Atlantic Securities upgraded shares of Ralph Lauren Corporation (NYSE:RL) from an underweight rating to a neutral rating in a report issued on Wednesday, Marketbeat.com reports. The brokerage currently has $93.00 price target on the textile maker’s stock, up from their prior price target of $68.00.
Other analysts have also recently issued research reports about the company. BidaskClub raised Ralph Lauren Corporation from a hold rating to a buy rating in a research report on Wednesday, June 28th. ValuEngine cut Ralph Lauren Corporation from a buy rating to a hold rating in a research report on Friday, June 2nd. Zacks Investment Research raised Ralph Lauren Corporation from a sell rating to a hold rating in a research report on Tuesday, May 9th. Royal Bank Of Canada reaffirmed a hold rating and set a $75.00 price target on shares of Ralph Lauren Corporation in a research report on Friday, July 7th. Finally, Cowen and Company reaffirmed a hold rating and set a $80.00 price target (up previously from $78.00) on shares of Ralph Lauren Corporation in a research report on Tuesday, July 18th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $88.56.
Ralph Lauren Corporation (RL) traded down 0.07% during midday trading on Wednesday, hitting $83.78. The stock had a trading volume of 1,573,352 shares. Ralph Lauren Corporation has a 52-week low of $66.06 and a 52-week high of $114.00. The company’s 50 day moving average price is $75.13 and its 200-day moving average price is $77.11. The stock’s market cap is $6.84 billion.
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, topping the Zacks’ 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 company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the previous year, the firm posted $1.06 EPS. The firm’s revenue was down 13.2% compared to the same quarter last year. Analysts forecast that Ralph Lauren Corporation will post $5.18 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were issued a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $2.00 dividend on an annualized basis and a yield of 2.39%. Ralph Lauren Corporation’s payout ratio is -869.57%.
A number of institutional investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its position in Ralph Lauren Corporation by 7.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,368 shares of the textile maker’s stock worth $101,000 after buying an additional 96 shares during the last quarter. Intellectus Partners LLC boosted its position in Ralph Lauren Corporation by 18.2% in the first quarter. Intellectus Partners LLC now owns 1,300 shares of the textile maker’s stock worth $107,000 after buying an additional 200 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new position in Ralph Lauren Corporation during the first quarter worth $110,000. Daiwa Securities Group Inc. boosted its position in Ralph Lauren Corporation by 21.4% in the first quarter. Daiwa Securities Group Inc. now owns 1,700 shares of the textile maker’s stock worth $139,000 after buying an additional 300 shares during the last quarter. Finally, Pacer Advisors Inc. raised its stake in Ralph Lauren Corporation by 97.0% in the first quarter. Pacer Advisors Inc. now owns 1,988 shares of the textile maker’s stock valued at $162,000 after buying an additional 979 shares during the period. 58.45% of the stock is owned by 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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