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 brokerage currently has a $24.00 price objective on the textile maker’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 9.74% from the company’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. “

Several other brokerages have also recently weighed in on PERY. FBR & Co set a $25.00 price objective on Perry Ellis International and gave the stock a “buy” rating in a report on Monday, August 21st. BidaskClub cut Perry Ellis International from a “hold” rating to a “sell” rating in a report on Friday, August 18th. KeyCorp reissued a “hold” rating on shares of Perry Ellis International in a report on Thursday, August 24th. TheStreet cut Perry Ellis International from a “b-” rating to a “c+” rating in a report on Friday, August 18th. Finally, ValuEngine cut Perry Ellis International from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $27.75.

Perry Ellis International (PERY) opened at 22.17 on Friday. Perry Ellis International has a 52-week low of $16.35 and a 52-week high of $29.00. The stock’s 50 day moving average is $20.29 and its 200 day moving average is $20.10. The company has a market cap of $334.19 million, a price-to-earnings ratio of 19.41 and a beta of 0.65.

Perry Ellis International (NASDAQ:PERY) last announced its quarterly earnings data on Thursday, August 24th. The textile maker reported $0.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.06. The firm had revenue of $206.60 million during the quarter, compared to analysts’ expectations of $204.97 million. Perry Ellis International had a return on equity of 1.19% and a net margin of 0.47%. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.15 EPS. Equities research analysts forecast that Perry Ellis International will post $2.15 earnings per share for the current year.

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In other news, insider Stanley P. Silverstein sold 13,507 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $22.11, for a total value of $298,639.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 22.20% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its stake in shares of Perry Ellis International by 12.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,504 shares of the textile maker’s stock valued at $224,000 after acquiring an additional 1,263 shares during the last quarter. State Street Corp increased its stake in shares of Perry Ellis International by 5.3% in the 2nd quarter. State Street Corp now owns 280,040 shares of the textile maker’s stock valued at $5,448,000 after acquiring an additional 13,982 shares during the last quarter. Voya Investment Management LLC increased its stake in shares of Perry Ellis International by 4.0% in the 2nd quarter. Voya Investment Management LLC now owns 33,823 shares of the textile maker’s stock valued at $658,000 after acquiring an additional 1,306 shares during the last quarter. OxFORD Asset Management LLP increased its stake in shares of Perry Ellis International by 5.4% in the 2nd quarter. OxFORD Asset Management LLP now owns 69,588 shares of the textile maker’s stock valued at $1,354,000 after acquiring an additional 3,553 shares during the last quarter. Finally, Citadel Advisors LLC increased its stake in shares of Perry Ellis International by 88.3% in the 2nd quarter. Citadel Advisors LLC now owns 34,137 shares of the textile maker’s stock valued at $664,000 after acquiring an additional 16,012 shares during the last quarter. 70.95% of the stock is owned by institutional investors.

About Perry Ellis International

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.

Analyst Recommendations for Perry Ellis International (NASDAQ:PERY)

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