Wedbush Downgrades Revolve Group (NYSE:RVLV) to Neutral

Revolve Group (NYSE:RVLV – Get Rating) was downgraded by research analysts at Wedbush from an “outperform” rating to a “neutral” rating in a report issued on Thursday, MarketBeat reports. They presently have a $23.00 price objective on the stock, down from their previous price objective of $59.00. Wedbush’s price target would indicate a potential downside of 15.90% from the stock’s current price.

Several other equities analysts also recently weighed in on the company. Piper Sandler dropped their price objective on Revolve Group from $42.00 to $34.00 and set an “overweight” rating for the company in a research note on Thursday. Bank of America downgraded Revolve Group from a “buy” rating to an “underperform” rating and set a $22.00 price objective for the company. in a research note on Tuesday, July 26th. Barclays dropped their price target on Revolve Group from $47.00 to $30.00 and set an “equal weight” rating for the company in a research report on Thursday. BMO Capital Markets dropped their price target on Revolve Group from $47.00 to $35.00 in a research report on Wednesday, May 4th. Finally, KeyCorp began coverage on Revolve Group in a research report on Wednesday, July 20th. They set an “overweight” rating and a $36.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $43.00.

Revolve Group Stock Performance

NYSE RVLV opened at $27.35 on Thursday. Revolve Group has a 1-year low of $24.10 and a 1-year high of $89.60. The company has a market capitalization of $2.00 billion, a P/E ratio of 24.20, a PEG ratio of 1.99 and a beta of 2.19. The business has a 50 day moving average price of $28.74 and a 200 day moving average price of $40.32. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.39 and a quick ratio of 1.57.

Revolve Group (NYSE:RVLV – Get Rating) last released its quarterly earnings data on Tuesday, May 3rd. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.05. Revolve Group had a return on equity of 27.07% and a net margin of 8.03%. The firm had revenue of $283.50 million during the quarter, compared to the consensus estimate of $256.78 million. During the same period last year, the business posted $0.30 EPS. Revolve Group’s quarterly revenue was up 58.5% on a year-over-year basis. Sell-side analysts expect that Revolve Group will post 1.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Revolve Group

A number of hedge funds and other institutional investors have recently made changes to their positions in RVLV. Marshall Wace LLP boosted its holdings in Revolve Group by 258.8% in the fourth quarter. Marshall Wace LLP now owns 1,330,838 shares of the company’s stock valued at $74,578,000 after acquiring an additional 959,875 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Revolve Group by 1,016.7% in the fourth quarter. Fisher Asset Management LLC now owns 891,657 shares of the company’s stock valued at $49,968,000 after acquiring an additional 811,812 shares during the last quarter. William Blair Investment Management LLC boosted its holdings in Revolve Group by 14.0% in the first quarter. William Blair Investment Management LLC now owns 4,267,736 shares of the company’s stock valued at $229,135,000 after acquiring an additional 522,770 shares during the last quarter. Congress Asset Management Co. MA acquired a new position in Revolve Group in the second quarter valued at $10,502,000. Finally, Ardmore Road Asset Management LP acquired a new position in Revolve Group in the fourth quarter valued at $21,575,000. Hedge funds and other institutional investors own 54.50% of the company’s stock.

Revolve Group Company Profile

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