Zacks Investment Research upgraded shares of Perry Ellis International Inc. (NASDAQ:PERY) from a hold rating to a buy rating in a research note published on Friday morning. They currently have $26.00 price objective on the textile maker’s stock.
According to Zacks, “Perry Ellis International, Inc. is a leading designer, distributor and licensor of a broad line of high quality men’s and women’s apparel, accessories, and fragrances. The company’s collection of dress and casual shirts, golf sportswear, sweaters, dress and casual pants and shorts, jeans wear, active wear and men’s and women’s swimwear is available through all major levels of retail distribution. The company, through its wholly owned subsidiaries, owns a portfolio of nationally and internationally recognized brands including Perry Ellis, Jantzen, Cubavera, Munsingwear, Savane, Original Penguin, Grand Slam, Natural Issue, Pro Player, the Havanera Co., Axis, Tricots St. Raphael, Gotcha, Girl Star and MCD. The company enhances its roster of brands by licensing trademarks from third parties including Dockers for outerwear, Nike and JAG for swimwear, and PING and PGA TOUR for golf apparel. “
PERY has been the topic of several other reports. ValuEngine lowered Perry Ellis International from a buy rating to a hold rating in a research note on Friday, June 2nd. TheStreet lowered Perry Ellis International from a b- rating to a c+ rating in a research report on Friday, August 18th. Wunderlich restated a buy rating and set a $35.00 price target on shares of Perry Ellis International in a research report on Friday, May 19th. KeyCorp restated a hold rating on shares of Perry Ellis International in a research report on Thursday, August 24th. Finally, BidaskClub lowered Perry Ellis International from a hold rating to a sell rating in a research report on Friday, August 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $28.25.
Perry Ellis International (NASDAQ:PERY) opened at 22.29 on Friday. The firm has a market cap of $336.00 million, a price-to-earnings ratio of 19.52 and a beta of 0.65. The company’s 50-day moving average price is $20.22 and its 200-day moving average price is $20.11. Perry Ellis International has a 52-week low of $16.35 and a 52-week high of $29.00.
Perry Ellis International (NASDAQ:PERY) last released its quarterly earnings data on Thursday, August 24th. The textile maker reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.06. Perry Ellis International had a return on equity of 9.05% and a net margin of 2.08%. The company had revenue of $206.60 million for the quarter, compared to analyst estimates of $204.97 million. During the same period in the prior year, the company posted $0.15 EPS. The company’s revenue was up 2.5% compared to the same quarter last year. Analysts predict that Perry Ellis International will post $2.15 EPS for the current year.
In related news, insider Stanley P. Silverstein sold 13,507 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $22.11, for a total transaction of $298,639.77. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 20.20% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its position in Perry Ellis International by 62.6% in the 1st quarter. JPMorgan Chase & Co. now owns 398,800 shares of the textile maker’s stock valued at $8,566,000 after buying an additional 153,525 shares during the last quarter. Vanguard Group Inc. boosted its position in Perry Ellis International by 12.8% in the 1st quarter. Vanguard Group Inc. now owns 664,127 shares of the textile maker’s stock valued at $14,266,000 after buying an additional 75,397 shares during the last quarter. Prudential Financial Inc. boosted its position in Perry Ellis International by 169.3% in the 1st quarter. Prudential Financial Inc. now owns 116,685 shares of the textile maker’s stock valued at $2,506,000 after buying an additional 73,360 shares during the last quarter. ClariVest Asset Management LLC boosted its position in Perry Ellis International by 19.4% in the 2nd quarter. ClariVest Asset Management LLC now owns 264,941 shares of the textile maker’s stock valued at $5,156,000 after buying an additional 43,000 shares during the last quarter. Finally, Nordea Investment Management AB boosted its position in Perry Ellis International by 28.5% in the 1st quarter. Nordea Investment Management AB now owns 185,900 shares of the textile maker’s stock valued at $3,993,000 after buying an additional 41,200 shares during the last quarter. Institutional investors and hedge funds own 70.95% of the company’s stock.
About Perry Ellis International
Perry Ellis International, Inc is an apparel company. The Company designs, sources, markets and licenses its products nationally and internationally at multiple price points and across all levels of retail distribution. It operates through four segments: Men’s Sportswear and Swim, Women’s Sportswear, Direct-to-Consumer and Licensing.
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