Ralph Lauren (RL) Lifted to Buy at ValuEngine

ValuEngine upgraded shares of Ralph Lauren (NYSE:RL) from a hold rating to a buy rating in a research note issued to investors on Friday, February 2nd.

RL has been the topic of several other reports. Zacks Investment Research lowered shares of Ralph Lauren from a hold rating to a sell rating in a research report on Monday, January 8th. Bank of America lowered shares of Ralph Lauren from a neutral rating to an underperform rating and decreased their price target for the stock from $100.14 to $80.00 in a research report on Wednesday, December 13th. Royal Bank of Canada restated a hold rating and issued a $88.00 price target on shares of Ralph Lauren in a research report on Thursday, October 5th. Cowen set a $97.00 target price on shares of Ralph Lauren and gave the company a hold rating in a research report on Wednesday, November 1st. Finally, Barclays lifted their target price on shares of Ralph Lauren from $84.00 to $87.00 and gave the company an underweight rating in a research report on Monday, November 6th. Five equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $96.93.

Ralph Lauren (NYSE:RL) traded up $2.17 during trading hours on Friday, reaching $103.49. 1,262,781 shares of the company were exchanged, compared to its average volume of 1,277,252. Ralph Lauren has a 1-year low of $66.06 and a 1-year high of $119.33. The company has a quick ratio of 1.58, a current ratio of 2.07 and a debt-to-equity ratio of 0.09. The firm has a market cap of $8,411.15, a price-to-earnings ratio of -102.47, a PEG ratio of 1.71 and a beta of 0.65.

Ralph Lauren (NYSE:RL) last posted its earnings results on Thursday, February 1st. The textile maker reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.16. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. Ralph Lauren had a negative net margin of 1.33% and a positive return on equity of 14.64%. Ralph Lauren’s revenue was down 4.3% compared to the same quarter last year. During the same period last year, the business posted $1.86 EPS. equities analysts anticipate that Ralph Lauren will post 5.93 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, January 12th. Investors of record on Friday, December 29th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.93%. The ex-dividend date was Thursday, December 28th. Ralph Lauren’s dividend payout ratio is currently -198.02%.

A number of hedge funds have recently made changes to their positions in RL. Ameriprise Financial Inc. lifted its holdings in Ralph Lauren by 272.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 131,436 shares of the textile maker’s stock valued at $9,701,000 after purchasing an additional 96,171 shares during the last quarter. Nationwide Fund Advisors lifted its holdings in Ralph Lauren by 6.5% during the 2nd quarter. Nationwide Fund Advisors now owns 65,747 shares of the textile maker’s stock valued at $4,852,000 after purchasing an additional 4,038 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in Ralph Lauren by 6.9% during the 2nd quarter. New York State Common Retirement Fund now owns 135,500 shares of the textile maker’s stock valued at $10,000,000 after purchasing an additional 8,799 shares during the last quarter. Mutual of America Capital Management LLC lifted its holdings in Ralph Lauren by 2.9% during the 2nd quarter. Mutual of America Capital Management LLC now owns 18,875 shares of the textile maker’s stock valued at $1,393,000 after purchasing an additional 532 shares during the last quarter. Finally, FMR LLC lifted its holdings in Ralph Lauren by 2.9% during the 2nd quarter. FMR LLC now owns 364,123 shares of the textile maker’s stock valued at $26,872,000 after purchasing an additional 10,180 shares during the last quarter. 66.45% of the stock is owned by hedge funds and other institutional investors.

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About Ralph Lauren

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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