Citigroup Downgrades Ralph Lauren (NYSE:RL) to Neutral

Ralph Lauren (NYSE:RLGet Rating) was downgraded by research analysts at Citigroup from a “buy” rating to a “neutral” rating in a research note issued to investors on Monday, The Fly reports.

RL has been the topic of a number of other research reports. Wedbush lowered shares of Ralph Lauren from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $150.00 to $127.00 in a report on Monday, March 7th. Wells Fargo & Company downgraded Ralph Lauren from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $135.00 to $110.00 in a research report on Tuesday, April 5th. Deutsche Bank Aktiengesellschaft cut their price objective on Ralph Lauren from $136.00 to $116.00 in a report on Monday, May 16th. Telsey Advisory Group boosted their target price on Ralph Lauren from $152.00 to $160.00 and gave the stock an “outperform” rating in a report on Friday, February 4th. Finally, JPMorgan Chase & Co. raised shares of Ralph Lauren from a “neutral” rating to an “overweight” rating and set a $142.00 price target on the stock in a research report on Thursday, March 17th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $135.23.

Shares of RL stock opened at $93.24 on Monday. The firm’s 50-day simple moving average is $108.02 and its 200-day simple moving average is $115.14. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.88 and a quick ratio of 1.50. Ralph Lauren has a 1-year low of $90.17 and a 1-year high of $135.99. The firm has a market cap of $6.64 billion, a P/E ratio of 13.98 and a beta of 1.38.

Ralph Lauren declared that its board has approved a stock buyback plan on Thursday, February 3rd that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the textile maker to purchase up to 17.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Hedge funds have recently bought and sold shares of the business. Willis Investment Counsel increased its position in Ralph Lauren by 0.8% in the 1st quarter. Willis Investment Counsel now owns 124,429 shares of the textile maker’s stock valued at $14,115,000 after acquiring an additional 935 shares during the period. Virtu Financial LLC bought a new stake in shares of Ralph Lauren during the first quarter valued at about $560,000. Quantamental Technologies LLC lifted its holdings in Ralph Lauren by 48.4% in the first quarter. Quantamental Technologies LLC now owns 5,840 shares of the textile maker’s stock worth $662,000 after purchasing an additional 1,906 shares during the period. Quantbot Technologies LP acquired a new stake in Ralph Lauren in the first quarter worth about $467,000. Finally, Royal Bank of Canada grew its position in Ralph Lauren by 61.1% in the 1st quarter. Royal Bank of Canada now owns 186,370 shares of the textile maker’s stock valued at $21,142,000 after buying an additional 70,684 shares in the last quarter. Institutional investors own 99.89% of the company’s stock.

Ralph Lauren Company Profile (Get Rating)

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 and accessories, which comprise casual shoes, dress shoes, boots, sneakers, sandals, eyewear, watches, fashion and fine jewelry, scarves, hats, gloves, umbrellas, and belts, 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, lighting, tabletop, floor coverings, and giftware; and fragrances.

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