Perry Ellis International Inc. (PERY) Rating Increased to Buy at Zacks Investment Research
Perry Ellis International Inc. (NASDAQ:PERY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday. The firm presently has a $26.00 target price on the textile maker’s stock. Zacks Investment Research‘s target price indicates a potential upside of 16.38% from the stock’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. “
PERY has been the topic of a number of other reports. ValuEngine cut Perry Ellis International from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. TheStreet cut Perry Ellis International from a “b-” rating to a “c+” rating in a report on Friday, August 18th. Wunderlich reissued a “buy” rating and issued a $35.00 price target on shares of Perry Ellis International in a report on Friday, May 19th. KeyCorp reissued a “hold” rating on shares of Perry Ellis International in a report on Thursday, August 24th. Finally, BidaskClub cut Perry Ellis International from a “hold” rating to a “sell” rating in a report on Friday, August 18th. One 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. The stock currently has an average rating of “Buy” and a consensus target price of $28.25.
Perry Ellis International (NASDAQ PERY) opened at 22.34 on Friday. The company has a market capitalization of $336.75 million, a PE ratio of 19.56 and a beta of 0.65. The company has a 50 day moving average of $20.14 and a 200 day moving average of $20.17. Perry Ellis International has a 52-week low of $16.35 and a 52-week high of $29.00.
Perry Ellis International (NASDAQ:PERY) last posted its quarterly earnings results on Thursday, August 24th. The textile maker reported $0.16 EPS for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.06. Perry Ellis International had a return on equity of 9.05% and a net margin of 2.08%. The company had revenue of $206.60 million for the quarter, compared to analysts’ expectations of $204.97 million. During the same period in the previous year, the firm earned $0.15 EPS. The firm’s revenue was up 2.5% compared to the same quarter last year. On average, equities research analysts forecast that Perry Ellis International will post $2.15 earnings per share for the current fiscal year.
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In other news, insider Stanley P. Silverstein sold 13,507 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $22.11, for a total transaction of $298,639.77. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 22.20% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Arbitrage SA raised its holdings in shares of Perry Ellis International by 42.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,597 shares of the textile maker’s stock worth $109,000 after acquiring an additional 1,662 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Perry Ellis International during the 1st quarter worth approximately $122,000. SG Americas Securities LLC raised its holdings in shares of Perry Ellis International by 46.2% during the 1st quarter. SG Americas Securities LLC now owns 6,099 shares of the textile maker’s stock worth $131,000 after acquiring an additional 1,926 shares in the last quarter. Airain ltd purchased a new stake in shares of Perry Ellis International during the 1st quarter worth approximately $217,000. Finally, Wells Fargo & Company MN raised its holdings in shares of Perry Ellis International by 3.6% during the 2nd quarter. Wells Fargo & Company MN now owns 10,282 shares of the textile maker’s stock worth $200,000 after acquiring an additional 359 shares in the last quarter. 70.95% of the stock is currently owned by institutional investors and hedge funds.
Perry Ellis International Company Profile
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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