Perry Ellis International Inc. (PERY) Upgraded to “Buy” at Zacks Investment Research
Perry Ellis International Inc. (NASDAQ:PERY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday. The brokerage presently has a $25.00 target price on the textile maker’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 13.79% from the company’s current price.
According to Zacks, “Perry Ellis International, Inc. is a leading designer, distributor and licensor of a broad line of high quality men’s and women’s apparel, accessories, and fragrances. The company’s collection of dress and casual shirts, golf sportswear, sweaters, dress and casual pants and shorts, jeans wear, active wear and men’s and women’s swimwear is available through all major levels of retail distribution. The company, through its wholly owned subsidiaries, owns a portfolio of nationally and internationally recognized brands including Perry Ellis, Jantzen, Cubavera, Munsingwear, Savane, Original Penguin, Grand Slam, Natural Issue, Pro Player, the Havanera Co., Axis, Tricots St. Raphael, Gotcha, Girl Star and MCD. The company enhances its roster of brands by licensing trademarks from third parties including Dockers for outerwear, Nike and JAG for swimwear, and PING and PGA TOUR for golf apparel. “
Several other equities analysts also recently weighed in on PERY. KeyCorp reiterated a “hold” rating on shares of Perry Ellis International in a research report on Thursday, August 24th. BidaskClub downgraded Perry Ellis International from a “hold” rating to a “sell” rating in a research report on Friday, August 18th. FBR & Co reiterated an “outperform” rating and set a $25.00 target price on shares of Perry Ellis International in a research report on Tuesday, July 11th. TheStreet downgraded Perry Ellis International from a “b-” rating to a “c+” rating in a research report on Friday, August 18th. Finally, ValuEngine downgraded Perry Ellis International from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $28.00.
Perry Ellis International (PERY) traded down 2.66% during mid-day trading on Friday, hitting $21.97. The company had a trading volume of 72,249 shares. The firm’s 50 day moving average is $19.71 and its 200 day moving average is $20.19. The company has a market capitalization of $331.18 million, a price-to-earnings ratio of 19.24 and a beta of 0.65. Perry Ellis International has a 52 week low of $16.35 and a 52 week high of $29.00.
Perry Ellis International (NASDAQ:PERY) last released its earnings results on Thursday, August 24th. The textile maker reported $0.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.06. The company had revenue of $206.60 million for the quarter, compared to the consensus estimate of $204.97 million. Perry Ellis International had a return on equity of 9.05% and a net margin of 2.08%. Perry Ellis International’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.15 earnings per share. On average, equities research analysts predict that Perry Ellis International will post $2.15 EPS for the current year.
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A number of large investors have recently bought and sold shares of PERY. JPMorgan Chase & Co. raised its holdings in Perry Ellis International by 62.6% during the first quarter. JPMorgan Chase & Co. now owns 398,800 shares of the textile maker’s stock valued at $8,566,000 after acquiring an additional 153,525 shares during the period. Vanguard Group Inc. raised its holdings in Perry Ellis International by 12.8% during the first quarter. Vanguard Group Inc. now owns 664,127 shares of the textile maker’s stock valued at $14,266,000 after acquiring an additional 75,397 shares during the period. Prudential Financial Inc. raised its holdings in Perry Ellis International by 169.3% during the first quarter. Prudential Financial Inc. now owns 116,685 shares of the textile maker’s stock valued at $2,506,000 after acquiring an additional 73,360 shares during the period. ClariVest Asset Management LLC raised its holdings in Perry Ellis International by 19.4% during the second quarter. ClariVest Asset Management LLC now owns 264,941 shares of the textile maker’s stock valued at $5,156,000 after acquiring an additional 43,000 shares during the period. Finally, Nordea Investment Management AB raised its holdings in Perry Ellis International by 28.5% during the first quarter. Nordea Investment Management AB now owns 185,900 shares of the textile maker’s stock valued at $3,993,000 after acquiring an additional 41,200 shares during the period. 71.09% of the stock is currently owned by institutional investors and hedge funds.
Perry Ellis International Company Profile
Perry Ellis International, Inc is an apparel company. The Company designs, sources, markets and licenses its products nationally and internationally at multiple price points and across all levels of retail distribution. It operates through four segments: Men’s Sportswear and Swim, Women’s Sportswear, Direct-to-Consumer and Licensing.
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