Ralph Lauren Corporation (RL) Given a $81.00 Price Target by Piper Jaffray Companies Analysts

Piper Jaffray Companies set a $81.00 target price on Ralph Lauren Corporation (NYSE:RL) in a research report sent to investors on Thursday morning. The firm currently has a sell rating on the textile maker’s stock.

Several other equities analysts have also recently weighed in on RL. BidaskClub raised Ralph Lauren Corporation from a hold rating to a buy rating in a report on Wednesday, June 28th. Royal Bank Of Canada reissued a hold rating and set a $75.00 price target on shares of Ralph Lauren Corporation in a report on Friday, July 7th. Buckingham Research reaffirmed a neutral rating and issued a $68.00 target price on shares of Ralph Lauren Corporation in a report on Monday, July 17th. Cowen and Company reaffirmed a hold rating and issued a $80.00 target price (up from $78.00) on shares of Ralph Lauren Corporation in a report on Tuesday, July 18th. Finally, Needham & Company LLC began coverage on Ralph Lauren Corporation in a report on Tuesday, July 18th. They issued a hold rating on the stock. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $87.37.

Shares of Ralph Lauren Corporation (RL) traded up 4.62% during mid-day trading on Thursday, hitting $90.37. The company’s stock had a trading volume of 1,840,794 shares. Ralph Lauren Corporation has a 52-week low of $66.06 and a 52-week high of $114.00. The stock’s 50 day moving average price is $88.62 and its 200 day moving average price is $79.52. The company’s market cap is $7.34 billion.

Ralph Lauren Corporation (NYSE:RL) last released its quarterly earnings results on Tuesday, August 8th. The textile maker reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.15. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Ralph Lauren Corporation had a positive return on equity of 13.80% and a negative net margin of 0.27%. The company’s revenue was down 13.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.06 EPS. Equities analysts forecast that Ralph Lauren Corporation will post $5.34 EPS for the current year.

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The firm also recently declared a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Friday, September 29th were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $2.00 dividend on an annualized basis and a yield of 2.21%. Ralph Lauren Corporation’s payout ratio is presently -869.57%.

Hedge funds have recently modified their holdings of the business. UBS Asset Management Americas Inc. grew its position in shares of Ralph Lauren Corporation by 11.0% during the first quarter. UBS Asset Management Americas Inc. now owns 145,367 shares of the textile maker’s stock valued at $11,865,000 after purchasing an additional 14,421 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new position in shares of Ralph Lauren Corporation during the first quarter valued at about $110,000. OppenheimerFunds Inc. grew its position in shares of Ralph Lauren Corporation by 27.0% during the first quarter. OppenheimerFunds Inc. now owns 10,588 shares of the textile maker’s stock valued at $864,000 after purchasing an additional 2,253 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Ralph Lauren Corporation by 3.1% during the first quarter. Principal Financial Group Inc. now owns 87,815 shares of the textile maker’s stock valued at $7,167,000 after purchasing an additional 2,670 shares in the last quarter. Finally, Royce & Associates LP purchased a new position in shares of Ralph Lauren Corporation during the first quarter valued at about $2,898,000. Institutional investors and hedge funds own 62.84% of the company’s stock.

Ralph Lauren Corporation Company Profile

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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