Vetr Inc. Downgrades Ralph Lauren Corp. (RL) to Sell
Ralph Lauren Corp. (NYSE:RL) was downgraded by investment analysts at Vetr from a “hold” rating to a “sell” rating in a note issued to investors on Monday. They presently have a $99.66 price target on the stock. Vetr‘s target price indicates a potential downside of 3.25% from the company’s current price.
RL has been the subject of several other research reports. Piper Jaffray Cos. restated a “hold” rating on shares of Ralph Lauren Corp. in a report on Monday, June 13th. Cowen and Company restated a “market perform” rating and issued a $98.00 price target on shares of Ralph Lauren Corp. in a report on Wednesday, June 22nd. Deutsche Bank AG restated a “hold” rating and issued a $95.00 price target (up previously from $85.00) on shares of Ralph Lauren Corp. in a report on Wednesday, August 10th. Telsey Advisory Group boosted their price target on shares of Ralph Lauren Corp. from $105.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, August 11th. Finally, Goldman Sachs Group Inc. boosted their price target on shares of Ralph Lauren Corp. from $113.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, August 11th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Ralph Lauren Corp. presently has a consensus rating of “Hold” and a consensus target price of $110.63.
Shares of Ralph Lauren Corp. (NYSE:RL) opened at 103.01 on Monday. The company has a 50-day moving average of $102.21 and a 200 day moving average of $96.80. Ralph Lauren Corp. has a one year low of $82.15 and a one year high of $137.38. The stock has a market cap of $8.47 billion, a PE ratio of 28.15 and a beta of 1.17.
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Ralph Lauren Corp. (NYSE:RL) last released its quarterly earnings data on Wednesday, August 10th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.17. The company earned $1.55 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Ralph Lauren Corp. had a net margin of 4.22% and a return on equity of 14.50%. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.09 EPS. On average, analysts predict that Ralph Lauren Corp. will post $5.44 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $2.00 annualized dividend and a yield of 1.94%. Ralph Lauren Corp.’s dividend payout ratio is presently 55.25%.
A number of hedge funds have recently added to or reduced their stakes in RL. Trust Department MB Financial Bank N A increased its position in Ralph Lauren Corp. by 795.2% in the second quarter. Trust Department MB Financial Bank N A now owns 1,128 shares of the company’s stock valued at $149,000 after buying an additional 1,002 shares during the last quarter. Kazazian Asset Management LLC bought a new position in Ralph Lauren Corp. during the first quarter valued at about $111,000. Investment Counselors of Maryland LLC bought a new position in Ralph Lauren Corp. during the second quarter valued at about $141,000. Northwestern Mutual Wealth Management Co. increased its position in Ralph Lauren Corp. by 154.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,044 shares of the company’s stock valued at $183,000 after buying an additional 1,240 shares during the last quarter. Finally, Commonwealth Equity Services Inc bought a new position in Ralph Lauren Corp. during the second quarter valued at about $202,000. Institutional investors own 63.74% of the company’s stock.
Ralph Lauren Corp. Company Profile
Ralph Lauren Corporation is engaged in the design, marketing and distribution of lifestyle products, including apparel, accessories, home furnishings and other licensed product categories. The Company operates through three segments: Wholesale, Retail and Licensing. Wholesale business consists of sales made to department stores and specialty stores around the world.
To view Vetr’s full report, visit Vetr’s official website.
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