Ralph Lauren Corporation Rating Lowered to Neutral at Piper Jaffray Cos. (RL)
Ralph Lauren Corporation (NYSE:RL) was downgraded by Piper Jaffray Cos. from an “overweight” rating to a “neutral” rating in a research note issued on Tuesday, TheFlyOnTheWall.com reports. They currently have a $170.00 price target on the stock, down from their previous price target of $200.00. Piper Jaffray Cos.’s price objective would indicate a potential upside of 5.52% from the stock’s previous close.
The analysts wrote, “As we think about the RL stock (not the company) over the next 6-12 months, we are stepping to the sidelines, moving our rating from OW to Neutral ($170 PT). To be clear, we view RL as a core holding for the longer-term oriented investor (2 yrs+) as we believe global growth initiatives in China, accessories & the prospects for accelerated sq-ftage (Polo stores in Europe) will create margin expansion opportunities over time. That said, in the absence of a compelling apparel spending environment and with a multi-year investment cycle underway, we believe earnings upside could be more limited. We believe money flow will favor equities but expect investors will pay up for visibility in beat & raise stories as we navigate through the evolving global retail landscape.”
A number of other firms have also recently commented on RL. Analysts at Citigroup Inc. upgraded shares of Ralph Lauren Corporation to a “focus list” rating in a research note to investors on Wednesday, September 11th. They noted that the move was a valuation call. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Ralph Lauren Corporation in a research note to investors on Friday, August 30th. They now have a $174.00 price target on the stock. Finally, analysts at Ned Davis Research upgraded shares of Ralph Lauren Corporation from a “neutral” rating to a “buy” rating in a research note to investors on Monday, August 19th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $184.33.
Ralph Lauren Corporation (NYSE:RL) opened at 161.10 on Tuesday. Ralph Lauren Corporation has a 1-year low of $144.14 and a 1-year high of $192.03. The stock’s 50-day moving average is $166.2 and its 200-day moving average is $174.0. The company has a market cap of $14.576 billion and a price-to-earnings ratio of 20.37.
Ralph Lauren Corporation (NYSE:RL) last released its earnings data on Wednesday, August 7th. The company reported $1.94 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.94. The company had revenue of $1.70 million for the quarter, compared to the consensus estimate of $1.65 million. During the same quarter in the previous year, the company posted $2.03 earnings per share. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, analysts predict that Ralph Lauren Corporation will post $8.65 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, October 11th. Investors of record on Friday, September 27th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Wednesday, September 25th.
Ralph Lauren Corporation is engaged in the design, marketing and distribution of products, including men’s, women’s and children’s apparel, accessories (NYSE:RL), fragrances and home furnishings.
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