Revolve Group (NYSE:RVLV) Upgraded by KeyCorp to Overweight Rating

Revolve Group (NYSE:RVLV) was upgraded by investment analysts at KeyCorp from a “sector weight” rating to an “overweight” rating in a report issued on Thursday, Marketbeat Ratings reports. The firm presently has a $37.00 price objective on the stock. KeyCorp’s target price suggests a potential upside of 18.28% from the stock’s previous close.

Several other equities research analysts have also weighed in on RVLV. Piper Sandler raised their target price on Revolve Group from $30.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Roth Mkm reissued a “buy” rating and set a $35.00 target price (up previously from $29.00) on shares of Revolve Group in a research report on Wednesday, November 6th. BTIG Research raised their price target on Revolve Group from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Robert W. Baird raised their price target on Revolve Group from $24.00 to $33.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Finally, UBS Group raised their price target on Revolve Group from $25.00 to $30.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $29.60.

Revolve Group Stock Performance

Shares of NYSE RVLV opened at $31.28 on Thursday. Revolve Group has a fifty-two week low of $14.04 and a fifty-two week high of $39.58. The firm has a market capitalization of $2.21 billion, a PE ratio of 55.86, a price-to-earnings-growth ratio of 1.57 and a beta of 2.18. The stock’s 50-day simple moving average is $33.85 and its 200-day simple moving average is $26.92.

Revolve Group (NYSE:RVLV) last issued its earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.05. Revolve Group had a return on equity of 10.17% and a net margin of 3.72%. The business had revenue of $283.15 million for the quarter, compared to analyst estimates of $271.08 million. During the same quarter last year, the company earned $0.04 EPS. The business’s quarterly revenue was up 9.9% on a year-over-year basis. On average, sell-side analysts forecast that Revolve Group will post 0.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Revolve Group

In related news, CFO Jesse Timmermans sold 91,625 shares of Revolve Group stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $30.72, for a total value of $2,814,720.00. Following the sale, the chief financial officer now directly owns 3,054 shares in the company, valued at $93,818.88. The trade was a 96.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Mente sold 20,373 shares of Revolve Group stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $25.95, for a total value of $528,679.35. Following the completion of the sale, the chief executive officer now owns 73,000 shares in the company, valued at approximately $1,894,350. This trade represents a 21.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 900,807 shares of company stock worth $29,507,102. 46.56% of the stock is currently owned by insiders.

Institutional Trading of Revolve Group

A number of institutional investors have recently modified their holdings of RVLV. Farther Finance Advisors LLC boosted its stake in shares of Revolve Group by 249.7% in the third quarter. Farther Finance Advisors LLC now owns 1,126 shares of the company’s stock valued at $28,000 after buying an additional 804 shares in the last quarter. Sugar Maple Asset Management LLC acquired a new position in Revolve Group during the fourth quarter worth $50,000. Benjamin F. Edwards & Company Inc. raised its holdings in Revolve Group by 91.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,069 shares of the company’s stock worth $65,000 after purchasing an additional 1,940 shares during the last quarter. Quarry LP acquired a new position in Revolve Group during the second quarter worth $68,000. Finally, American Century Companies Inc. acquired a new position in Revolve Group during the second quarter worth $165,000. 67.60% of the stock is currently owned by hedge funds and other institutional investors.

About Revolve Group

Revolve Group, Inc operates as an online fashion retailer for millennial and generation z consumers in the United States and internationally. The company operates in two segments, REVOLVE and FWRD. It operates a platform that connects consumers and global fashion influencers, as well as emerging, established, and owned brands.