Ralph Lauren (NYSE:RL) Reaches New 12-Month High on Analyst Upgrade

Ralph Lauren Co. (NYSE:RL)’s share price hit a new 52-week high on Wednesday after TD Cowen raised their price target on the stock from $208.00 to $251.00. TD Cowen currently has a buy rating on the stock. Ralph Lauren traded as high as $207.24 and last traded at $206.49, with a volume of 21920 shares. The stock had previously closed at $203.36.

Other analysts also recently issued reports about the company. Guggenheim raised their target price on Ralph Lauren from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Barclays raised their price objective on shares of Ralph Lauren from $195.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. StockNews.com cut Ralph Lauren from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Cfra set a $171.00 target price on shares of Ralph Lauren in a report on Thursday, October 17th. Finally, The Goldman Sachs Group raised their price target on Ralph Lauren from $171.00 to $193.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Ralph Lauren has an average rating of “Moderate Buy” and a consensus target price of $205.10.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Simmons Bank grew its position in Ralph Lauren by 2.3% during the 3rd quarter. Simmons Bank now owns 2,703 shares of the textile maker’s stock worth $524,000 after purchasing an additional 62 shares during the last quarter. QRG Capital Management Inc. grew its holdings in shares of Ralph Lauren by 2.8% during the first quarter. QRG Capital Management Inc. now owns 2,378 shares of the textile maker’s stock worth $447,000 after buying an additional 65 shares during the last quarter. GAMMA Investing LLC increased its position in Ralph Lauren by 11.3% in the 3rd quarter. GAMMA Investing LLC now owns 672 shares of the textile maker’s stock valued at $130,000 after acquiring an additional 68 shares during the period. Oak Thistle LLC raised its stake in Ralph Lauren by 6.2% during the 2nd quarter. Oak Thistle LLC now owns 1,236 shares of the textile maker’s stock valued at $216,000 after acquiring an additional 72 shares during the last quarter. Finally, Mather Group LLC. grew its stake in shares of Ralph Lauren by 26.3% in the 2nd quarter. Mather Group LLC. now owns 432 shares of the textile maker’s stock valued at $81,000 after purchasing an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 67.91% of the company’s stock.

Ralph Lauren Stock Up 6.6 %

The company has a current ratio of 2.19, a quick ratio of 1.53 and a debt-to-equity ratio of 0.59. The firm has a 50 day simple moving average of $191.89 and a two-hundred day simple moving average of $178.83. The company has a market capitalization of $13.73 billion, a PE ratio of 21.38, a P/E/G ratio of 1.63 and a beta of 1.49.

Ralph Lauren (NYSE:RL) last released its earnings results on Wednesday, August 7th. The textile maker reported $2.70 EPS for the quarter, beating analysts’ consensus estimates of $2.45 by $0.25. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.49 billion. Ralph Lauren had a return on equity of 28.79% and a net margin of 10.27%. Ralph Lauren’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.34 earnings per share. Research analysts expect that Ralph Lauren Co. will post 11.26 EPS for the current year.

Ralph Lauren Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were given a $0.825 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $3.30 annualized dividend and a dividend yield of 1.49%. Ralph Lauren’s dividend payout ratio is currently 31.82%.

About Ralph Lauren

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.