Ralph Lauren Corporation (RL) Given Hold Rating at Royal Bank Of Canada
Ralph Lauren Corporation (NYSE:RL)‘s stock had its “hold” rating restated by equities researchers at Royal Bank Of Canada in a report released on Thursday. They currently have a $88.00 price objective on the textile maker’s stock. Royal Bank Of Canada’s price objective points to a potential downside of 1.65% from the company’s previous close.
Several other research firms have also weighed in on RL. Macquarie raised Ralph Lauren Corporation to a “buy” rating and boosted their price target for the stock from $96.00 to $100.00 in a research report on Tuesday, September 5th. Piper Jaffray Companies reaffirmed a “sell” rating and set a $66.00 price target on shares of Ralph Lauren Corporation in a research report on Friday, July 14th. Tigress Financial reaffirmed a “hold” rating on shares of Ralph Lauren Corporation in a research report on Thursday, September 28th. Atlantic Securities raised Ralph Lauren Corporation from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $68.00 to $93.00 in a research report on Wednesday, August 9th. Finally, UBS AG reaffirmed a “positive” rating and set a $90.00 price target (up previously from $73.00) on shares of Ralph Lauren Corporation in a research report on Wednesday, August 9th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $86.73.
Shares of Ralph Lauren Corporation (NYSE:RL) traded down 0.04% during trading on Thursday, reaching $89.44. The company’s stock had a trading volume of 231,120 shares. Ralph Lauren Corporation has a 52 week low of $66.06 and a 52 week high of $114.00. The stock’s 50 day moving average price is $88.44 and its 200 day moving average price is $79.03. The company’s market cap is $7.27 billion.
Ralph Lauren Corporation (NYSE:RL) last posted its quarterly earnings results on Tuesday, August 8th. The textile maker reported $1.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.15. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.34 billion. Ralph Lauren Corporation had a positive return on equity of 13.80% and a negative net margin of 0.27%. The business’s quarterly revenue was down 13.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.06 EPS. Equities research analysts predict that Ralph Lauren Corporation will post $5.34 EPS for the current year.
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A number of hedge funds and other institutional investors have recently modified their holdings of RL. Northwestern Mutual Wealth Management Co. grew its holdings in Ralph Lauren Corporation by 7.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,368 shares of the textile maker’s stock valued at $101,000 after buying an additional 96 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in Ralph Lauren Corporation in the 1st quarter valued at $110,000. Pacer Advisors Inc. grew its holdings in Ralph Lauren Corporation by 97.0% in the 1st quarter. Pacer Advisors Inc. now owns 1,988 shares of the textile maker’s stock valued at $162,000 after buying an additional 979 shares in the last quarter. Engine Capital Management LLC acquired a new position in Ralph Lauren Corporation in the 1st quarter valued at $163,000. Finally, Exane Derivatives acquired a new position in Ralph Lauren Corporation in the 2nd quarter valued at $175,000. 62.88% of the stock is currently owned by hedge funds and other institutional investors.
Ralph Lauren Corporation 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.
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