Ralph Lauren Corp (NYSE:RL) was the recipient of a large drop in short interest during the month of July. As of July 31st, there was short interest totalling 4,383,600 shares, a drop of 15.2% from the June 30th total of 5,171,300 shares. Approximately 8.4% of the company’s shares are short sold. Based on an average daily trading volume, of 1,240,000 shares, the short-interest ratio is currently 3.5 days.
Shares of NYSE:RL traded down $2.78 during mid-day trading on Thursday, hitting $85.07. 2,463,817 shares of the company traded hands, compared to its average volume of 1,088,024. The firm has a market capitalization of $7.10 billion, a price-to-earnings ratio of 11.83, a P/E/G ratio of 1.26 and a beta of 0.86. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.68 and a current ratio of 2.30. Ralph Lauren has a 52-week low of $83.50 and a 52-week high of $141.62. The stock’s 50 day moving average price is $106.64.
Ralph Lauren (NYSE:RL) last posted its quarterly earnings data on Tuesday, July 30th. The textile maker reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.11. Ralph Lauren had a return on equity of 18.33% and a net margin of 6.91%. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the previous year, the business earned $1.54 EPS. Ralph Lauren’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities analysts expect that Ralph Lauren will post 7.73 earnings per share for the current fiscal year.
A number of analysts have issued reports on RL shares. TheStreet lowered Ralph Lauren from a “b” rating to a “c+” rating in a research note on Tuesday, May 14th. Telsey Advisory Group restated an “outperform” rating and issued a $130.00 price objective (down from $155.00) on shares of Ralph Lauren in a report on Wednesday, July 31st. Credit Suisse Group cut their price objective on Ralph Lauren from $158.00 to $145.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Zacks Investment Research downgraded Ralph Lauren from a “buy” rating to a “hold” rating in a report on Monday, May 20th. Finally, Nomura cut their price objective on Ralph Lauren from $129.00 to $123.00 and set a “neutral” rating on the stock in a report on Wednesday, May 15th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. Ralph Lauren presently has an average rating of “Hold” and a consensus target price of $131.00.
In other Ralph Lauren news, major shareholder Family L.L.C. Lauren sold 71,428 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $112.22, for a total value of $8,015,650.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders sold 428,568 shares of company stock worth $46,648,913. 34.26% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the business. Signaturefd LLC grew its position in shares of Ralph Lauren by 3,333.3% in the 1st quarter. Signaturefd LLC now owns 206 shares of the textile maker’s stock worth $27,000 after acquiring an additional 200 shares in the last quarter. CWM LLC boosted its position in Ralph Lauren by 589.2% during the 2nd quarter. CWM LLC now owns 255 shares of the textile maker’s stock worth $29,000 after acquiring an additional 218 shares during the period. CSat Investment Advisory L.P. boosted its position in Ralph Lauren by 40.3% during the 2nd quarter. CSat Investment Advisory L.P. now owns 515 shares of the textile maker’s stock worth $59,000 after acquiring an additional 148 shares during the period. Point72 Hong Kong Ltd boosted its position in Ralph Lauren by 28.8% during the 2nd quarter. Point72 Hong Kong Ltd now owns 997 shares of the textile maker’s stock worth $113,000 after acquiring an additional 223 shares during the period. Finally, Psagot Investment House Ltd. acquired a new position in Ralph Lauren during the 2nd quarter worth $165,000. Institutional investors own 65.51% of the company’s stock.
About Ralph Lauren
Ralph Lauren Corp. engages in the design, marketing and distribution of premium lifestyle products. The firm offers apparel, accessories, home furnishings, and other licensed product. It operates through the following segments: North America, Europe, and Asia. The North America segment consists of sales of Ralph Lauren branded apparel, accessories, home furnishings, and related products made through the Company’s wholesale and retail businesses in the U.S.
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