Zacks Investment Research upgraded shares of PVH (NYSE:PVH) from a hold rating to a buy rating in a report published on Thursday morning. They currently have $160.00 target price on the textile maker’s stock.
According to Zacks, “PVH Corp. has outperformed the industry in the past six months driven by its superb earnings history and brand strength. The company delivered robust earnings and sales results in third-quarter fiscal 2017. While this marked the company’s fifth straight sales beat, earnings topped estimates for the 14th consecutive quarter. Results continued to benefit from solid momentum at its premium Calvin Klein and Tommy Hilfiger brands. Further, the company provided a favorable view for the fourth quarter and raised earnings outlook for fiscal 2017. However, concerns regarding the volatile macroeconomic and geopolitical environment remain. While currency rates are expected to improve in the fourth quarter, it is likely to hurt fiscal 2017 earnings by 17 cents per share. Nonetheless, its efforts to keep pace with the evolving consumer trends, efficient brand management and healthy cash flows, bode well.”
Several other research analysts have also recently weighed in on PVH. B. Riley restated a buy rating on shares of PVH in a research note on Wednesday, November 1st. Piper Jaffray Companies restated a buy rating and issued a $148.00 price target on shares of PVH in a research note on Sunday, October 1st. Cowen set a $150.00 price target on PVH and gave the stock a buy rating in a research note on Monday, November 27th. Wells Fargo & Co set a $158.00 price target on PVH and gave the stock an outperform rating in a research note on Thursday, November 30th. Finally, Telsey Advisory Group boosted their price target on PVH from $145.00 to $158.00 and gave the stock an outperform rating in a research note on Thursday, November 30th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. PVH currently has a consensus rating of Buy and a consensus price target of $147.71.
PVH (PVH) traded up $2.37 during mid-day trading on Thursday, hitting $147.07. The stock had a trading volume of 568,732 shares, compared to its average volume of 535,493. PVH has a 52-week low of $84.53 and a 52-week high of $148.29. The company has a quick ratio of 0.97, a current ratio of 1.82 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $11,313.95, a PE ratio of 21.89, a P/E/G ratio of 1.45 and a beta of 0.61.
PVH (NYSE:PVH) last posted its quarterly earnings results on Wednesday, November 29th. The textile maker reported $3.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.91 by $0.11. PVH had a return on equity of 11.95% and a net margin of 6.22%. The firm had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.34 billion. During the same quarter in the previous year, the business earned $2.60 earnings per share. The company’s revenue was up 5.0% on a year-over-year basis. analysts expect that PVH will post 7.82 EPS for the current year.
In other PVH news, EVP Mark D. Fischer sold 891 shares of the company’s stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $147.34, for a total value of $131,279.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Emanuel Chirico sold 370,327 shares of the company’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $132.56, for a total value of $49,090,547.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 392,290 shares of company stock valued at $52,131,795. 1.30% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of PVH. YorkBridge Wealth Partners LLC purchased a new stake in PVH in the third quarter worth about $108,000. Advisor Partners LLC purchased a new stake in PVH in the third quarter worth about $206,000. Raymond James Trust N.A. purchased a new stake in PVH in the third quarter worth about $224,000. Smithfield Trust Co. increased its position in PVH by 576.8% in the third quarter. Smithfield Trust Co. now owns 1,841 shares of the textile maker’s stock worth $232,000 after buying an additional 1,569 shares in the last quarter. Finally, Courier Capital LLC purchased a new stake in PVH in the third quarter worth about $235,000. Institutional investors and hedge funds own 93.82% of the company’s stock.
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PVH Company Profile
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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