Ralph Lauren (NYSE:RL) Given New $450.00 Price Target at Bank of America

Key Points

• Bank of America raised its price target on Ralph Lauren to $450 (from $400) and maintains a "buy" rating, implying roughly a 21.8% upside from the prior close.
• Ralph Lauren reported a quarterly beat with EPS of $6.22 versus $5.80 expected and revenue of $2.41 billion (up 12.2% year-over-year), reflecting stronger-than-expected results and healthy margins.
• The stock has a consensus rating of "Moderate Buy" with a consensus target of $399.19, backed mostly by buy/strong-buy analyst recommendations (2 Strong Buy, 15 Buy, 2 Hold, 1 Sell).

Ralph Lauren (NYSE:RL - Get Free Report) had its target price upped by analysts at Bank of America from $400.00 to $450.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the textile maker's stock. Bank of America's price target indicates a potential upside of 21.76% from the company's previous close.

Several other research firms have also commented on RL. Citigroup raised Ralph Lauren from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $360.00 to $400.00 in a research report on Tuesday, March 24th. UBS Group reissued a "buy" rating on shares of Ralph Lauren in a research report on Tuesday, March 3rd. Weiss Ratings raised shares of Ralph Lauren from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Monday. Telsey Advisory Group reissued an "outperform" rating and set a $435.00 price objective on shares of Ralph Lauren in a research report on Thursday, February 5th. Finally, Barclays raised their price objective on shares of Ralph Lauren from $416.00 to $430.00 and gave the stock an "overweight" rating in a research report on Friday, March 6th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $399.19.

Ralph Lauren Price Performance

Shares of RL opened at $369.59 on Thursday. Ralph Lauren has a 1-year low of $198.01 and a 1-year high of $389.15. The stock has a market cap of $22.37 billion, a PE ratio of 25.16, a price-to-earnings-growth ratio of 1.31 and a beta of 1.46. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.10 and a quick ratio of 1.52. The firm has a fifty day moving average price of $355.15 and a 200 day moving average price of $349.36.

Ralph Lauren (NYSE:RL - Get Free Report) last released its quarterly earnings results on Thursday, February 5th. The textile maker reported $6.22 EPS for the quarter, topping the consensus estimate of $5.80 by $0.42. The company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.30 billion. Ralph Lauren had a return on equity of 37.97% and a net margin of 11.73%.The firm's revenue was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.82 earnings per share. As a group, sell-side analysts anticipate that Ralph Lauren will post 12.01 EPS for the current year.

Insider Transactions at Ralph Lauren

In other Ralph Lauren news, CEO Patrice Louvet sold 47,000 shares of the business's stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $354.22, for a total transaction of $16,648,340.00. Following the transaction, the chief executive officer owned 85,552 shares in the company, valued at approximately $30,304,229.44. The trade was a 35.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 38.34% of the company's stock.

Hedge Funds Weigh In On Ralph Lauren

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Ralph Lauren by 5.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,432 shares of the textile maker's stock worth $758,000 after purchasing an additional 174 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Ralph Lauren by 0.9% during the 1st quarter. Empowered Funds LLC now owns 12,334 shares of the textile maker's stock worth $2,723,000 after purchasing an additional 114 shares in the last quarter. Woodline Partners LP boosted its position in shares of Ralph Lauren by 39.5% during the 1st quarter. Woodline Partners LP now owns 3,369 shares of the textile maker's stock worth $744,000 after purchasing an additional 954 shares in the last quarter. Focus Partners Wealth boosted its position in shares of Ralph Lauren by 29.5% during the 1st quarter. Focus Partners Wealth now owns 3,812 shares of the textile maker's stock worth $841,000 after purchasing an additional 869 shares in the last quarter. Finally, Sivia Capital Partners LLC acquired a new stake in shares of Ralph Lauren during the 2nd quarter valued at approximately $386,000. Institutional investors and hedge funds own 67.91% of the company's stock.

Ralph Lauren Company Profile

Ralph Lauren Corporation NYSE: RL is a global designer, marketer and distributor of premium lifestyle products under the Ralph Lauren name and a portfolio of related brands. The company, founded by Ralph Lauren in 1967 and headquartered in New York City, has grown from a single line of men's neckties into a global lifestyle business that spans apparel, accessories and home goods.

Ralph Lauren's product assortment includes menswear, womenswear and childrenswear along with footwear, leather goods, eyewear, fragrances and home furnishings.

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