KeyBanc Downgrades Perry Ellis (PERY) to Hold
Get Alerts PERY Hot Sheet
Rating Summary:
6 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 10 | New: 13
Join SI Premium – FREE
KeyBanc downgraded Perry Ellis (NASDAQ: PERY) from Buy to Hold and removed its price target (prior $20.00). After achieving his price target, analyst Edward Yruma thinks valuation looks fair.
"The 2Q marks the second quarter of better-than-expected earnings, due in large part to greater operational discipline and focus. The stock is up 28.3% since January 1 (vs. 7.8% for the S&P 500), due in large part to the stabilized results. We continue to expect further gross margin improvement (the 2Q was up +224 bps year-over-year) as the Company continues to realign resources on areas of strength (Perry, OPG, Golf), as well as further SG&A discipline," said Yruma. "We continue to have a fairly circumspect view on overall apparel demand within the middle-income consumer (cautious commentary from Macy's, Stage, Kohl’s and Target, among others). PERY looks a little full at 19.1x 2015E P/E and 8.2x 2015E EV/EBITDA, but less so on 0.4x EV/sales. As such, on balance, we think valuation looks fair, but remain optimistic from an operational perspective."
For an analyst ratings summary and ratings history on Perry Ellis click here. For more ratings news on Perry Ellis click here.
Shares of Perry Ellis closed at $20.25 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Northwest Bancshares, Inc. (NWBI) PT Lowered to $10 at Piper Sandler
- LivePerson (LPSN) PT Lowered to $1 at Loop Capital
- Morgan Stanley Double Downgrades AU Optronics (2409:TT) (AUO) to Underweight
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS View, DowngradesRelated Entities
KeyBanc, Standard & Poor's, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!