Ralph Lauren Corp Raised to Neutral at Zacks (RL)
Ralph Lauren Corp (NYSE:RL) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a research note issued on Tuesday. The firm currently has a $178.00 target price on the stock. Zacks‘s price target suggests a potential upside of 4.73% from the company’s current price.
Zacks’ analyst wrote, “We upgrade our recommendation on Ralph Lauren to Neutral as we remain encouraged by its better-than-expected first-quarter fiscal 2015 bottom-line results. The quarter’s performance demonstrates significant progress in the company’s strategic initiatives targeting long-term growth. The quarter was also characterized by double-digit revenue growth at the international and e-commerce businesses indicating momentous recognition of the company’s brands globally. However, the company continues to project a slowdown in sales and a decline in margins in fiscal 2015 due to its ongoing investments toward enhancement of its global retail operations and infrastructure as well as higher capital allotments to augment advertising and marketing. This in turn limits earnings growth potential during fiscal 2015, keeping us on the sidelines. “
Ralph Lauren Corp (NYSE:RL) traded down 0.56% during mid-day trading on Tuesday, hitting $169.00. The stock had a trading volume of 427,183 shares. Ralph Lauren Corp has a 52 week low of $141.93 and a 52 week high of $181.07. The stock has a 50-day moving average of $160.9 and a 200-day moving average of $157.5. The company has a market cap of $14.863 billion and a P/E ratio of 20.48.
Ralph Lauren Corp (NYSE:RL) last announced its earnings results on Wednesday, August 6th. The company reported $1.80 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $1.94 earnings per share. Ralph Lauren Corp’s revenue was up 3.3% compared to the same quarter last year. On average, analysts predict that Ralph Lauren Corp will post $8.68 earnings per share for the current fiscal year.
In other Ralph Lauren Corp news, major shareholder Family L.L.C. Lauren sold 50,000 shares of the stock on the open market in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $169.48, for a total transaction of $8,474,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
Several other analysts have also recently commented on the stock. Analysts at Janney Montgomery Scott raised their price target on shares of Ralph Lauren Corp from $171.00 to $177.00 in a research note on Monday, August 11th. They now have a “buy” rating 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, August 7th. They now have a $180.00 price target on the stock, up previously from $165.00. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Ralph Lauren Corp presently has a consensus rating of “Buy” and a consensus price target of $169.71.
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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