Evercore ISI Issues Positive Forecast for Ralph Lauren (NYSE:RL) Stock Price

Key Points

• Evercore ISI has raised its price target for Ralph Lauren (NYSE:RL) from $320.00 to $335.00, maintaining an "outperform" rating which indicates a potential upside of 11.32% from the current price.
• Ralph Lauren reported a quarterly earnings per share (EPS) of $2.27, exceeding analyst estimates of $2.00, with revenue of $1.70 billion surpassing expected figures.
• The company has initiated a stock buyback program allowing repurchase of $1.50 billion in outstanding shares, signaling management's belief that the stock is undervalued.

Ralph Lauren (NYSE:RL - Get Free Report) had its price target raised by analysts at Evercore ISI from $320.00 to $335.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an "outperform" rating on the textile maker's stock. Evercore ISI's target price indicates a potential upside of 11.32% from the company's current price.

A number of other brokerages have also issued reports on RL. The Goldman Sachs Group boosted their target price on Ralph Lauren from $262.00 to $324.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Bank of America upped their target price on Ralph Lauren from $318.00 to $328.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Wall Street Zen lowered shares of Ralph Lauren from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. Wells Fargo & Company increased their target price on Ralph Lauren from $300.00 to $320.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Finally, Cowen reissued a "buy" rating on shares of Ralph Lauren in a research report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $301.53.

Ralph Lauren Stock Performance

RL traded up $7.17 on Monday, reaching $300.94. 103,504 shares of the stock were exchanged, compared to its average volume of 869,534. Ralph Lauren has a fifty-two week low of $155.96 and a fifty-two week high of $306.34. The company's 50-day moving average price is $280.83 and its 200 day moving average price is $254.81. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.78 and a quick ratio of 1.33. The firm has a market capitalization of $18.15 billion, a PE ratio of 25.89, a PEG ratio of 2.17 and a beta of 1.53.

Ralph Lauren (NYSE:RL - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The textile maker reported $2.27 EPS for the quarter, topping the consensus estimate of $2.00 by $0.27. The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.64 billion. Ralph Lauren had a return on equity of 31.76% and a net margin of 10.49%. The business's quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.71 EPS. As a group, sell-side analysts forecast that Ralph Lauren will post 12.01 EPS for the current fiscal year.

Ralph Lauren announced that its Board of Directors has approved a stock buyback program on Thursday, May 22nd that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the textile maker to buy up to 8.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kestra Private Wealth Services LLC increased its holdings in Ralph Lauren by 4.2% in the 1st quarter. Kestra Private Wealth Services LLC now owns 1,045 shares of the textile maker's stock valued at $231,000 after buying an additional 42 shares during the period. Baader Bank Aktiengesellschaft boosted its holdings in shares of 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 buying an additional 45 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in Ralph Lauren by 93.7% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 122 shares of the textile maker's stock valued at $27,000 after acquiring an additional 59 shares during the period. Blue Trust Inc. lifted its position in Ralph Lauren by 17.6% in the 1st quarter. Blue Trust Inc. now owns 415 shares of the textile maker's stock valued at $92,000 after acquiring an additional 62 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Ralph Lauren by 25.6% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 329 shares of the textile maker's stock valued at $73,000 after purchasing an additional 67 shares in the last quarter. 67.91% of the stock is owned by institutional investors and hedge funds.

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.

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