Zacks Investment Research cut shares of PVH (NYSE:PVH) from a buy rating to a hold rating in a research note released on Monday, Zacks.com reports. They currently have $106.00 target price on the textile maker’s stock.
According to Zacks, “Shares of PVH Corp outperformed the industry in the past three months. Recently, the company agreed to sell its Speedo North America business licenses to Pentland Group for $170 million in cash, after working capital adjustments. As a result, management revised its earnings view for the fourth quarter and fiscal 2019, which are now envisioned at the high end of the earlier guided range. Moreover, impressive growth in the Tommy Hilfiger and Calvin Klein brands is aiding the company's top line. Tommy Hilfiger’s momentum is expected to continue throughout fiscal 2019, backed by stellar performance in Europe and gains from buyouts. However, softness at Heritage Brands owing to a challenging retail landscape is likely to persist. Moreover, concerns related to tariffs, currency, competitive and promotional environment cannot be ignored.”
Other analysts have also issued research reports about the company. ValuEngine upgraded PVH from a sell rating to a hold rating in a report on Friday, January 10th. Piper Jaffray Companies boosted their price target on PVH from $82.00 to $101.00 and gave the company an overweight rating in a report on Tuesday, September 17th. Telsey Advisory Group boosted their price target on PVH from $100.00 to $115.00 and gave the company an outperform rating in a report on Wednesday, November 27th. Royal Bank of Canada reissued a buy rating and issued a $115.00 price objective on shares of PVH in a research note on Thursday, January 9th. Finally, Bank of America boosted their price objective on shares of PVH from $93.00 to $111.00 and gave the stock a buy rating in a research note on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $106.26.
Shares of NYSE PVH opened at $98.74 on Monday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.71 and a current ratio of 1.40. The firm has a market capitalization of $7.29 billion, a price-to-earnings ratio of 10.29, a PEG ratio of 1.06 and a beta of 1.51. The stock has a 50 day moving average price of $102.45 and a 200 day moving average price of $90.65. PVH has a 52-week low of $67.41 and a 52-week high of $134.24.
PVH (NYSE:PVH) last announced its quarterly earnings results on Monday, November 25th. The textile maker reported $3.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.99 by $0.11. The firm had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.54 billion. PVH had a return on equity of 12.17% and a net margin of 6.57%. PVH’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.21 earnings per share. Analysts forecast that PVH will post 9.47 earnings per share for the current year.
The firm also recently declared a dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, November 27th were given a dividend of $0.0375 per share. The ex-dividend date was Tuesday, November 26th. PVH’s payout ratio is presently 1.56%.
Several hedge funds have recently modified their holdings of PVH. Pacer Advisors Inc. increased its position in shares of PVH by 9.5% during the second quarter. Pacer Advisors Inc. now owns 7,327 shares of the textile maker’s stock worth $693,000 after purchasing an additional 637 shares in the last quarter. Natixis Advisors L.P. increased its position in shares of PVH by 16.5% during the second quarter. Natixis Advisors L.P. now owns 18,611 shares of the textile maker’s stock worth $1,762,000 after purchasing an additional 2,630 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of PVH by 167.1% during the second quarter. Canada Pension Plan Investment Board now owns 45,709 shares of the textile maker’s stock worth $4,326,000 after purchasing an additional 28,599 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its position in shares of PVH by 29.8% during the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 10,514 shares of the textile maker’s stock worth $995,000 after purchasing an additional 2,414 shares in the last quarter. Finally, APG Asset Management N.V. increased its position in shares of PVH by 4.3% during the second quarter. APG Asset Management N.V. now owns 130,787 shares of the textile maker’s stock worth $10,869,000 after purchasing an additional 5,400 shares in the last quarter. 98.10% of the stock is currently owned by institutional investors and hedge funds.
PVH Corp. operates as an apparel company in North America and internationally. The company operates through six segments: Calvin Klein North America, Calvin Klein International, Tommy Hilfiger North America, Tommy Hilfiger International, Heritage Brands Wholesale, and Heritage Brands Retail. It designs, markets, and retails men's and women's apparel and accessories, including branded dress shirts, dresses, suits, neckwear, sportswear, jeans wear, performance and intimate apparel, underwear, swimwear, swim products, handbags, luggage products, footwear, golf apparel, sleepwear and loungewear, fragrances, cosmetics, skincare products and toiletries, socks and tights, jewelry, watches, outerwear, small leather goods, and furnishings, as well as other related products.
Further Reading: How Investors Can Profit from Options Trading
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for PVH Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PVH and related companies with MarketBeat.com's FREE daily email newsletter.