Ralph Laurens second-quarter revenue, reported on Thursday, slightly exceeded the median analyst estimate, as support was drawn by higher sales of full-price apparel as well as stronger demand for the brand in the United Kingdom.
Ralph Lauren shares closed higher for a second consecutive trading session on Thursday. It has also been the steepest daily surge since October 20th. The stock went up 2.55% ($2.28) to $91.73, after touching an intraday high at $97.02, or a price level not seen since December 16th 2016 ($97.10).
In the week ended on October 29th the shares of the apparel & accessories manufacturer added 0.80% to their market value compared to a week ago, which marked a second consecutive period of gains.
The stock has extended its advance to 2.57% so far during the current month, following a 1.29% surge in October. The latter has been a fifth straight month of gains.
For the entire past year, Ralph Lauren shares lost 18.98%. However, the stock has rebounded 1.56% so far in 2017.
Total revenue shrank 9% year-on-year to $1.67 billion during the second quarter ended on September 30th, in part due to the companys move away from department stores and factory outlets. However, the median forecast by analysts had pointed to a larger drop in revenue – to $1.65 billion.
Meanwhile, Ralph Laurens net earnings were reported to have surged to $143.8 million ($1.75 per share) during the second quarter from $45.7 million ($0.55 per share) during the same period a year ago.
According to CNN Money, the 16 analysts, offering 12-month forecasts regarding Ralph Lauren’s stock price, have a median target of $88.50, with a high estimate of $100.00 and a low estimate of $79.00. The median estimate is a 3.52% decrease compared to the closing price of $91.73 on November 2nd.
The same media also reported that 17 out of 22 surveyed investment analysts had rated Ralph Lauren’s stock as “Hold”, while 3 – as “Sell”. On the other hand, 2 analysts had recommended buying the stock.
Daily and Weekly Pivot Levels
With the help of the Camarilla calculation method, todays levels of importance for the Ralph Lauren stock are presented as follows:
R1 – $92.48
R2 – $93.23
R3 (Range Resistance – Sell) – $93.99
R4 (Long Breakout) – $96.24
R5 (Breakout Target 1) – $98.87
R6 (Breakout Target 2) – $100.20
S1 – $90.98
S2 – $90.23
S3 (Range Support – Buy) – $89.48
S4 (Short Breakout) – $87.22
S5 (Breakout Target 1) – $84.59
S6 (Breakout Target 2) – $83.26
By using the traditional method of calculation, the weekly levels of importance for Ralph Lauren Corporation (RL) are presented as follows:
Central Pivot Point – $91.04
R1 – $92.89
R2 – $94.68
R3 – $96.53
R4 – $98.37
S1 – $89.25
S2 – $87.40
S3 – $85.61
S4 – $83.81