Ralph Lauren (NYSE:RL – Get Free Report) had its price objective decreased by research analysts at Barclays from $360.00 to $353.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the textile maker’s stock. Barclays‘s price objective indicates a potential upside of 12.39% from the company’s current price.
A number of other equities research analysts have also weighed in on RL. Telsey Advisory Group boosted their target price on shares of Ralph Lauren from $315.00 to $335.00 and gave the stock an “outperform” rating in a report on Monday, August 4th. BMO Capital Markets boosted their price objective on shares of Ralph Lauren from $197.00 to $205.00 and gave the stock an “underperform” rating in a research note on Friday, May 23rd. JPMorgan Chase & Co. increased their price objective on Ralph Lauren from $355.00 to $406.00 and gave the company an “overweight” rating in a report on Monday, July 28th. Bank of America lifted their target price on Ralph Lauren from $318.00 to $328.00 and gave the stock a “buy” rating in a report on Friday, May 23rd. Finally, Zacks Research upgraded Ralph Lauren to a “strong-buy” rating in a research report on Tuesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $311.41.
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Ralph Lauren Price Performance
Shares of RL opened at $314.09 on Wednesday. Ralph Lauren has a 12-month low of $176.61 and a 12-month high of $321.77. The business has a 50-day simple moving average of $298.18 and a two-hundred day simple moving average of $263.39. The company has a quick ratio of 1.30, a current ratio of 1.84 and a debt-to-equity ratio of 0.58. The stock has a market cap of $19.02 billion, a PE ratio of 25.09, a PEG ratio of 1.55 and a beta of 1.60.
Ralph Lauren (NYSE:RL – Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The textile maker reported $3.77 EPS for the quarter, beating analysts’ consensus estimates of $3.50 by $0.27. Ralph Lauren had a return on equity of 33.72% and a net margin of 10.91%.The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period last year, the firm posted $2.70 earnings per share. The business’s revenue for the quarter was up 13.7% on a year-over-year basis. Analysts anticipate that Ralph Lauren will post 12.01 earnings per share for the current fiscal year.
Ralph Lauren announced that its board has approved a stock repurchase program on Thursday, May 22nd that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the textile maker to repurchase up to 8.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.
Hedge Funds Weigh In On Ralph Lauren
A number of hedge funds have recently added to or reduced their stakes in RL. Invesco Ltd. raised its stake in shares of Ralph Lauren by 22.3% in the first quarter. Invesco Ltd. now owns 1,512,903 shares of the textile maker’s stock worth $333,958,000 after purchasing an additional 275,391 shares during the last quarter. AQR Capital Management LLC grew its holdings in Ralph Lauren by 55.7% during the first quarter. AQR Capital Management LLC now owns 1,157,867 shares of the textile maker’s stock worth $245,468,000 after buying an additional 414,275 shares in the last quarter. Geode Capital Management LLC raised its position in Ralph Lauren by 1.6% in the 2nd quarter. Geode Capital Management LLC now owns 1,014,880 shares of the textile maker’s stock valued at $277,818,000 after buying an additional 15,785 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Ralph Lauren by 13.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,007,745 shares of the textile maker’s stock valued at $276,407,000 after acquiring an additional 117,494 shares in the last quarter. Finally, Orion Porfolio Solutions LLC boosted its holdings in Ralph Lauren by 8,937.8% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 963,340 shares of the textile maker’s stock worth $264,225,000 after acquiring an additional 952,681 shares during the last quarter. Institutional investors and hedge funds own 67.91% of the company’s stock.
About Ralph Lauren
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Ralph Lauren Corporation designs, markets, and distributes lifestyle products in North America, Europe, Asia, and internationally. The company offers apparel, including a range of men’s, women’s, and children’s clothing; footwear and accessories, which comprise casual shoes, dress shoes, boots, sneakers, sandals, eyewear, watches, fashion and fine jewelry, scarves, hats, gloves, and umbrellas, as well as leather goods, such as handbags, luggage, small leather goods, and belts; home products consisting of bed and bath lines, furniture, fabric and wallcoverings, floor coverings, lighting, tabletop, kitchen linens, floor coverings, dining, decorative accessories, and giftware; and fragrances.
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