Ralph Lauren Corporation Upgraded to Overweight by Atlantic Securities (RL)
Ralph Lauren Corporation (NYSE:RL) was upgraded by research analysts at Atlantic Securities from a “neutral” rating to an “overweight” rating in a report released on Tuesday, TheFlyOnTheWall.com reports. The firm currently has a $187.00 price target on the stock. Atlantic Securities’ price target points to a potential upside of 20.45% from the stock’s current price. The analysts noted that the move was a valuation call.
In other Ralph Lauren Corporation news, Director Frank Bennack, Jr. sold 4,608 shares of the company’s stock on the open market in a transaction dated Thursday, February 6th. The stock was sold at an average price of $151.75, for a total value of $699,264.00. Following the transaction, the director now directly owns 8,918 shares in the company, valued at approximately $1,353,307. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of other firms have also recently commented on RL. Analysts at UBS AG cut their price target on shares of Ralph Lauren Corporation from $195.00 to $185.00 in a research note on Friday. They now have a “buy” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Ralph Lauren Corporation in a research note on Thursday, February 6th. They now have a $156.00 price target on the stock. Finally, analysts at Credit Suisse cut their price target on shares of Ralph Lauren Corporation to $185.00 in a research note on Thursday, February 6th. They now have an “outperform” rating on the stock. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $187.50.
Ralph Lauren Corporation (NYSE:RL) traded up 1.31% on Tuesday, hitting $157.28. 972,586 shares of the company’s stock traded hands. Ralph Lauren Corporation has a 52-week low of $146.00 and a 52-week high of $192.03. The stock’s 50-day moving average is $165.3 and its 200-day moving average is $169.3. The company has a market cap of $14.171 billion and a P/E ratio of 19.17.
Ralph Lauren Corporation (NYSE:RL) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $2.57 EPS for the quarter, beating the Thomson Reuters consensus estimate of $2.51 by $0.06. The company had revenue of $2.00 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter in the prior year, the company posted $2.40 earnings per share. The company’s quarterly revenue was up 9.2% on a year-over-year basis. Analysts expect that Ralph Lauren Corporation will post $8.44 EPS for the current fiscal year.
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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