Ralph Lauren (NYSE:RL) Sets New 52-Week High After Analyst Upgrade

Ralph Lauren Co. (NYSE:RL) hit a new 52-week high during trading 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 have also recently issued reports about the stock. The Goldman Sachs Group lifted their target price on shares of Ralph Lauren from $171.00 to $193.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Cfra set a $171.00 price objective on Ralph Lauren in a research report on Thursday, October 17th. Guggenheim increased their target price on Ralph Lauren from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Telsey Advisory Group restated an “outperform” rating and issued a $207.00 price target on shares of Ralph Lauren in a report on Thursday, September 26th. Finally, StockNews.com lowered shares of Ralph Lauren from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Ralph Lauren has an average rating of “Moderate Buy” and an average target price of $205.10.

Institutional Trading of Ralph Lauren

Large investors have recently bought and sold shares of the company. Simmons Bank boosted its stake in shares of Ralph Lauren by 2.3% in the third quarter. Simmons Bank now owns 2,703 shares of the textile maker’s stock valued at $524,000 after purchasing an additional 62 shares during the period. QRG Capital Management Inc. boosted its position in Ralph Lauren by 2.8% in the 1st quarter. QRG Capital Management Inc. now owns 2,378 shares of the textile maker’s stock valued at $447,000 after buying an additional 65 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Ralph Lauren by 11.3% during the third quarter. GAMMA Investing LLC now owns 672 shares of the textile maker’s stock valued at $130,000 after acquiring an additional 68 shares in the last quarter. Oak Thistle LLC increased its position in shares of Ralph Lauren by 6.2% during the second quarter. Oak Thistle LLC now owns 1,236 shares of the textile maker’s stock worth $216,000 after acquiring an additional 72 shares during the last quarter. Finally, Mather Group LLC. boosted its holdings in Ralph Lauren by 26.3% in the second 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. Institutional investors and hedge funds own 67.91% of the company’s stock.

Ralph Lauren Trading 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 business has a 50 day simple moving average of $191.89 and a two-hundred day simple moving average of $178.83. The stock has a market cap of $13.73 billion, a price-to-earnings ratio of 21.38, a price-to-earnings-growth ratio of 1.63 and a beta of 1.49.

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

Ralph Lauren Announces Dividend

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