Ralph Lauren Corporation (RL) PT Set at $95.00 by Cowen and Company
Ralph Lauren Corporation (NYSE:RL) has been assigned a $95.00 price objective by equities researchers at Cowen and Company in a report issued on Thursday. The brokerage currently has a “hold” rating on the textile maker’s stock. Cowen and Company’s target price would indicate a potential upside of 6.61% from the company’s current price.
Several other research firms also recently issued reports on RL. Morgan Stanley boosted their price objective on Ralph Lauren Corporation from $83.50 to $91.00 and gave the company an “equal weight” rating in a report on Friday, November 3rd. Buckingham Research boosted their price objective on Ralph Lauren Corporation from $82.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, September 13th. Needham & Company LLC reiterated a “hold” rating on shares of Ralph Lauren Corporation in a report on Tuesday, September 12th. Barclays PLC assumed coverage on Ralph Lauren Corporation in a report on Tuesday, September 19th. They issued an “underweight” rating and a $84.00 price objective on the stock. Finally, Citigroup Inc. boosted their price objective on Ralph Lauren Corporation from $91.00 to $98.00 and gave the company a “buy” rating in a report on Friday, November 3rd. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $88.66.
Shares of Ralph Lauren Corporation (RL) traded up $0.70 during trading on Thursday, hitting $89.11. The stock had a trading volume of 1,077,889 shares, compared to its average volume of 1,567,884. Ralph Lauren Corporation has a twelve month low of $66.06 and a twelve month high of $114.00. The firm has a market cap of $7,190.00, a price-to-earnings ratio of 14.91, a PEG ratio of 1.04 and a beta of 0.63. The company has a current ratio of 2.09, a quick ratio of 1.55 and a debt-to-equity ratio of 0.08.
Ralph Lauren Corporation (NYSE:RL) last posted its quarterly earnings data on Thursday, November 2nd. The textile maker reported $1.99 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.90 by $0.09. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.64 billion. Ralph Lauren Corporation had a return on equity of 14.06% and a net margin of 1.29%. The company’s quarterly revenue was down 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.90 EPS. research analysts expect that Ralph Lauren Corporation will post 5.61 earnings per share for the current year.
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In other news, insider Valerie Hermann sold 2,400 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $91.22, for a total value of $218,928.00. Following the completion of the sale, the insider now directly owns 35,028 shares of the company’s stock, valued at approximately $3,195,254.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 32.93% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Piedmont Investment Advisors LLC purchased a new position in Ralph Lauren Corporation in the 3rd quarter valued at approximately $845,000. California Public Employees Retirement System increased its stake in Ralph Lauren Corporation by 4.9% in the 3rd quarter. California Public Employees Retirement System now owns 179,308 shares of the textile maker’s stock valued at $15,831,000 after purchasing an additional 8,408 shares in the last quarter. Cubist Systematic Strategies LLC increased its stake in Ralph Lauren Corporation by 72,160.0% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 7,226 shares of the textile maker’s stock valued at $638,000 after purchasing an additional 7,216 shares in the last quarter. Point72 Asset Management L.P. increased its stake in Ralph Lauren Corporation by 1,361.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 349,383 shares of the textile maker’s stock valued at $30,847,000 after purchasing an additional 325,483 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in Ralph Lauren Corporation by 231.4% in the 3rd quarter. Janus Henderson Group PLC now owns 380,027 shares of the textile maker’s stock valued at $33,554,000 after purchasing an additional 265,363 shares in the last quarter. 66.46% of the stock is 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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