Perry Ellis International Inc. (PERY) Upgraded to Buy at Zacks Investment Research
Perry Ellis International Inc. (NASDAQ:PERY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday. The brokerage currently has a $24.00 target price on the textile maker’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 9.94% from the stock’s previous close.
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. “
Several other equities research analysts have also recently issued reports on the stock. ValuEngine cut shares of Perry Ellis International from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Wunderlich restated a “buy” rating and issued a $35.00 target price on shares of Perry Ellis International in a report on Friday, May 19th. FBR & Co restated an “outperform” rating and issued a $25.00 target price on shares of Perry Ellis International in a report on Tuesday, July 11th. TheStreet cut shares of Perry Ellis International from a “b-” rating to a “c+” rating in a report on Friday, August 18th. Finally, BidaskClub cut shares of Perry Ellis International from a “hold” rating to a “sell” rating in a report on Friday, August 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $27.75.
Shares of Perry Ellis International (NASDAQ:PERY) opened at 21.83 on Friday. The stock has a 50 day moving average price of $19.31 and a 200 day moving average price of $20.19. Perry Ellis International has a 52 week low of $16.35 and a 52 week high of $29.00. The firm has a market capitalization of $329.07 million, a P/E ratio of 19.12 and a beta of 0.69.
Perry Ellis International (NASDAQ:PERY) last posted its quarterly earnings results on Thursday, August 24th. The textile maker reported $0.16 EPS for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.06. Perry Ellis International had a net margin of 2.08% and a return on equity of 9.05%. The firm had revenue of $206.60 million for the quarter, compared to analysts’ expectations of $204.97 million. During the same quarter in the prior year, the company posted $0.15 earnings per share. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. Analysts forecast that Perry Ellis International will post $2.15 EPS for the current year.
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Hedge funds and other institutional investors have recently modified their holdings of the company. Oxford Asset Management boosted its position in shares of Perry Ellis International by 0.9% in the first quarter. Oxford Asset Management now owns 66,035 shares of the textile maker’s stock valued at $1,418,000 after buying an additional 613 shares in the last quarter. Airain ltd acquired a new position in shares of Perry Ellis International during the first quarter valued at $217,000. Trexquant Investment LP acquired a new position in shares of Perry Ellis International during the first quarter valued at $359,000. Nine Chapters Capital Management LLC acquired a new position in shares of Perry Ellis International during the first quarter valued at $346,000. Finally, State of Tennessee Treasury Department boosted its position in shares of Perry Ellis International by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 10,855 shares of the textile maker’s stock valued at $233,000 after buying an additional 1,638 shares in the last quarter. Institutional investors and hedge funds own 71.09% of the company’s stock.
Perry Ellis International Company Profile
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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