KeyCorp Upgrades Revolve Group (NYSE:RVLV) to “Overweight”

Revolve Group (NYSE:RVLV) was upgraded by KeyCorp from a “sector weight” rating to an “overweight” rating in a report released on Thursday, MarketBeat Ratings reports. The brokerage currently has a $37.00 target price on the stock. KeyCorp’s price target points to a potential upside of 18.28% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Piper Sandler upped their target price on Revolve Group from $30.00 to $35.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. TD Cowen upped their target price on Revolve Group from $28.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Roth Mkm reiterated a “buy” rating and issued a $35.00 target price (up from $29.00) on shares of Revolve Group in a research note on Wednesday, November 6th. Morgan Stanley reiterated an “equal weight” rating and issued a $26.00 target price (up from $17.00) on shares of Revolve Group in a research note on Monday, October 21st. Finally, Evercore ISI upped their target price on Revolve Group from $21.00 to $33.00 and gave the company an “in-line” rating in a research note on Wednesday, November 6th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.60.

Revolve Group Stock Up 0.9 %

NYSE RVLV opened at $31.28 on Thursday. Revolve Group has a fifty-two week low of $14.04 and a fifty-two week high of $39.58. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 55.86, a price-to-earnings-growth ratio of 1.57 and a beta of 2.18. The business has a fifty day moving average of $33.85 and a 200-day moving average of $26.92.

Revolve Group (NYSE:RVLV) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.05. Revolve Group had a return on equity of 10.17% and a net margin of 3.72%. The company had revenue of $283.15 million during the quarter, compared to analysts’ expectations of $271.08 million. During the same period in the previous year, the firm posted $0.04 earnings per share. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. As a group, analysts anticipate that Revolve Group will post 0.6 EPS for the current year.

Insider Transactions at Revolve Group

In other news, CEO Michael Mente sold 20,373 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $25.95, for a total value of $528,679.35. Following the completion of the sale, the chief executive officer now owns 73,000 shares of the company’s stock, valued at $1,894,350. This represents a 21.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jesse Timmermans sold 91,625 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $30.72, for a total value of $2,814,720.00. Following the completion of the transaction, the chief financial officer now owns 3,054 shares in the company, valued at approximately $93,818.88. This trade represents a 96.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 900,807 shares of company stock valued at $29,507,102 over the last quarter. Company insiders own 46.56% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RVLV. Farther Finance Advisors LLC lifted its stake in shares of Revolve Group by 249.7% in the third quarter. Farther Finance Advisors LLC now owns 1,126 shares of the company’s stock worth $28,000 after acquiring an additional 804 shares in the last quarter. Sugar Maple Asset Management LLC acquired a new position in shares of Revolve Group in the fourth quarter worth about $50,000. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Revolve Group by 91.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,069 shares of the company’s stock worth $65,000 after acquiring an additional 1,940 shares in the last quarter. Quarry LP acquired a new stake in Revolve Group during the second quarter valued at approximately $68,000. Finally, American Century Companies Inc. acquired a new stake in Revolve Group during the second quarter valued at approximately $165,000. Institutional investors and hedge funds own 67.60% of the company’s stock.

About Revolve Group

Revolve Group, Inc operates as an online fashion retailer for millennial and generation z 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.