Investment Research Lowers Perry Ellis International Inc. (PERY) to Hold

Perry Ellis International Inc. (NASDAQ:PERY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

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 analysts have also recently weighed in on PERY. KeyCorp reiterated a “hold” rating on shares of Perry Ellis International in a report on Thursday, August 24th. BidaskClub cut shares of Perry Ellis International from a “hold” rating to a “sell” rating in a report on Friday, August 18th. FBR & Co reiterated an “outperform” rating and issued a $25.00 price target on shares of Perry Ellis International in a report on Tuesday, July 11th. TheStreet cut shares of Perry Ellis International from a “b-” rating to a “c+” rating in a report on Friday, August 18th. Finally, ValuEngine cut shares of Perry Ellis International from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $28.25.

Perry Ellis International (NASDAQ PERY) opened at 22.30 on Wednesday. The firm has a market cap of $336.15 million, a P/E ratio of 19.53 and a beta of 0.65. The company’s 50 day moving average is $20.29 and its 200-day moving average is $20.10. 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 released its quarterly earnings results on Thursday, August 24th. The textile maker reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.06. The business had revenue of $206.60 million for the quarter, compared to analysts’ expectations of $204.97 million. Perry Ellis International had a net margin of 2.08% and a return on equity of 9.05%. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.15 earnings per share. On average, equities analysts predict that Perry Ellis International will post $2.15 EPS for the current fiscal year.

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In other news, insider Stanley P. Silverstein sold 13,507 shares of the business’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $22.11, for a total transaction of $298,639.77. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 20.20% of the company’s stock.

Several hedge funds have recently made changes to their positions in PERY. Teachers Advisors LLC boosted its holdings in shares of Perry Ellis International by 11.5% during the 4th quarter. Teachers Advisors LLC now owns 21,232 shares of the textile maker’s stock valued at $529,000 after buying an additional 2,184 shares in the last quarter. Nationwide Fund Advisors boosted its holdings in shares of Perry Ellis International by 32.9% during the 1st quarter. Nationwide Fund Advisors now owns 84,701 shares of the textile maker’s stock valued at $1,819,000 after buying an additional 20,981 shares in the last quarter. Strs Ohio boosted its holdings in shares of Perry Ellis International by 17.5% during the 1st quarter. Strs Ohio now owns 30,200 shares of the textile maker’s stock valued at $648,000 after buying an additional 4,500 shares in the last quarter. Great West Life Assurance Co. Can boosted its holdings in shares of Perry Ellis International by 11.6% during the 1st quarter. Great West Life Assurance Co. Can now owns 15,641 shares of the textile maker’s stock valued at $336,000 after buying an additional 1,629 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Perry Ellis International by 2.7% during the 1st quarter. American Century Companies Inc. now owns 222,236 shares of the textile maker’s stock valued at $4,774,000 after buying an additional 5,936 shares in the last quarter. Hedge funds and other institutional investors own 70.95% of the company’s stock.

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.

Analyst Recommendations for Perry Ellis International (NASDAQ:PERY)

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