Ralph Lauren (NYSE:RL – Get Free Report) had its target price lifted by investment analysts at Jefferies Financial Group from $325.00 to $365.00 in a research note issued to investors on Wednesday, Marketbeat reports. The firm currently has a “buy” rating on the textile maker’s stock. Jefferies Financial Group’s price target indicates a potential upside of 16.21% from the stock’s previous close.
Several other analysts have also issued reports on RL. Citigroup boosted their price objective on shares of Ralph Lauren from $250.00 to $295.00 and gave the company a “neutral” rating in a report on Friday, May 23rd. Barclays reduced their price objective on shares of Ralph Lauren from $360.00 to $353.00 and set an “overweight” rating on the stock in a report on Wednesday. Zacks Research upgraded shares of Ralph Lauren to a “strong-buy” rating in a research note on Tuesday, August 12th. Cowen reiterated a “buy” rating on shares of Ralph Lauren in a research note on Thursday, May 22nd. Finally, The Goldman Sachs Group boosted their price target on shares of Ralph Lauren from $262.00 to $324.00 and gave the stock a “buy” rating in a research note on Friday, May 23rd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $311.41.
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Ralph Lauren Stock Up 2.6%
Shares of RL opened at $314.09 on Wednesday. The firm has a market cap of $19.02 billion, a P/E ratio of 25.09, a price-to-earnings-growth ratio of 1.55 and a beta of 1.60. Ralph Lauren has a 12-month low of $176.61 and a 12-month high of $321.77. The company’s 50-day moving average price is $298.18 and its 200 day moving average price is $263.39. The company has a current ratio of 1.84, a quick ratio of 1.30 and a debt-to-equity ratio of 0.58.
Ralph Lauren (NYSE:RL – Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The textile maker reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.50 by $0.27. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.65 billion. Ralph Lauren had a net margin of 10.91% and a return on equity of 33.72%. Ralph Lauren’s revenue was up 13.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.70 EPS. On average, sell-side analysts forecast that Ralph Lauren will post 12.01 earnings per share for the current year.
Ralph Lauren announced that its board has authorized a stock buyback plan on Thursday, May 22nd that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the textile maker to purchase up to 8.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
Institutional Investors Weigh In On Ralph Lauren
Several large investors have recently modified their holdings of the company. Invesco Ltd. boosted its holdings 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 valued at $333,958,000 after acquiring an additional 275,391 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Ralph Lauren by 55.7% in the first quarter. AQR Capital Management LLC now owns 1,157,867 shares of the textile maker’s stock valued at $245,468,000 after acquiring an additional 414,275 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Ralph Lauren by 1.6% in the second quarter. Geode Capital Management LLC now owns 1,014,880 shares of the textile maker’s stock valued at $277,818,000 after acquiring an additional 15,785 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Ralph Lauren by 13.2% in the second 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 during the period. Finally, Orion Porfolio Solutions LLC boosted its holdings in shares of Ralph Lauren by 8,937.8% in the second quarter. Orion Porfolio Solutions LLC now owns 963,340 shares of the textile maker’s stock valued at $264,225,000 after acquiring an additional 952,681 shares during the period. 67.91% of the stock is owned by institutional investors and hedge funds.
Ralph Lauren Company Profile
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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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