Ralph Lauren Corp Shares Gap Up on Analyst Upgrade (RL)
Ralph Lauren Corp (NYSE:RL) gapped up prior to trading on Monday after Janney Montgomery Scott raised their price target on the stock from $171.00 to $177.00, AR Network reports. The stock had previously closed at $159.98, but opened at $160.44. Janney Montgomery Scott currently has a fair value rating on the stock. Ralph Lauren Corp shares last traded at $162.48, with a volume of 394,101 shares changing hands.
Several other analysts have also recently commented on the stock. Analysts at Credit Suisse upgraded shares of Ralph Lauren Corp from a “neutral” rating to an “outperform” rating in a research note on Thursday. They now have a $180.00 price target on the stock, up previously from $165.00. Separately, analysts at Maxim Group reiterated a “buy” rating on shares of Ralph Lauren Corp in a research note on Thursday, May 15th. They now have a $203.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. cut their price target on shares of Ralph Lauren Corp from $170.00 to $152.00 in a research note on Tuesday, May 13th. They now have a “neutral” rating on the stock. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Ralph Lauren Corp currently has a consensus rating of “Buy” and an average target price of $169.08.
The stock has a 50-day moving average of $158.7 and a 200-day moving average of $156.7. The company has a market cap of $14.291 billion and a P/E ratio of 19.34.
Ralph Lauren Corp (NYSE:RL) last released its earnings data on Wednesday, August 6th. The company reported $1.80 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.78 by $0.02. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the company posted $1.94 earnings per share. The company’s quarterly revenue was up 3.3% on a year-over-year basis. Analysts expect that Ralph Lauren Corp will post $8.69 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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