On Jan. 06, Louvet Patrice divested U.S. $9,391,564 in shares of Ralph Lauren Corporation. The Pres, CEO sold 87,069 shares at a price per share of $107.86. The transaction decreased this specific insider’s holdings to 562,302 shares worth around $61.56 million at present.
Citigroup took its Ralph Lauren Corporation [RL] rating to the equivalent of a Buy from a Neutral, and the price target to $134, in a research note dated December 11, 2020. That figure represents around a 18.3% premium from where the company’s shares closed on Friday. Other analysts also revised their coverage, with Citigroup’s analysts upgrading the shares from “a Neutral” rating to “a Buy” rating in a research note to investors issued in mid December. Meanwhile, Goldman had raised its rating on RL to “Buy” from the earlier “Sell”, in a research note produced for clients December 10, 2020. In addition, there was a downgrade from BofA Securities on November 10, 2020. The rater changed RL from “a Buy” to “a Neutral”.
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Is Ralph Lauren Corporation [NYSE:RL] a Good Buy Right Now?
It should be noted that RL technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 100% Buy in the last week and compares with 88% Buy in the past month. Data from Ralph Lauren Corporation’s Trend Spotter indicated that the signals were Weakening. The stock current average is 1.08 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 1.59 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 1.41 million shares.
RL Price Performance
On Wall Street, Ralph Lauren Corporation [NYSE:RL] finished Friday’s session down -2.41% at $109.48. The stock went up to $112.83 at the same session while its lowest single day price was $107.83. In the last five days, it saw a rise of about 5.53%, Ralph Lauren Corporation shares gained by almost 5.53% since the beginning of the year. However, the share price has dropped to as low as -14.66% below its one year high. On 01/07/21, the company shares recorded $113.27, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $99.33. The company’s shares have declined by -7.17% in the past year. The 50-day SMA achieved is $90.14 while the 200-day SMA is $76.89. Volume dropped to 1.28 million from 1.44 million in the previous session.
RL Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 107.26 level, and in case of violation of this particular level, it will cause more drop to 105.05 level. On the upper level, 115.05 is still the key resistance. The stock may increase to the subsequent resistance at 112.26. The Relative Strength Index (RSI) pinned on the 14-day chart is 65.71, implying a neutral technical stance while the MACD stands at 6.55, meaning price will increase in the next trading period. Percent R indicator moved to 25.37%, implying bullish price movement. Stochastic %K at 85.89% suggest selling the stock.
What is the short interest in Ralph Lauren Corporation?
Short interest in the Ralph Lauren Corporation stock has surged, increasing by 1.22 million shares to total 3.64 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 4.86 million, data from Yahoo Finance shows. The decrease of -33.52% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 8.59% of the overall float for the stock.
Ralph Lauren Corporation’s Biggest Shareholders: Who Owns Ralph Lauren Corporation [RL]?
Filings by The Vanguard Group, Inc. showed that the firm now holds a total of 4,457,591 shares or roughly 9.24% of the outstanding RL shares. This means their shares have reduced by -373,194 from the 4,457,591 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, BlackRock Fund Advisors updated stake is worth $288,370,990. Details in the latest 13F filings reveal that JPMorgan Investment Management, I acquired their 6.66% stake valued at $251,422,173 while Renaissance Technologies LLC cut theirs at $226,302,311. During the last quarter, JPMorgan Investment Management, I raised 183,015 of its shares in Ralph Lauren Corporation while Renaissance Technologies LLC sold -1,130,600 shares. The SSgA Funds Management, Inc.’s holdings currently number 2,532,030 shares at $277206644.4. According to the firm’s last 13F report, T. Rowe Price Associates, Inc. shares in the company at filing stood at 2,298,308 shares, roughly $197,079,911.
RL Earnings Forecast For The Current Quarter
Ralph Lauren Corporation [RL] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $1.47B and an earnings per share of $1.58 for Dec 2020. Looking further ahead, the company is expected to report revenue of $1.32B at an EPS of $0.26 for Mar 2021. The estimates represent downside of 26.40% and 326.25% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
RL Earnings Estimates For The Current Year
For the financial year, Ralph Lauren Corporation [NYSE:RL] is expected to bring in revenue of $4.47B. The returns are nearly $-1.69 billion lower than the company’s actual revenue recorded in the fiscal year 2020. In terms of EPS for the 2021, estimate put it at 1.5, lower than that of FY20 by -$5.06. Estimates put this year’s earnings growth at -77.10%, 325.30% for the next, and at an annual 1.30% over the next 5-year period. As for sales, forecasts are for a decrease of -27.40% in the current fiscal year and a further 26.40% over the following year.
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What are analyst thoughts on Ralph Lauren Corporation?
Looking forward to the Ralph Lauren Corporation share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for Ralph Lauren Corporation stock at $96.00 within the next 12 months, which represents almost -14.04 per cent growth from its previous closing price of $109.48. The highest analysts’ target for Ralph Lauren Corporation stock projections is $145.00 and the lowest one is $72.00. Still, 21 analysts sharing their consensus rating for RL stock in 2021 agree that it is an Overweight.
