Ralph Lauren Corp. (RL) Lowered to “Sell” at Vetr Inc.
Vetr lowered shares of Ralph Lauren Corp. (NYSE:RL) from a hold rating to a sell rating in a research note issued to investors on Monday. The brokerage currently has $99.66 price objective on the stock.
Several other research analysts also recently commented on the company. Goldman Sachs Group Inc. raised Ralph Lauren Corp. from a buy rating to a conviction-buy rating and set a $120.00 price objective on the stock in a research note on Friday. Macquarie raised their price objective on Ralph Lauren Corp. from $119.00 to $121.00 and gave the stock an outperform rating in a research note on Tuesday, September 27th. Guggenheim started coverage on Ralph Lauren Corp. in a research note on Friday, September 30th. They issued a neutral rating on the stock. Credit Agricole SA started coverage on Ralph Lauren Corp. in a research note on Wednesday, September 28th. They issued a buy rating and a $125.00 price objective on the stock. Finally, Deutsche Bank AG reaffirmed a hold rating and issued a $95.00 price objective (up previously from $85.00) on shares of Ralph Lauren Corp. in a research note on Wednesday, August 10th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Ralph Lauren Corp. presently has an average rating of Hold and a consensus price target of $110.63.
Shares of Ralph Lauren Corp. (NYSE:RL) traded up 0.12% during mid-day trading on Monday, reaching $103.75. The company’s stock had a trading volume of 35,108 shares. Ralph Lauren Corp. has a 12-month low of $82.15 and a 12-month high of $137.38. The company’s 50-day moving average price is $102.06 and its 200-day moving average price is $96.86. The stock has a market capitalization of $8.53 billion, a P/E ratio of 28.35 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 EPS for the quarter, topping the consensus estimate of $0.89 by $0.17. Ralph Lauren Corp. had a return on equity of 14.50% and a net margin of 4.22%. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter last year, the company earned $1.09 earnings per share. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. On average, equities research analysts forecast that Ralph Lauren Corp. will post $5.44 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be paid a $0.50 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.93%. Ralph Lauren Corp.’s payout ratio is 55.25%.
Hedge funds have recently modified their holdings of the company. Kazazian Asset Management LLC acquired a new position in Ralph Lauren Corp. during the first quarter worth $111,000. Investment Counselors of Maryland LLC acquired a new position in Ralph Lauren Corp. during the second quarter worth $141,000. Trust Department MB Financial Bank N A boosted its position in 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 last quarter. Northwestern Mutual Wealth Management Co. boosted its position in 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 last quarter. Finally, Commonwealth Equity Services Inc acquired a new position in Ralph Lauren Corp. during the second quarter worth $202,000. Hedge funds and other institutional investors own 63.74% of the company’s stock.
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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