Ralph Lauren (NYSE:RL) Reaches New 1-Year High After Analyst Upgrade

Ralph Lauren Co. (NYSE:RL) shares hit a new 52-week high on Tuesday after Cowen upgraded the stock from a market perform rating to an outperform rating. Cowen now has a $152.00 price target on the stock, up from their previous price target of $110.00. Ralph Lauren traded as high as $137.04 and last traded at $135.27, with a volume of 1735 shares changing hands. The stock had previously closed at $136.31.

A number of other brokerages have also recently weighed in on RL. JPMorgan Chase & Co. raised their price objective on shares of Ralph Lauren from $83.00 to $108.00 and gave the stock a “neutral” rating in a research note on Thursday, January 7th. Wells Fargo & Company upped their target price on shares of Ralph Lauren from $132.00 to $150.00 and gave the company an “overweight” rating in a report on Tuesday. Telsey Advisory Group boosted their price objective on shares of Ralph Lauren from $120.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, February 17th. Needham & Company LLC lifted their target price on shares of Ralph Lauren from $82.00 to $112.00 and gave the stock a “buy” rating in a research note on Monday, February 1st. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Ralph Lauren from $75.00 to $127.00 and gave the stock a “hold” rating in a report on Thursday, January 21st. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $116.00.

In related news, EVP Andrew Howard Smith sold 3,164 shares of the stock in a transaction that occurred on Wednesday, April 7th. The stock was sold at an average price of $125.00, for a total value of $395,500.00. Following the transaction, the executive vice president now owns 71,232 shares in the company, valued at $8,904,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Jane Nielsen sold 10,627 shares of the firm’s stock in a transaction that occurred on Monday, April 12th. The shares were sold at an average price of $127.69, for a total transaction of $1,356,961.63. Following the transaction, the chief financial officer now directly owns 114,341 shares in the company, valued at approximately $14,600,202.29. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,554 shares of company stock valued at $2,924,022. Insiders own 35.28% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in RL. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Ralph Lauren by 146,501.5% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,617,014 shares of the textile maker’s stock worth $167,748,000 after purchasing an additional 1,615,911 shares in the last quarter. Jupiter Asset Management Ltd. increased its position in Ralph Lauren by 97.8% in the 4th quarter. Jupiter Asset Management Ltd. now owns 2,273,453 shares of the textile maker’s stock worth $235,757,000 after buying an additional 1,123,953 shares during the period. Norges Bank bought a new stake in shares of Ralph Lauren in the fourth quarter valued at approximately $61,911,000. Royce & Associates LP grew its stake in shares of Ralph Lauren by 255.9% in the fourth quarter. Royce & Associates LP now owns 615,590 shares of the textile maker’s stock worth $63,861,000 after acquiring an additional 442,622 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in Ralph Lauren by 15.8% during the fourth quarter. Russell Investments Group Ltd. now owns 1,058,470 shares of the textile maker’s stock worth $109,833,000 after acquiring an additional 144,736 shares during the period. Institutional investors own 65.35% of the company’s stock.

The business’s fifty day simple moving average is $123.85 and its two-hundred day simple moving average is $104.91. The company has a current ratio of 2.51, a quick ratio of 1.94 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $9.90 billion, a P/E ratio of -109.05, a P/E/G ratio of 10.41 and a beta of 1.45.

Ralph Lauren (NYSE:RL) last issued its quarterly earnings results on Wednesday, February 3rd. The textile maker reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.04. Ralph Lauren had a positive return on equity of 5.14% and a negative net margin of 1.74%. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same period in the previous year, the company posted $2.86 earnings per share. The company’s quarterly revenue was down 18.2% compared to the same quarter last year. On average, equities research analysts anticipate that Ralph Lauren Co. will post 1.28 earnings per share for the current year.

Ralph Lauren Company Profile (NYSE:RL)

Ralph Lauren Corporation designs, markets, and distributes lifestyle products in North America, Europe, Asia, and internationally. The company offers apparel, including a range of men's, women's, and children's clothing accessories, which comprise sandals, eyewear, watches, fashion and fine jewelry, scarves, hats, gloves, umbrellas, and belts, as well as leather goods, such as handbags, luggage, small leather goods, and belts; home products consisting of bedding and bath products, furniture, fabrics and wallpapers, lightings, tabletops, floorcoverings, and giftware; and fragrances.

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