Revolve Group (NYSE:RVLV) Reaches New 1-Year Low Following Analyst Downgrade

Revolve Group (NYSE:RVLV)’s share price hit a new 52-week low during trading on Monday after Raymond James lowered their price target on the stock from $40.00 to $30.00. Raymond James currently has an outperform rating on the stock. Revolve Group traded as low as $15.99 and last traded at $16.42, with a volume of 6247 shares traded. The stock had previously closed at $16.33.

Several other analysts have also issued reports on the company. Jefferies Financial Group boosted their target price on Revolve Group from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Bank of America restated a “neutral” rating and issued a $33.00 target price (down from $36.00) on shares of Revolve Group in a research note on Friday, August 9th. Zacks Investment Research upgraded Revolve Group from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research note on Thursday, November 7th. Finally, Guggenheim restated a “buy” rating and issued a $50.00 target price on shares of Revolve Group in a research note on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $39.22.

Several institutional investors and hedge funds have recently modified their holdings of RVLV. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Revolve Group in the second quarter valued at $35,000. FNY Investment Advisers LLC purchased a new position in shares of Revolve Group in the second quarter valued at $118,000. Janus Henderson Group PLC purchased a new position in shares of Revolve Group in the second quarter valued at $345,000. Envestnet Asset Management Inc. purchased a new position in shares of Revolve Group in the second quarter valued at $336,000. Finally, CenterStar Asset Management LLC purchased a new position in shares of Revolve Group in the second quarter valued at $56,000. Hedge funds and other institutional investors own 20.40% of the company’s stock.

The company’s 50-day simple moving average is $21.51.

Revolve Group (NYSE:RVLV) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.01. The company had revenue of $154.20 million during the quarter, compared to analysts’ expectations of $153.13 million. Revolve Group’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.10 earnings per share. On average, equities analysts anticipate that Revolve Group will post 0.56 earnings per share for the current fiscal year.

Revolve Group Company Profile (NYSE:RVLV)

Revolve Group, Inc operates as an online fashion retailer for consumers in the United States and internationally. The company operates a platform that connects consumers and global fashion influencers, as well as emerging, established, and owned brands. It provides women's apparel, footwear, accessories, and beauty styles under a range of established and emerging brands, as well as owned brands.

Featured Story: What is the yield curve?

Receive News & Ratings for Revolve Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Revolve Group and related companies with MarketBeat.com's FREE daily email newsletter.