Revolve Group (NYSE:RVLV) Hits New 12-Month High – Time to Buy?

Shares of Revolve Group, Inc. (NYSE:RVLV) hit a new 52-week high during trading on Thursday . The company traded as high as $35.22 and last traded at $35.00, with a volume of 412762 shares trading hands. The stock had previously closed at $33.78.

Analysts Set New Price Targets

RVLV has been the topic of a number of analyst reports. Barclays raised shares of Revolve Group from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $17.00 to $25.00 in a report on Wednesday, November 6th. Roth Mkm reaffirmed a “buy” rating and set a $35.00 target price (up previously from $29.00) on shares of Revolve Group in a report on Wednesday, November 6th. Piper Sandler upped their target price on shares of Revolve Group from $30.00 to $35.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. UBS Group upped their target price on shares of Revolve Group from $25.00 to $30.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $26.00 target price (up previously from $17.00) on shares of Revolve Group in a report on Monday, October 21st. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Revolve Group has a consensus rating of “Hold” and an average target price of $26.19.

Revolve Group Stock Performance

The company has a market cap of $2.48 billion, a PE ratio of 62.48, a PEG ratio of 2.20 and a beta of 2.05. The stock’s 50 day moving average price is $27.30 and its 200-day moving average price is $22.22.

Revolve Group (NYSE:RVLV) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.05. Revolve Group had a net margin of 3.72% and a return on equity of 10.17%. The company had revenue of $283.15 million during the quarter, compared to analysts’ expectations of $271.08 million. During the same quarter in the prior year, the company earned $0.04 EPS. The firm’s revenue was up 9.9% on a year-over-year basis. On average, analysts anticipate that Revolve Group, Inc. will post 0.6 EPS for the current year.

Insider Activity

In other Revolve Group news, major shareholder Mmmk Development, Inc. sold 6,493 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $25.92, for a total transaction of $168,298.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Mente sold 48,346 shares of the stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $26.32, for a total transaction of $1,272,466.72. Following the sale, the chief executive officer now directly owns 73,000 shares of the company’s stock, valued at $1,921,360. The trade was a 39.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 581,817 shares of company stock valued at $17,870,621. Corporate insiders own 46.56% of the company’s stock.

Institutional Investors Weigh In On Revolve Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its stake in shares of Revolve Group by 4.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 26,498 shares of the company’s stock valued at $561,000 after purchasing an additional 1,227 shares in the last quarter. Silvercrest Asset Management Group LLC increased its holdings in shares of Revolve Group by 55.7% during the first quarter. Silvercrest Asset Management Group LLC now owns 376,620 shares of the company’s stock valued at $7,973,000 after acquiring an additional 134,775 shares in the last quarter. Comerica Bank boosted its stake in Revolve Group by 12,630.9% in the 1st quarter. Comerica Bank now owns 179,888 shares of the company’s stock worth $3,808,000 after purchasing an additional 178,475 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in Revolve Group by 410.8% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 73,336 shares of the company’s stock valued at $1,167,000 after purchasing an additional 58,979 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Revolve Group by 8.0% in the second quarter. Bank of New York Mellon Corp now owns 163,495 shares of the company’s stock worth $2,601,000 after buying an additional 12,094 shares in the last quarter. 67.60% of the stock is owned by hedge funds and other institutional investors.

Revolve Group Company Profile

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.