PVH Corp. (PVH) Upgraded by Zacks Investment Research to Buy
PVH Corp. (NYSE:PVH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The firm currently has a $143.00 price target on the textile maker’s stock. Zacks Investment Research‘s price objective points to a potential upside of 12.18% from the company’s current price.
According to Zacks, “PVH Corp. has outperformed the industry year to date driven by its superb earnings history and brand strength. The company posted better-than-expected earnings and sales results for second-quarter fiscal 2017. While sales marked its fourth consecutive beat, earnings retained its positive surprise trend for the 13th straight time. Results continued to gain from solid momentum at its Calvin Klein and Tommy Hilfiger brands, particularly in the international regions. Further, the company raised earnings outlook for fiscal 2017. However, concerns regarding the volatile macroeconomic and geopolitical environment remain. While currency rates improved in second quarter, currency headwinds are expected to hurt fiscal 2017 earnings by 20 cents per share. Apart from this, a volatile retail scenario and greater marketing costs may hurt performance. Nonetheless, the company’s efforts to keep pace with the evolving consumer trends bode well.”
Several other analysts also recently issued reports on PVH. UBS AG reissued a “buy” rating and issued a $128.00 price target (up previously from $120.00) on shares of PVH Corp. in a research note on Monday, June 26th. Sanford C. Bernstein began coverage on PVH Corp. in a research note on Tuesday, September 12th. They issued a “market perform” rating and a $142.00 price target on the stock. BidaskClub raised PVH Corp. from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 10th. Cowen and Company set a $140.00 price target on PVH Corp. and gave the company a “buy” rating in a research note on Friday, August 11th. Finally, B. Riley reissued a “buy” rating and issued a $128.00 price target on shares of PVH Corp. in a research note on Tuesday, May 30th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $138.35.
Shares of PVH Corp. (NYSE PVH) traded down 0.48% on Wednesday, reaching $126.86. The company’s stock had a trading volume of 391,718 shares. The company has a market cap of $9.82 billion, a P/E ratio of 24.19 and a beta of 0.46. The company has a 50 day moving average price of $124.86 and a 200 day moving average price of $109.49. PVH Corp. has a 52-week low of $84.53 and a 52-week high of $130.75.
PVH Corp. (NYSE:PVH) last issued its quarterly earnings data on Wednesday, August 23rd. The textile maker reported $1.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.65 by $0.04. The business had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.02 billion. PVH Corp. had a return on equity of 11.67% and a net margin of 4.96%. The firm’s revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.47 EPS. On average, analysts anticipate that PVH Corp. will post $7.71 earnings per share for the current fiscal year.
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In related news, EVP Mark D. Fischer sold 5,589 shares of PVH Corp. stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $128.47, for a total transaction of $718,018.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Francis K. Duane sold 24,000 shares of PVH Corp. stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $126.86, for a total value of $3,044,640.00. The disclosure for this sale can be found here. Insiders have sold 87,750 shares of company stock valued at $10,368,221 in the last quarter. 1.50% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the stock. Advisors Asset Management Inc. grew its holdings in PVH Corp. by 28.2% during the second quarter. Advisors Asset Management Inc. now owns 927 shares of the textile maker’s stock worth $106,000 after purchasing an additional 204 shares during the period. FNY Partners Fund LP grew its holdings in PVH Corp. by 53.3% during the first quarter. FNY Partners Fund LP now owns 1,150 shares of the textile maker’s stock worth $118,000 after purchasing an additional 400 shares during the period. Fiduciary Trust Co. bought a new position in PVH Corp. during the second quarter worth about $138,000. NINE MASTS CAPITAL Ltd bought a new position in PVH Corp. during the first quarter worth about $155,000. Finally, Rational Advisors LLC bought a new position in PVH Corp. during the second quarter worth about $183,000. Institutional investors and hedge funds own 95.32% of the company’s stock.
About PVH Corp.
PVH Corp. is an apparel company. The Company operates through three segments: Calvin Klein, which consists of the Calvin Klein North America and Calvin Klein International segments; Tommy Hilfiger, which consists of the Tommy Hilfiger North America and Tommy Hilfiger International segments, and Heritage Brands, which consists of the Heritage Brands Wholesale and Heritage Brands Retail segments.
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