Royal Bank Of Canada set a $88.00 target price on Ralph Lauren Corporation (NYSE:RL) in a research report sent to investors on Wednesday, August 9th. The firm currently has a hold rating on the textile maker’s stock.
RL has been the topic of a number of other research reports. Piper Jaffray Companies set a $66.00 price objective on Ralph Lauren Corporation and gave the stock a sell rating in a report on Friday, May 19th. ValuEngine lowered Ralph Lauren Corporation from a buy rating to a hold rating in a report on Friday, June 2nd. Cowen and Company reiterated a hold rating and set a $80.00 target price (up from $78.00) on shares of Ralph Lauren Corporation in a research report on Tuesday, July 18th. Bank of America Corporation reiterated a neutral rating and set a $80.00 target price on shares of Ralph Lauren Corporation in a research report on Thursday, July 27th. Finally, Buckingham Research reiterated a neutral rating and set a $68.00 target price on shares of Ralph Lauren Corporation in a research report on Monday, July 17th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $88.56.
Shares of Ralph Lauren Corporation (RL) traded down 1.38% on Wednesday, hitting $84.32. The stock had a trading volume of 1,231,456 shares. The firm has a 50 day moving average of $76.88 and a 200 day moving average of $76.95. The stock’s market cap is $6.85 billion. Ralph Lauren Corporation has a 12 month low of $66.06 and a 12 month high of $114.00.
Ralph Lauren Corporation (NYSE:RL) last announced its quarterly earnings data on Tuesday, August 8th. The textile maker reported $1.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.15. Ralph Lauren Corporation had a positive return on equity of 13.80% and a negative net margin of 0.27%. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the prior year, the company posted $1.06 earnings per share. Ralph Lauren Corporation’s quarterly revenue was down 13.2% on a year-over-year basis. On average, equities analysts forecast that Ralph Lauren Corporation will post $5.28 earnings per share for the current fiscal year.
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Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Ralph Lauren Corporation by 26.7% in the second quarter. BlackRock Inc. now owns 5,809,542 shares of the textile maker’s stock valued at $428,744,000 after buying an additional 1,225,845 shares during the last quarter. Vanguard Group Inc. raised its position in Ralph Lauren Corporation by 9.5% in the first quarter. Vanguard Group Inc. now owns 5,708,885 shares of the textile maker’s stock valued at $465,959,000 after buying an additional 495,685 shares during the last quarter. Bank of New York Mellon Corp raised its position in Ralph Lauren Corporation by 378.0% in the second quarter. Bank of New York Mellon Corp now owns 4,400,915 shares of the textile maker’s stock valued at $324,786,000 after buying an additional 3,480,135 shares during the last quarter. JPMorgan Chase & Co. raised its position in Ralph Lauren Corporation by 113.7% in the first quarter. JPMorgan Chase & Co. now owns 2,469,782 shares of the textile maker’s stock valued at $201,582,000 after buying an additional 1,314,237 shares during the last quarter. Finally, American Century Companies Inc. raised its position in Ralph Lauren Corporation by 10.8% in the second quarter. American Century Companies Inc. now owns 1,423,333 shares of the textile maker’s stock valued at $105,042,000 after buying an additional 139,110 shares during the last quarter. Hedge funds and other institutional investors own 63.74% of the company’s stock.
About Ralph Lauren Corporation
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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