Benchmark Co. Lowers Price Target on The Warnaco Group (WRC)
Analysts at Benchmark Co. decreased their price target on shares of The Warnaco Group (NYSE: WRC) from $60.00 to $55.00 in a research report issued to clients and investors on Friday. The firm currently has a “hold” rating on the stock.
Other equities research analysts have also recently issued reports about the stock. Analysts at Cowen downgraded shares of The Warnaco Group from an “outperform” rating to a “neutral” rating in a research note to investors on Friday. Separately, analysts at Zacks reiterated a “neutral” rating on shares of The Warnaco Group in a research note to investors on Wednesday, March 14th. They now have a $62.00 price target on the stock. Finally, analysts at Morgan Stanley (NYSE: MS) downgraded shares of The Warnaco Group from a “hold” rating to an “equal weight” rating in a research note to investors on Friday, February 24th.
Shares of The Warnaco Group traded down 0.04% during mid-day trading on Friday, hitting $47.92. The Warnaco Group has a 52 week low of $40.08 and a 52 week high of $64.97. The company has a market cap of $1.942 billion and a P/E ratio of 17.33.
The Warnaco Group last announced its earnings results on Thursday, May 3rd. The company reported $0.90 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.96 by $0.06. The company’s quarterly revenue was down 7.1% on a year-over-year basis. On average, analysts predict that The Warnaco Group will post $1.29 earnings per share next quarter.
The Warnaco Group, Inc. (Warnaco Group) designs, sources, markets, licenses and distributes a line of intimate apparel, sportswear and swimwear worldwide.