Perry Ellis International Inc. (NASDAQ:PERY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The firm presently has a $26.00 target price on the textile maker’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 16.33% 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. “

A number of other research analysts have also recently weighed in on PERY. FBR & Co set a $25.00 price target on Perry Ellis International and gave the company a “buy” rating in a research report on Monday, August 21st. BidaskClub cut Perry Ellis International from a “hold” rating to a “sell” rating in a research report on Friday, August 18th. KeyCorp restated a “hold” rating on shares of Perry Ellis International in a research report on Thursday, August 24th. Wunderlich restated a “buy” rating and issued a $35.00 price target on shares of Perry Ellis International in a research report on Friday, May 19th. Finally, TheStreet cut 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 issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $28.25.

Shares of Perry Ellis International (PERY) opened at 22.35 on Friday. Perry Ellis International has a 52 week low of $16.35 and a 52 week high of $29.00. The firm’s 50-day moving average is $20.06 and its 200 day moving average is $20.17. The firm has a market cap of $336.90 million, a PE ratio of 19.57 and a beta of 0.65.

Perry Ellis International (NASDAQ:PERY) last released its quarterly earnings data on Thursday, August 24th. The textile maker reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.06. The firm had revenue of $206.60 million during the quarter, compared to analysts’ expectations 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 revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.15 earnings per share. Equities research analysts forecast that Perry Ellis International will post $2.15 EPS for the current year.

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In other news, insider Stanley P. Silverstein sold 13,507 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $22.11, for a total value of $298,639.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 22.20% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Perry Ellis International by 2.1% in the second quarter. Vanguard Group Inc. now owns 678,254 shares of the textile maker’s stock valued at $13,199,000 after buying an additional 14,127 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Perry Ellis International by 3.9% in the second quarter. JPMorgan Chase & Co. now owns 414,355 shares of the textile maker’s stock valued at $8,064,000 after buying an additional 15,555 shares in the last quarter. Northern Trust Corp increased its position in shares of Perry Ellis International by 1.8% in the second quarter. Northern Trust Corp now owns 366,702 shares of the textile maker’s stock valued at $7,137,000 after buying an additional 6,643 shares in the last quarter. State Street Corp increased its position in shares of Perry Ellis International by 5.3% in the second quarter. State Street Corp now owns 280,040 shares of the textile maker’s stock valued at $5,448,000 after buying an additional 13,982 shares in the last quarter. Finally, ClariVest Asset Management LLC increased its position in shares of Perry Ellis International by 19.4% in the second quarter. ClariVest Asset Management LLC now owns 264,941 shares of the textile maker’s stock valued at $5,156,000 after buying an additional 43,000 shares in the last quarter. Institutional investors and hedge funds own 70.95% 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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Analyst Recommendations for Perry Ellis International (NASDAQ:PERY)

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