Ralph Lauren Corporation (RL) Price Target Raised to $98.00 at Citigroup Inc.

Ralph Lauren Corporation (NYSE:RL) had its price target upped by investment analysts at Citigroup Inc. from $91.00 to $98.00 in a research report issued to clients and investors on Friday, November 3rd. The firm presently has a “buy” rating on the textile maker’s stock. Citigroup Inc.’s price objective indicates a potential upside of 6.59% from the stock’s current price.

Several other equities research analysts also recently commented on RL. Piper Jaffray Companies reiterated a “sell” rating and set a $81.00 target price on shares of Ralph Lauren Corporation in a research report on Thursday, August 10th. Atlantic Securities upgraded shares of Ralph Lauren Corporation from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $68.00 to $93.00 in a report on Wednesday, August 9th. UBS AG restated a “positive” rating and set a $90.00 price target (up previously from $73.00) on shares of Ralph Lauren Corporation in a report on Wednesday, August 9th. Royal Bank Of Canada set a $88.00 price target on shares of Ralph Lauren Corporation and gave the stock a “hold” rating in a report on Wednesday, August 9th. Finally, BidaskClub upgraded shares of Ralph Lauren Corporation from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 9th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Ralph Lauren Corporation has a consensus rating of “Hold” and a consensus price target of $88.66.

Ralph Lauren Corporation (NYSE RL) traded up $1.67 during trading hours on Friday, reaching $91.94. 1,251,227 shares of the company were exchanged, compared to its average volume of 1,559,963. The company has a market capitalization of $7,470.00, a price-to-earnings ratio of 15.31, a price-to-earnings-growth ratio of 1.07 and a beta of 0.63. The company has a current ratio of 2.09, a quick ratio of 1.55 and a debt-to-equity ratio of 0.08. Ralph Lauren Corporation has a 1-year low of $66.06 and a 1-year high of $114.00.

Ralph Lauren Corporation (NYSE:RL) last announced its quarterly earnings data on Thursday, November 2nd. The textile maker reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.09. Ralph Lauren Corporation had a net margin of 1.29% and a return on equity of 14.06%. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same period in the prior year, the company posted $1.90 earnings per share. The business’s revenue for the quarter was down 8.6% on a year-over-year basis. analysts anticipate that Ralph Lauren Corporation will post 5.56 EPS for the current fiscal year.

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In other Ralph Lauren Corporation news, insider Valerie Hermann sold 2,400 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $91.22, for a total value of $218,928.00. Following the completion of the sale, the insider now owns 35,028 shares of the company’s stock, valued at $3,195,254.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 32.93% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of RL. Northwestern Mutual Wealth Management Co. boosted its stake in Ralph Lauren Corporation by 7.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,368 shares of the textile maker’s stock worth $101,000 after buying an additional 96 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Ralph Lauren Corporation by 12.0% during the second quarter. Pacer Advisors Inc. now owns 2,226 shares of the textile maker’s stock valued at $164,000 after purchasing an additional 238 shares during the period. Exane Derivatives purchased a new stake in shares of Ralph Lauren Corporation during the second quarter valued at approximately $175,000. Meiji Yasuda Asset Management Co Ltd. purchased a new stake in shares of Ralph Lauren Corporation during the third quarter valued at approximately $205,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new stake in shares of Ralph Lauren Corporation during the third quarter valued at approximately $209,000. 67.33% of the stock is owned by institutional investors and hedge funds.

About Ralph Lauren Corporation

Ralph Lauren Corporation is engaged in the design, marketing and distribution of lifestyle products, including apparel, accessories, home furnishings and other licensed product categories. The Company operates through three segments: Wholesale, Retail and Licensing. Wholesale business consists of sales made to department stores and specialty stores around the world.

Analyst Recommendations for Ralph Lauren Corporation (NYSE:RL)

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