Ralph Lauren Corporation’s (RL) Neutral Rating Reaffirmed at Bank of America Corporation
Bank of America Corporation reissued their neutral rating on shares of Ralph Lauren Corporation (NYSE:RL) in a research report report published on Thursday morning, MarketBeat.com reports. The brokerage currently has a $80.00 target price on the textile maker’s stock.
RL has been the subject of several other research reports. Tigress Financial started coverage on shares of Ralph Lauren Corporation in a report on Thursday, May 25th. They set a neutral rating for the company. Zacks Investment Research lowered shares of Ralph Lauren Corporation from a hold rating to a sell rating in a report on Wednesday, May 24th. Vetr lowered shares of Ralph Lauren Corporation from a hold rating to a sell rating and set a $77.89 price target for the company. in a report on Monday, April 10th. Royal Bank Of Canada started coverage on shares of Ralph Lauren Corporation in a report on Monday, April 10th. They set a sector perform rating and a $84.00 price target for the company. Finally, BidaskClub upgraded shares of Ralph Lauren Corporation from a hold rating to a buy rating in a report on Wednesday, June 28th. Four research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $86.77.
Shares of Ralph Lauren Corporation (NYSE:RL) traded up 0.85% during midday trading on Thursday, reaching $75.88. 545,415 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $72.47 and a 200-day moving average price of $77.60. Ralph Lauren Corporation has a 52-week low of $66.06 and a 52-week high of $114.00. The stock’s market cap is $6.15 billion.
Ralph Lauren Corporation (NYSE:RL) last released its quarterly earnings results on Thursday, May 18th. The textile maker reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.11. Ralph Lauren Corporation had a negative net margin of 1.49% and a positive return on equity of 13.57%. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same quarter last year, the business earned $0.88 EPS. The company’s revenue was down 16.4% compared to the same quarter last year. Analysts forecast that Ralph Lauren Corporation will post $4.76 earnings per share for the current year.
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The firm also recently declared a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend was Wednesday, June 28th. Ralph Lauren Corporation’s payout ratio is currently -163.93%.
Institutional investors have recently bought and sold shares of the company. Intellectus Partners LLC increased its position in Ralph Lauren Corporation by 18.2% in the first quarter. Intellectus Partners LLC now owns 1,300 shares of the textile maker’s stock worth $107,000 after buying an additional 200 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new position in Ralph Lauren Corporation during the first quarter worth about $110,000. Daiwa Securities Group Inc. increased its position in Ralph Lauren Corporation by 21.4% in the first quarter. Daiwa Securities Group Inc. now owns 1,700 shares of the textile maker’s stock worth $139,000 after buying an additional 300 shares in the last quarter. Pacer Advisors Inc. increased its position in Ralph Lauren Corporation by 97.0% in the first quarter. Pacer Advisors Inc. now owns 1,988 shares of the textile maker’s stock worth $162,000 after buying an additional 979 shares in the last quarter. Finally, Engine Capital Management LLC purchased a new position in Ralph Lauren Corporation during the first quarter worth about $163,000. 58.15% of the stock is currently owned by hedge funds and other institutional investors.
Ralph Lauren Corporation Company Profile
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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