PVH (PVH) Reaches New 12-Month Low Following Analyst Downgrade

PVH Corp (NYSE:PVH) hit a new 52-week low during trading on Tuesday after Buckingham Research lowered their price target on the stock from $176.00 to $157.00. Buckingham Research currently has a buy rating on the stock. PVH traded as low as $106.23 and last traded at $107.29, with a volume of 1360775 shares trading hands. The stock had previously closed at $114.25.

Several other research firms have also weighed in on PVH. Bank of America set a $180.00 price objective on shares of PVH and gave the company a “buy” rating in a research note on Thursday, August 30th. ValuEngine lowered shares of PVH from a “hold” rating to a “sell” rating in a research note on Thursday, October 11th. Barclays set a $178.00 price objective on shares of PVH and gave the company a “buy” rating in a research note on Thursday, October 18th. Zacks Investment Research upgraded shares of PVH from a “hold” rating to a “buy” rating and set a $166.00 price objective on the stock in a research note on Friday, August 17th. Finally, CL King upgraded shares of PVH from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 30th. Six equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. PVH presently has a consensus rating of “Buy” and an average target price of $154.10.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Carnegie Capital Asset Management LLC acquired a new position in shares of PVH during the 3rd quarter worth $261,000. Vanguard Group Inc. increased its stake in shares of PVH by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 7,930,508 shares of the textile maker’s stock worth $1,145,165,000 after purchasing an additional 88,970 shares during the last quarter. Morgan Stanley increased its stake in shares of PVH by 2.6% during the 3rd quarter. Morgan Stanley now owns 185,529 shares of the textile maker’s stock worth $26,791,000 after purchasing an additional 4,673 shares during the last quarter. Legal & General Group Plc increased its stake in shares of PVH by 9.4% during the 3rd quarter. Legal & General Group Plc now owns 442,995 shares of the textile maker’s stock worth $63,957,000 after purchasing an additional 38,021 shares during the last quarter. Finally, Standard Life Aberdeen plc increased its stake in shares of PVH by 3.2% during the 3rd quarter. Standard Life Aberdeen plc now owns 142,456 shares of the textile maker’s stock worth $20,571,000 after purchasing an additional 4,408 shares during the last quarter. Institutional investors own 95.35% of the company’s stock.

The company has a market capitalization of $8.48 billion, a P/E ratio of 13.51, a price-to-earnings-growth ratio of 0.97 and a beta of 0.88. The company has a current ratio of 1.74, a quick ratio of 0.85 and a debt-to-equity ratio of 0.51.

PVH (NYSE:PVH) last posted its quarterly earnings data on Thursday, November 29th. The textile maker reported $3.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.14 by $0.07. The business had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.53 billion. PVH had a net margin of 7.20% and a return on equity of 13.00%. PVH’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.02 EPS. On average, equities research analysts forecast that PVH Corp will post 9.35 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Wednesday, November 28th will be issued a dividend of $0.0375 per share. This represents a $0.15 annualized dividend and a dividend yield of 0.14%. The ex-dividend date of this dividend is Tuesday, November 27th. PVH’s dividend payout ratio is currently 1.89%.

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PVH Company Profile (NYSE:PVH)

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, eyewear and fragrances, cosmetics, skincare products and toiletries, socks and tights, jewelry, watches, outerwear, small leather goods, and furnishings, as well as other related products.

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