Ralph Lauren (NYSE:RL) Reaches New 52-Week High After Analyst Upgrade

Ralph Lauren Co. (NYSE:RL)’s share price hit a new 52-week high during mid-day trading on Tuesday after Cowen upgraded the stock from a market perform rating to an outperform rating. Cowen now has a $152.00 price target on the stock, up from their previous price target of $110.00. Ralph Lauren traded as high as $137.04 and last traded at $135.27, with a volume of 1735 shares. The stock had previously closed at $136.31.

A number of other equities analysts have also recently commented on the stock. Telsey Advisory Group lifted their target price on shares of Ralph Lauren from $120.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, February 17th. Zacks Investment Research raised shares of Ralph Lauren from a “hold” rating to a “strong-buy” rating and set a $127.00 target price on the stock in a report on Tuesday, January 12th. Wells Fargo & Company lifted their target price on shares of Ralph Lauren from $132.00 to $150.00 and gave the company an “overweight” rating in a report on Tuesday. Piper Sandler lifted their target price on shares of Ralph Lauren from $74.00 to $103.00 and gave the company a “neutral” rating in a report on Tuesday, January 26th. Finally, UBS Group raised shares of Ralph Lauren from a “neutral” rating to a “buy” rating in a research note on Monday, January 11th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $116.00.

In related news, EVP Andrew Howard Smith sold 9,763 shares of the business’s stock in a transaction dated Thursday, February 25th. The shares were sold at an average price of $120.00, for a total value of $1,171,560.00. Also, CFO Jane Nielsen sold 10,627 shares of the business’s stock in a transaction dated Monday, April 12th. The stock was sold at an average price of $127.69, for a total transaction of $1,356,961.63. Following the completion of the sale, the chief financial officer now owns 114,341 shares in the company, valued at $14,600,202.29. The disclosure for this sale can be found here. Insiders sold a total of 23,554 shares of company stock worth $2,924,022 over the last quarter. Insiders own 35.28% of the company’s stock.

A number of hedge funds have recently made changes to their positions in RL. Schonfeld Strategic Advisors LLC raised its stake in Ralph Lauren by 47.8% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 57,478 shares of the textile maker’s stock valued at $3,907,000 after purchasing an additional 18,586 shares during the last quarter. Brinker Capital Investments LLC acquired a new position in Ralph Lauren in the 3rd quarter valued at about $463,000. Van ECK Associates Corp raised its stake in Ralph Lauren by 13.0% in the 3rd quarter. Van ECK Associates Corp now owns 3,017 shares of the textile maker’s stock valued at $205,000 after purchasing an additional 348 shares during the last quarter. Sei Investments Co. raised its stake in Ralph Lauren by 13.3% in the 3rd quarter. Sei Investments Co. now owns 215,377 shares of the textile maker’s stock valued at $14,639,000 after purchasing an additional 25,209 shares during the last quarter. Finally, Louisiana State Employees Retirement System acquired a new position in Ralph Lauren in the 4th quarter valued at about $311,000. 65.35% of the stock is owned by hedge funds and other institutional investors.

The stock’s 50 day moving average price is $124.10 and its 200 day moving average price is $105.22. The company has a current ratio of 2.51, a quick ratio of 1.94 and a debt-to-equity ratio of 0.64. The company has a market cap of $9.90 billion, a price-to-earnings ratio of -108.33, a P/E/G ratio of 10.41 and a beta of 1.45.

Ralph Lauren (NYSE:RL) last posted its quarterly earnings data on Wednesday, February 3rd. The textile maker reported $1.67 EPS for the quarter, beating the Zacks’ consensus estimate of $1.63 by $0.04. Ralph Lauren had a negative net margin of 1.74% and a positive return on equity of 5.14%. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter in the prior year, the company posted $2.86 EPS. The company’s quarterly revenue was down 18.2% compared to the same quarter last year. On average, equities analysts expect that Ralph Lauren Co. will post 1.28 earnings per share for the current fiscal year.

About Ralph Lauren (NYSE:RL)

Ralph Lauren Corporation designs, markets, and distributes lifestyle products in North America, Europe, Asia, and internationally. The company offers apparel, including a range of men's, women's, and children's clothing accessories, which comprise sandals, eyewear, watches, fashion and fine jewelry, scarves, hats, gloves, umbrellas, and belts, as well as leather goods, such as handbags, luggage, small leather goods, and belts; home products consisting of bedding and bath products, furniture, fabrics and wallpapers, lightings, tabletops, floorcoverings, and giftware; and fragrances.

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