Perry Ellis International Inc. (PERY) Upgraded to Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of Perry Ellis International Inc. (NASDAQ:PERY) from a hold rating to a buy rating in a report released on Tuesday. The firm currently has $27.00 target price on the stock.
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. “
Other equities analysts have also recently issued research reports about the company. Brean Capital reduced their target price on Perry Ellis International from $26.00 to $25.00 and set a buy rating on the stock in a report on Friday, August 19th. Deutsche Bank AG restated a hold rating and set a $26.00 target price on shares of Perry Ellis International in a report on Thursday, August 18th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Perry Ellis International has a consensus rating of Buy and a consensus target price of $28.75.
Perry Ellis International (NASDAQ:PERY) opened at 25.70 on Tuesday. The company has a 50-day moving average price of $19.82 and a 200-day moving average price of $19.93. The firm’s market cap is $385.27 million. Perry Ellis International has a 12-month low of $15.73 and a 12-month high of $25.75.
Perry Ellis International (NASDAQ:PERY) last posted its quarterly earnings results on Thursday, November 17th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.08. The business had revenue of $194 million for the quarter, compared to analysts’ expectations of $194.67 million. Perry Ellis International had a positive return on equity of 8.73% and a negative net margin of 1.40%. The firm’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.16 earnings per share. On average, analysts predict that Perry Ellis International will post $1.98 earnings per share for the current year.
In other Perry Ellis International news, insider George Feldenkreis sold 16,407 shares of the business’s stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $24.20, for a total transaction of $397,049.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Stanley P. Silverstein sold 10,942 shares of the business’s stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $19.61, for a total value of $214,572.62. Following the transaction, the insider now directly owns 74,960 shares in the company, valued at approximately $1,469,965.60. The disclosure for this sale can be found here. Company insiders own 22.20% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. SG Capital Management LLC bought a new position in Perry Ellis International during the second quarter valued at $2,037,000. BlackRock Fund Advisors raised its position in Perry Ellis International by 9.5% in the third quarter. BlackRock Fund Advisors now owns 884,439 shares of the company’s stock valued at $17,052,000 after buying an additional 76,742 shares during the period. Matarin Capital Management LLC bought a new position in Perry Ellis International during the third quarter valued at $1,415,000. Algert Global LLC raised its position in Perry Ellis International by 101.4% in the third quarter. Algert Global LLC now owns 137,318 shares of the company’s stock valued at $2,647,000 after buying an additional 69,143 shares during the period. Finally, Acadian Asset Management LLC raised its position in Perry Ellis International by 131.5% in the third quarter. Acadian Asset Management LLC now owns 99,211 shares of the company’s stock valued at $1,914,000 after buying an additional 56,363 shares during the period. 69.81% of the stock is currently owned by hedge funds and other 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.
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