Barclays Lowers Ralph Lauren (NYSE:RL) Price Target to $353.00

Key Points

• Barclays has lowered its price objective for Ralph Lauren's stock from $360.00 to $353.00, maintaining an "overweight" rating, which suggests a potential upside of 12.04% from the previous close.
• The stock has received favorable ratings from multiple analysts, with Bank of America increasing its target price to $328.00 and several others reiterating "buy" or "strong buy" ratings.
• Ralph Lauren's Board of Directors has approved a $1.50 billion share repurchase plan, indicating confidence in the stock's undervaluation.

Ralph Lauren (NYSE:RL - Free Report) had its price target reduced by Barclays from $360.00 to $353.00 in a report issued on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the textile maker's stock.

RL has been the topic of several other research reports. Zacks Research upgraded shares of Ralph Lauren to a "strong-buy" rating in a research note on Tuesday, August 12th. Wall Street Zen upgraded shares of Ralph Lauren from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. JPMorgan Chase & Co. raised their price objective on shares of Ralph Lauren from $355.00 to $406.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. BMO Capital Markets raised their price objective on shares of Ralph Lauren from $197.00 to $205.00 and gave the stock an "underperform" rating in a research note on Friday, May 23rd. Finally, Needham & Company LLC raised their price objective on shares of Ralph Lauren from $335.00 to $350.00 and gave the stock a "buy" rating in a research note on Friday, September 12th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $311.41.

Ralph Lauren Stock Performance

Shares of NYSE:RL traded down $2.00 during trading on Wednesday, reaching $311.98. The stock had a trading volume of 1,432,535 shares, compared to its average volume of 569,889. Ralph Lauren has a 52 week low of $176.61 and a 52 week high of $321.77. The firm has a market capitalization of $18.90 billion, a price-to-earnings ratio of 24.92, a P/E/G ratio of 1.59 and a beta of 1.60. The company has a quick ratio of 1.30, a current ratio of 1.84 and a debt-to-equity ratio of 0.58. The stock has a fifty day simple moving average of $298.68 and a two-hundred day simple moving average of $263.80.

Ralph Lauren (NYSE:RL - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The textile maker reported $3.77 EPS for the quarter, beating analysts' consensus estimates of $3.50 by $0.27. Ralph Lauren had a net margin of 10.91% and a return on equity of 33.72%. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter last year, the firm posted $2.70 earnings per share. The company's quarterly revenue was up 13.7% compared to the same quarter last year. As a group, analysts anticipate that Ralph Lauren will post 12.01 earnings per share for the current fiscal year.

Ralph Lauren Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Friday, September 26th will be issued a $0.9125 dividend. This represents a $3.65 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, September 26th. Ralph Lauren's payout ratio is currently 29.15%.

Institutional Trading of Ralph Lauren

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kestra Private Wealth Services LLC raised its holdings in Ralph Lauren by 4.2% during the 1st quarter. Kestra Private Wealth Services LLC now owns 1,045 shares of the textile maker's stock worth $231,000 after purchasing an additional 42 shares during the last quarter. Baader Bank Aktiengesellschaft raised its holdings in Ralph Lauren by 3.4% during the 1st quarter. Baader Bank Aktiengesellschaft now owns 1,367 shares of the textile maker's stock worth $300,000 after purchasing an additional 45 shares during the last quarter. Coldstream Capital Management Inc. raised its holdings in Ralph Lauren by 6.3% during the 2nd quarter. Coldstream Capital Management Inc. now owns 806 shares of the textile maker's stock worth $221,000 after purchasing an additional 48 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in Ralph Lauren by 57.1% during the 2nd quarter. Geneos Wealth Management Inc. now owns 143 shares of the textile maker's stock worth $39,000 after purchasing an additional 52 shares during the last quarter. Finally, Modera Wealth Management LLC raised its holdings in Ralph Lauren by 5.8% during the 2nd quarter. Modera Wealth Management LLC now owns 1,028 shares of the textile maker's stock worth $282,000 after purchasing an additional 56 shares during the last quarter. 67.91% of the stock is owned by institutional investors.

Ralph Lauren Company Profile

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; footwear and accessories, which comprise casual shoes, dress shoes, boots, sneakers, sandals, eyewear, watches, fashion and fine jewelry, scarves, hats, gloves, and umbrellas, as well as leather goods, such as handbags, luggage, small leather goods, and belts; home products consisting of bed and bath lines, furniture, fabric and wallcoverings, floor coverings, lighting, tabletop, kitchen linens, floor coverings, dining, decorative accessories, and giftware; and fragrances.