Zacks Investment Research Lowers Perry Ellis International Inc. (PERY) to Hold
Perry Ellis International Inc. (NASDAQ:PERY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
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. “
A number of other equities research analysts also recently issued reports on PERY. Wunderlich reiterated a “buy” rating and issued a $35.00 price objective on shares of Perry Ellis International in a research report on Friday, May 19th. ValuEngine downgraded Perry Ellis International from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. FBR & Co reiterated an “outperform” rating and issued a $25.00 price objective on shares of Perry Ellis International in a research report on Tuesday, July 11th. BidaskClub downgraded Perry Ellis International from a “hold” rating to a “sell” rating in a research report on Friday, August 18th. Finally, TheStreet downgraded Perry Ellis International from a “b-” rating to a “c+” rating in a research report on Friday, August 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $28.00.
Shares of Perry Ellis International (NASDAQ PERY) traded down 2.66% during trading on Wednesday, hitting $21.97. The stock had a trading volume of 72,249 shares. Perry Ellis International has a 1-year low of $16.35 and a 1-year high of $29.00. The company has a market cap of $331.18 million, a PE ratio of 19.24 and a beta of 0.65. The firm’s 50 day moving average is $19.71 and its 200 day moving average is $20.19.
Perry Ellis International (NASDAQ:PERY) last issued its quarterly earnings data on Thursday, August 24th. The textile maker reported $0.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.06. Perry Ellis International had a return on equity of 9.05% and a net margin of 2.08%. The company had revenue of $206.60 million for the quarter, compared to the consensus estimate of $204.97 million. During the same quarter last year, the business posted $0.15 earnings per share. The firm’s revenue was up 2.5% compared to the same quarter last year. Equities research analysts anticipate that Perry Ellis International will post $2.15 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Perry Ellis International during the first quarter valued at about $122,000. Pacific Ridge Capital Partners LLC raised its position in Perry Ellis International by 30.0% during the first quarter. Pacific Ridge Capital Partners LLC now owns 36,790 shares of the textile maker’s stock valued at $790,000 after purchasing an additional 8,490 shares in the last quarter. Nine Chapters Capital Management LLC purchased a new stake in Perry Ellis International during the first quarter valued at about $346,000. ClariVest Asset Management LLC raised its position in Perry Ellis International by 23.4% during the first quarter. ClariVest Asset Management LLC now owns 221,941 shares of the textile maker’s stock valued at $4,768,000 after purchasing an additional 42,089 shares in the last quarter. Finally, Citadel Advisors LLC purchased a new stake in Perry Ellis International during the first quarter valued at about $389,000. Institutional investors and hedge funds own 71.09% of the company’s stock.
About Perry Ellis International
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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