Ralph Lauren Corp. (RL) Upgraded by Goldman Sachs Group Inc. to Conviction-Buy
Goldman Sachs Group Inc. upgraded shares of Ralph Lauren Corp. (NYSE:RL) from a buy rating to a conviction-buy rating in a research note released on Friday. They currently have $120.00 target price on the stock.
A number of other brokerages also recently weighed in on RL. Vetr upgraded Ralph Lauren Corp. from a hold rating to a buy rating and set a $96.72 target price on the stock in a report on Wednesday, August 3rd. Macquarie upped their target price on Ralph Lauren Corp. from $119.00 to $121.00 and gave the company an outperform rating in a report on Tuesday, September 27th. Brean Capital reiterated a hold rating on shares of Ralph Lauren Corp. in a report on Thursday, August 11th. Credit Agricole SA started coverage on Ralph Lauren Corp. in a report on Wednesday, September 28th. They issued a buy rating and a $125.00 target price on the stock. Finally, Telsey Advisory Group upped their target price on Ralph Lauren Corp. from $105.00 to $120.00 and gave the company an outperform rating in a report on Thursday, August 11th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Ralph Lauren Corp. presently has a consensus rating of Hold and an average price target of $110.63.
Shares of Ralph Lauren Corp. (NYSE:RL) traded up 0.58% on Friday, reaching $103.61. 203,367 shares of the company’s stock were exchanged. Ralph Lauren Corp. has a 12 month low of $82.15 and a 12 month high of $137.38. The firm’s 50 day moving average price is $102.21 and its 200-day moving average price is $96.80. The company has a market capitalization of $8.52 billion, a P/E ratio of 28.32 and a beta of 1.17.
Ralph Lauren Corp. (NYSE:RL) last posted its quarterly earnings data on Wednesday, August 10th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.17. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.53 billion. Ralph Lauren Corp. had a return on equity of 14.50% and a net margin of 4.22%. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.09 EPS. On average, equities analysts anticipate that Ralph Lauren Corp. will post $5.44 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be paid a dividend of $0.50 per share. The ex-dividend date is Wednesday, September 28th. This represents a $2.00 annualized dividend and a yield of 1.94%. Ralph Lauren Corp.’s dividend payout ratio is currently 55.25%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kazazian Asset Management LLC acquired a new stake in shares of Ralph Lauren Corp. during the first quarter valued at approximately $111,000. Investment Counselors of Maryland LLC acquired a new stake in shares of Ralph Lauren Corp. during the second quarter valued at approximately $141,000. Trust Department MB Financial Bank N A boosted its stake in shares of Ralph Lauren Corp. by 795.2% in the second quarter. Trust Department MB Financial Bank N A now owns 1,128 shares of the company’s stock valued at $149,000 after buying an additional 1,002 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Ralph Lauren Corp. by 154.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,044 shares of the company’s stock valued at $183,000 after buying an additional 1,240 shares during the last quarter. Finally, Commonwealth Equity Services Inc acquired a new stake in shares of Ralph Lauren Corp. during the second quarter valued at approximately $202,000. Hedge funds and other institutional investors own 63.74% of the company’s stock.
About Ralph Lauren Corp.
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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