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

Ralph Lauren (NYSE:RL) had its price objective hoisted by equities researchers at Bank of America from $400.00 to $450.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the textile maker’s stock. Bank of America‘s price target suggests a potential upside of 21.76% from the stock’s current price.

A number of other research analysts have also recently weighed in on the company. Deutsche Bank Aktiengesellschaft set a $422.00 price target on Ralph Lauren in a research report on Thursday, January 8th. Telsey Advisory Group restated an “outperform” rating and set a $435.00 price objective on shares of Ralph Lauren in a research report on Thursday, February 5th. Citigroup upgraded Ralph Lauren from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $360.00 to $400.00 in a research report on Tuesday, March 24th. Evercore set a $420.00 price objective on Ralph Lauren and gave the stock an “outperform” rating in a research report on Friday, February 6th. Finally, BTIG Research lifted their price objective on Ralph Lauren from $400.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $399.19.

Ralph Lauren Price Performance

RL stock opened at $369.59 on Thursday. Ralph Lauren has a 12-month low of $198.01 and a 12-month high of $389.15. The company has a market cap of $22.37 billion, a price-to-earnings ratio of 25.16, a PEG ratio of 1.31 and a beta of 1.46. The firm has a 50 day moving average of $355.15 and a 200-day moving average of $349.36. The company has a current ratio of 2.10, a quick ratio of 1.52 and a debt-to-equity ratio of 0.50.

Ralph Lauren (NYSE:RL) last announced its quarterly earnings results on Thursday, February 5th. The textile maker reported $6.22 earnings per share for the quarter, beating analysts’ consensus estimates of $5.80 by $0.42. Ralph Lauren had a return on equity of 37.97% and a net margin of 11.73%.The business had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.30 billion. During the same quarter last year, the business posted $4.82 earnings per share. The business’s revenue for the quarter was up 12.2% on a year-over-year basis. As a group, equities analysts expect that Ralph Lauren will post 12.01 EPS for the current fiscal year.

Insider Transactions at Ralph Lauren

In related news, CEO Patrice Louvet sold 47,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $354.22, for a total transaction of $16,648,340.00. Following the sale, the chief executive officer owned 85,552 shares in the company, valued at approximately $30,304,229.44. This trade represents a 35.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 38.34% of the company’s stock.

Institutional Trading of Ralph Lauren

Hedge funds have recently bought and sold shares of the company. Blueline Advisors LLC purchased a new position in Ralph Lauren during the fourth quarter worth about $27,000. JPL Wealth Management LLC purchased a new position in Ralph Lauren during the third quarter worth about $27,000. CYBER HORNET ETFs LLC purchased a new position in Ralph Lauren during the second quarter worth about $28,000. Aventura Private Wealth LLC purchased a new position in Ralph Lauren during the fourth quarter worth about $29,000. Finally, Rothschild Investment LLC lifted its position in Ralph Lauren by 61.3% during the third quarter. Rothschild Investment LLC now owns 100 shares of the textile maker’s stock worth $31,000 after buying an additional 38 shares during the period. 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.