Perry Ellis International Inc. (NASDAQ:PERY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

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 subject of a number of other reports. Brean Capital dropped their target price on shares of Perry Ellis International from $26.00 to $25.00 and set a “buy” rating for the company in a report on Friday, August 19th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $26.00 target price on shares of Perry Ellis International in a report on Thursday, August 18th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $26.50.

Perry Ellis International (NASDAQ:PERY) opened at 18.95 on Wednesday. The company has a 50-day moving average price of $19.33 and a 200-day moving average price of $19.67. Perry Ellis International has a 12-month low of $15.73 and a 12-month high of $22.71. The firm’s market capitalization is $283.36 million.

Perry Ellis International (NASDAQ:PERY) last issued its earnings results on Thursday, August 18th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.14. Perry Ellis International had a negative net margin of 0.54% and a positive return on equity of 8.31%. The company earned $202 million during the quarter, compared to analysts’ expectations of $197.63 million. During the same period last year, the company posted $0.31 earnings per share. The firm’s quarterly revenue was down 5.5% compared to the same quarter last year. On average, analysts predict that Perry Ellis International will post $1.98 earnings per share for the current year.

In other news, insider Stanley P. Silverstein sold 10,942 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $19.61, for a total transaction of $214,572.62. Following the completion of the transaction, the insider now directly owns 74,960 shares of the company’s stock, valued at approximately $1,469,965.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 22.20% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of PERY. American International Group Inc. boosted its position in shares of Perry Ellis International by 0.5% in the second quarter. American International Group Inc. now owns 9,201 shares of the company’s stock worth $185,000 after buying an additional 45 shares during the period. Springbok Capital Management LLC boosted its position in shares of Perry Ellis International by 34.6% in the first quarter. Springbok Capital Management LLC now owns 10,900 shares of the company’s stock worth $201,000 after buying an additional 2,800 shares during the period. OMERS ADMINISTRATION Corp acquired a new position in shares of Perry Ellis International during the second quarter worth $203,000. Financial Consulate Inc. acquired a new position in shares of Perry Ellis International during the second quarter worth $214,000. Finally, BlackRock Inc. boosted its position in shares of Perry Ellis International by 1,347.2% in the second quarter. BlackRock Inc. now owns 11,288 shares of the company’s stock worth $227,000 after buying an additional 10,508 shares during the period. 66.82% of the stock is owned by institutional investors and hedge funds.

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.

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