Zacks: Brokerages Set $18.00 Target Price for Revlon Inc (REV)

Revlon Inc (NYSE:REV) has earned an average broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation.

Brokers have set a 12-month consensus price objective of $18.00 for the company and are forecasting that the company will post ($0.73) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Revlon an industry rank of 96 out of 255 based on the ratings given to related companies.

Several brokerages have recently issued reports on REV. Zacks Investment Research cut shares of Revlon from a “buy” rating to a “hold” rating in a research report on Friday, January 11th. ValuEngine cut shares of Revlon from a “buy” rating to a “hold” rating in a research report on Monday, April 1st. Finally, Jefferies Financial Group restated a “hold” rating on shares of Revlon in a research report on Tuesday, March 5th.

Revlon stock traded down $0.24 during mid-day trading on Wednesday, hitting $20.69. The stock had a trading volume of 300 shares, compared to its average volume of 232,039. The company has a market capitalization of $1.10 billion, a P/E ratio of -5.66 and a beta of 0.33. Revlon has a one year low of $14.00 and a one year high of $29.62.

Revlon (NYSE:REV) last released its quarterly earnings data on Monday, March 18th. The company reported ($0.86) EPS for the quarter, missing the consensus estimate of $0.15 by ($1.01). The business had revenue of $741.60 million for the quarter, compared to analyst estimates of $749.30 million. The firm’s quarterly revenue was down 5.7% on a year-over-year basis. As a group, analysts anticipate that Revlon will post -1.94 earnings per share for the current fiscal year.

In other news, Director Ronald O. Perelman acquired 355,000 shares of Revlon stock in a transaction that occurred on Thursday, March 21st. The shares were bought at an average cost of $19.90 per share, with a total value of $7,064,500.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ronald O. Perelman acquired 70,000 shares of Revlon stock in a transaction that occurred on Monday, April 1st. The stock was purchased at an average cost of $20.09 per share, for a total transaction of $1,406,300.00. The disclosure for this purchase can be found here. Insiders purchased a total of 510,000 shares of company stock worth $10,243,200 over the last three months. 85.00% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisory Services Network LLC bought a new position in shares of Revlon during the fourth quarter valued at approximately $131,000. Bank of America Corp DE boosted its stake in Revlon by 9.9% in the fourth quarter. Bank of America Corp DE now owns 5,494 shares of the company’s stock valued at $139,000 after acquiring an additional 493 shares in the last quarter. Advisor Group Inc. boosted its stake in Revlon by 152.7% in the fourth quarter. Advisor Group Inc. now owns 7,607 shares of the company’s stock valued at $192,000 after acquiring an additional 4,597 shares in the last quarter. State Board of Administration of Florida Retirement System purchased a new position in shares of Revlon in the fourth quarter worth $207,000. Finally, Ibex Investors LLC purchased a new position in shares of Revlon in the fourth quarter worth $228,000. Hedge funds and other institutional investors own 14.38% of the company’s stock.

About Revlon

Revlon, Inc, through its subsidiaries, develops, manufactures, markets, distributes, and sells beauty and personal care products worldwide. The company's Relvon segment offers color cosmetics and beauty tools under the Revlon brand; and hair color under the Revlon ColorSilk and Revlon Professional brands.

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