Today’s big question for investors is, “what’s going on with Ralph Lauren Corporation (NYSE:RL) stock? Its price is jumping 2.83 points, trading at $108.38 levels, and is up 2.68% from its previous close of $105.55. The shares seem to have an active trading volume day with a reported 333916 contracts so far this session. RL shares had a relatively better volume day versus average trading capacity of 1.15 million shares, but with a 48.33 million float and a -3.1% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for RL stock indicates that the average analyst price target is $124.06 per share. This means the stock has a potential increase of 14.47% from where the RL share price has been trading recently which is between $103.9 and $106.
During the recent trading session for Ralph Lauren Corporation (NYSE:RL), the company witnessed their stock drop by $-0.37 over a week and surge $6.08 from the price 20 days ago. When compared to their established 52-week high of $133.63, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 04/24/19. The recent low of $82.69 stood for a -18.9% since 08/26/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.93 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Ralph Lauren Corporation, the two-week RSI stands at 56.19. This figure suggests that RL stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current RL readings is similarly very revealing as it has a stochastic reading of 32.16% at this stage. This figure means that RL share price today is being neutral.
Technical chart claims that Ralph Lauren Corporation (RL) would settle between $106.4/share to $107.25/share level. However, if the stock price goes below the $104.3 mark, then the market for Ralph Lauren Corporation becomes much weaker. If that happens, the stock price might even plunge as low as $103.05 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.42. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Barclays, assumed coverage of RL assigning Overweight rating, according to their opinion released on November 13. Atlantic Equities analysts bumped their rating on Ralph Lauren Corporation (NYSE:RL) stock from Neutral to Overweight in a separate flash note issued to investors on September 24. Analysts at BofA/Merrill are sticking to their Underperform stance. However, on August 27, they lifted price target for these shares to $76 from $98.
RL equity has an average rating of 2.58, with the figure leaning towards a bullish end. 15 analysts who tracked the company were contacted by Reuters. Amongst them, 5 rated the stock as a hold while the remaining 10 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 9 analysts rated Ralph Lauren Corporation (NYSE:RL) as a buy or a strong buy while 1 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, RL stock price is currently trading at 12.39X forward 12-month Consensus EPS estimates, and its P/E ratio is 18.6 while for the average stock in the same group, the multiple is 21.9. Ralph Lauren Corporation current P/B ratio of 2.7 means it is trading at a discount against its industry’s 3.6.