Citigroup Inc. Raises Ralph Lauren Corporation (RL) Price Target to $98.00
Ralph Lauren Corporation (NYSE:RL) had its price objective lifted by equities research analysts at Citigroup Inc. from $91.00 to $98.00 in a report released on Friday. The firm currently has a “buy” rating on the textile maker’s stock. Citigroup Inc.’s price objective would suggest a potential upside of 8.08% from the company’s previous close.
A number of other brokerages have also recently weighed in on RL. Morgan Stanley boosted their price objective on shares of Ralph Lauren Corporation from $83.50 to $91.00 and gave the stock an “equal weight” rating in a research note on Friday. Piper Jaffray Companies restated a “sell” rating and issued a $81.00 price objective on shares of Ralph Lauren Corporation in a research note on Thursday, August 10th. Cowen and Company set a $97.00 price objective on shares of Ralph Lauren Corporation and gave the stock a “hold” rating in a research note on Wednesday. Atlantic Securities upgraded shares of Ralph Lauren Corporation from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $68.00 to $93.00 in a research note on Wednesday, August 9th. Finally, UBS AG restated a “positive” rating and issued a $90.00 price objective (up from $73.00) on shares of Ralph Lauren Corporation in a research note on Wednesday, August 9th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Ralph Lauren Corporation currently has a consensus rating of “Hold” and an average target price of $88.61.
Ralph Lauren Corporation (NYSE RL) traded up $1.22 during midday trading on Friday, reaching $90.67. 1,587,960 shares of the company’s stock were exchanged, compared to its average volume of 1,621,738. The stock has a market capitalization of $7.45 billion, a price-to-earnings ratio of 15.68, a PEG ratio of 1.13 and a beta of 0.63. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.09 and a quick ratio of 1.83.
Ralph Lauren Corporation (NYSE:RL) last posted its earnings results on Thursday, November 2nd. The textile maker reported $1.99 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.90 by $0.09. The firm had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Ralph Lauren Corporation had a net margin of 1.29% and a return on equity of 14.06%. The company’s revenue was down 8.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.90 earnings per share. equities research analysts anticipate that Ralph Lauren Corporation will post 5.39 earnings per share for the current fiscal year.
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Institutional investors have recently made changes to their positions in the business. Hosking Partners LLP increased its holdings in Ralph Lauren Corporation by 1.6% in the 2nd quarter. Hosking Partners LLP now owns 174,161 shares of the textile maker’s stock valued at $12,853,000 after buying an additional 2,815 shares during the period. QS Investors LLC increased its holdings in Ralph Lauren Corporation by 3,044.4% in the 2nd quarter. QS Investors LLC now owns 12,892 shares of the textile maker’s stock valued at $951,000 after buying an additional 12,482 shares during the period. Gateway Investment Advisers LLC increased its holdings in Ralph Lauren Corporation by 0.3% in the 2nd quarter. Gateway Investment Advisers LLC now owns 3,741 shares of the textile maker’s stock valued at $276,000 after buying an additional 12 shares during the period. Rothschild Investment Corp IL increased its holdings in Ralph Lauren Corporation by 21.2% in the 2nd quarter. Rothschild Investment Corp IL now owns 24,385 shares of the textile maker’s stock valued at $1,800,000 after buying an additional 4,260 shares during the period. Finally, Andra AP fonden increased its holdings in Ralph Lauren Corporation by 152.9% in the 2nd quarter. Andra AP fonden now owns 65,500 shares of the textile maker’s stock valued at $4,834,000 after buying an additional 39,600 shares during the period. 62.50% of the stock is currently owned by hedge funds and other institutional investors.
About Ralph Lauren Corporation
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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