Revlon (REV) Upgraded to “Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of Revlon (NYSE:REV) from a hold rating to a buy rating in a research report released on Thursday morning. They currently have $31.00 target price on the stock.
According to Zacks, “Revlon, Inc. conducts its business exclusively through its subsidiary, Revlon Consumer Products Corp. and its subsidiaries. They manufacture, market and sell an extensive array of cosmetics and skin care, fragrances and personal care products. Their brand names are REVLON, COLORSTAY, REVLON AGE DEFYING, ALMAY and ULTIMA II in cosmetics; MOON DROPS, ETERNA 27, ULTIMA II and JEANNE GATINEAU in skin care; CHARLIE and FIRE & ICE in fragrances; and FLEX, OUTRAGEOUS, MITCHUM, COLORSTAY, COLORSILK, JEAN NATE, PLUSBELLE, BOZZANO and COLORAMA in personal care. “
Separately, ValuEngine raised Revlon from a hold rating to a buy rating in a report on Tuesday, October 9th.
Revlon (NYSE:REV) last announced its quarterly earnings data on Friday, November 9th. The company reported $0.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.40) by $0.54. The firm had revenue of $655.40 million for the quarter, compared to the consensus estimate of $639.60 million. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.38) earnings per share. On average, equities analysts anticipate that Revlon will post -3.15 earnings per share for the current fiscal year.
In related news, Director Ronald O. Perelman purchased 21,191 shares of the stock in a transaction dated Tuesday, December 11th. The stock was bought at an average cost of $24.41 per share, with a total value of $517,272.31. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ronald O. Perelman bought 10,000 shares of the stock in a transaction that occurred on Monday, December 31st. The shares were acquired at an average cost of $25.15 per share, with a total value of $251,500.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 306,191 shares of company stock valued at $7,354,472 over the last three months. Company insiders own 85.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. acquired a new position in Revlon during the 2nd quarter worth approximately $300,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its holdings in Revlon by 81.1% during the 2nd quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 934,389 shares of the company’s stock valued at $16,399,000 after acquiring an additional 418,317 shares during the period. Symons Capital Management Inc. purchased a new stake in Revlon during the 3rd quarter valued at about $206,000. Bank of America Corp DE boosted its holdings in Revlon by 400.7% during the 2nd quarter. Bank of America Corp DE now owns 21,425 shares of the company’s stock valued at $376,000 after acquiring an additional 17,146 shares during the period. Finally, Sterling Capital Management LLC purchased a new stake in Revlon in the 3rd quarter worth approximately $2,810,000. 14.37% of the stock is owned by institutional investors and hedge funds.
Revlon, Inc, through its subsidiaries, manufactures, markets, distributes, and sells beauty and personal care products worldwide. The company's Consumer segment offers cosmetics under the Revlon, Almay, SinfulColors, and Pure Ice brands; women's hair color products under the Revlon ColorSilk brand; beauty tools under the Revlon brand; nail care products under the Cutex brand; and anti-perspirant deodorants under the Mitchum name, as well as skin care line under the Natural Honey brand and hair color line under the Llongueras brand.
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