Ralph Lauren (NYSE:RL) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Key Points

• Analysts at Needham & Company LLC have raised their price target for Ralph Lauren stock from $335 to $350, indicating a potential upside of 10.72% from its previous close while maintaining a "buy" rating.
• Ralph Lauren reported earnings per share of $3.77 for its last quarter, exceeding the consensus estimate of $3.50, and its revenue also surpassed expectations at $1.72 billion.
• The company has initiated a share buyback program authorizing the purchase of up to $1.50 billion in outstanding shares, suggesting confidence in its stock valuation.

Ralph Lauren (NYSE:RL - Get Free Report) had its price objective increased by stock analysts at Needham & Company LLC from $335.00 to $350.00 in a research note issued on Friday, Marketbeat Ratings reports. The brokerage presently has a "buy" rating on the textile maker's stock. Needham & Company LLC's price target indicates a potential upside of 10.72% from the company's previous close.

Other research analysts also recently issued reports about the company. Jefferies Financial Group reaffirmed a "buy" rating on shares of Ralph Lauren in a research note on Wednesday, August 27th. Telsey Advisory Group raised their target price on Ralph Lauren from $315.00 to $335.00 and gave the company an "outperform" rating in a research report on Monday, August 4th. Cfra Research upgraded Ralph Lauren from a "moderate sell" rating to a "hold" rating in a research report on Monday, August 11th. The Goldman Sachs Group raised 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. Finally, Wall Street Zen downgraded Ralph Lauren from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $308.76.

Ralph Lauren Stock Up 1.1%

Ralph Lauren stock opened at $316.11 on Friday. The firm has a market cap of $19.15 billion, a price-to-earnings ratio of 25.25, a price-to-earnings-growth ratio of 1.58 and a beta of 1.60. Ralph Lauren has a 52 week low of $173.59 and a 52 week high of $321.77. The business's 50-day moving average price is $295.46 and its 200 day moving average price is $261.89. The company has a quick ratio of 1.30, a current ratio of 1.84 and a debt-to-equity ratio of 0.58.

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

Ralph Lauren declared that its Board of Directors has approved a share buyback program on Thursday, May 22nd that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the textile maker to reacquire up to 8.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board believes its stock is undervalued.

Institutional Investors Weigh In On Ralph Lauren

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hantz Financial Services Inc. raised its position in Ralph Lauren by 1,228.6% in the second quarter. Hantz Financial Services Inc. now owns 93 shares of the textile maker's stock valued at $26,000 after purchasing an additional 86 shares during the period. MassMutual Private Wealth & Trust FSB grew its stake in shares of 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 buying an additional 59 shares in the last quarter. CYBER HORNET ETFs LLC acquired a new stake in shares of Ralph Lauren in the second quarter valued at $28,000. Sentry Investment Management LLC grew its stake in shares of Ralph Lauren by 178.0% in the first quarter. Sentry Investment Management LLC now owns 139 shares of the textile maker's stock valued at $31,000 after buying an additional 89 shares in the last quarter. Finally, MUFG Securities EMEA plc acquired a new stake in shares of Ralph Lauren in the second quarter valued at $32,000. Hedge funds and other institutional investors own 67.91% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.