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 report released on Friday morning. Goldman Sachs Group Inc. currently has $120.00 target price on the stock.
RL has been the topic of several other reports. Vetr lowered shares of Ralph Lauren Corp. from a buy rating to a hold rating and set a $99.66 target price on the stock. in a report on Wednesday, September 28th. BB&T Corp. reiterated a buy rating and issued a $115.00 target price on shares of Ralph Lauren Corp. in a report on Thursday, June 9th. Cowen and Company reiterated a market perform rating and issued a $101.00 target price (up from $98.00) on shares of Ralph Lauren Corp. in a report on Saturday, August 13th. Macquarie boosted their target price on shares of Ralph Lauren Corp. from $119.00 to $121.00 and gave the company an outperform rating in a report on Tuesday, September 27th. Finally, Bank of America Corp. set a $110.00 price target on shares of Ralph Lauren Corp. and gave the company a hold rating in a research note on Thursday, August 11th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $110.63.
Ralph Lauren Corp. (NYSE:RL) traded up 0.58% during trading on Friday, hitting $103.61. 203,367 shares of the stock were exchanged. The stock’s 50 day moving average price is $102.21 and its 200 day moving average price is $96.80. The stock has a market cap of $8.52 billion, a P/E ratio of 28.32 and a beta of 1.17. Ralph Lauren Corp. has a 12 month low of $82.15 and a 12 month high of $137.38.
Ralph Lauren Corp. (NYSE:RL) last posted its quarterly earnings results on Wednesday, August 10th. The company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.17. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.53 billion. Ralph Lauren Corp. had a net margin of 4.22% and a return on equity of 14.50%. Ralph Lauren Corp.’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.09 earnings per share. Analysts forecast that Ralph Lauren Corp. will post $5.44 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $2.00 dividend on an annualized basis and a yield of 1.94%. Ralph Lauren Corp.’s dividend payout ratio (DPR) is 55.25%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Kazazian Asset Management LLC acquired a new position in shares of Ralph Lauren Corp. during the first quarter worth $111,000. Investment Counselors of Maryland LLC acquired a new position in shares of Ralph Lauren Corp. during the second quarter worth $141,000. Trust Department MB Financial Bank N A boosted its position 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 worth $149,000 after buying an additional 1,002 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position 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 worth $183,000 after buying an additional 1,240 shares during the period. Finally, Commonwealth Equity Services Inc acquired a new position in shares of Ralph Lauren Corp. during the second quarter worth $202,000. 63.74% of the stock is currently owned by hedge funds and other institutional investors.
Ralph Lauren Corp. 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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