PVH Corp. (PVH) Upgraded to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of PVH Corp. (NYSE:PVH) from a hold rating to a buy rating in a research report released on Thursday morning. The firm currently has $121.00 target price on the stock.
According to Zacks, “Owner of premium Calvin Klein and Tommy Hilfiger brands – PVH’s diversified portfolio allows the company to stay ahead of its peers, to generate above-average industry growth and sustain its position in the current challenging environment. The company’s approach to brand management facilitates each of its brands to develop further through efficient marketing strategies, financial control and operating leverage. Further, the company’s focus on higher-margin businesses through acquisitions and divestments bode well. However, what remains a concern is PVH’s significant global presence, which exposes it to foreign currency risks. Alongside, the company expects volatility in the overall retail environment, intense promotions and unpredictable global consumer spending to remain hurdles. Nonetheless, estimates have been rising lately, ahead of the company’s third-quarter earnings.”
A number of other equities research analysts have also issued reports on the stock. Piper Jaffray Cos. set a $124.00 price target on shares of PVH Corp. and gave the stock a buy rating in a report on Friday, October 7th. Guggenheim began coverage on shares of PVH Corp. in a report on Friday, September 30th. They issued a buy rating and a $125.00 price target on the stock. Brean Capital reissued a buy rating on shares of PVH Corp. in a report on Thursday, September 22nd. Wells Fargo & Co. began coverage on shares of PVH Corp. in a report on Monday, September 12th. They issued an outperform rating and a $126.00 price target on the stock. They noted that the move was a valuation call. Finally, Buckingham Research raised their price target on shares of PVH Corp. from $118.00 to $128.00 and gave the stock a buy rating in a report on Friday, August 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $112.83.
Shares of PVH Corp. (NYSE:PVH) traded down 1.26% during trading on Thursday, hitting $108.74. 102,077 shares of the stock traded hands. The company has a 50 day moving average price of $109.07 and a 200 day moving average price of $101.63. PVH Corp. has a 12 month low of $64.16 and a 12 month high of $115.40. The firm has a market cap of $8.72 billion, a price-to-earnings ratio of 13.17 and a beta of 0.77.
PVH Corp. (NYSE:PVH) last released its earnings results on Wednesday, August 24th. The company reported $1.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.18. PVH Corp. had a net margin of 8.34% and a return on equity of 12.55%. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the firm earned $1.37 EPS. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. Analysts anticipate that PVH Corp. will post $6.66 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 19th. Shareholders of record on Wednesday, November 23rd will be paid a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date of this dividend is Monday, November 21st. PVH Corp.’s dividend payout ratio is currently 1.82%.
In related news, EVP Mark D. Fischer sold 1,000 shares of the company’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $112.50, for a total transaction of $112,500.00. Following the transaction, the executive vice president now owns 16,732 shares of the company’s stock, valued at $1,882,350. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David F. Kozel sold 3,000 shares of the company’s stock in a transaction on Wednesday, October 12th. The stock was sold at an average price of $111.96, for a total value of $335,880.00. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Sei Investments Co. raised its stake in PVH Corp. by 18.1% in the second quarter. Sei Investments Co. now owns 1,169 shares of the company’s stock valued at $110,000 after buying an additional 179 shares during the period. Advisors Asset Management Inc. increased its stake in shares of PVH Corp. by 172.0% in the third quarter. Advisors Asset Management Inc. now owns 1,088 shares of the company’s stock valued at $120,000 after buying an additional 688 shares in the last quarter. Acrospire Investment Management LLC increased its stake in shares of PVH Corp. by 30.0% in the second quarter. Acrospire Investment Management LLC now owns 1,300 shares of the company’s stock valued at $122,000 after buying an additional 300 shares in the last quarter. TLP Group LLC bought a new stake in shares of PVH Corp. during the third quarter valued at about $137,000. Finally, Societe Generale bought a new stake in shares of PVH Corp. during the second quarter valued at about $145,000. 95.55% of the stock is currently owned by hedge funds and other institutional investors.
PVH Corp. Company Profile
PVH Corp. is an apparel company. The Company’s segments include Calvin Klein North America; Calvin Klein International; Tommy Hilfiger North America; Tommy Hilfiger International; Heritage Brands Wholesale, and Heritage Brands Retail. The Company’s brand portfolio consists of various brand names, including Calvin Klein, Tommy Hilfiger, Van Heusen, IZOD, ARROW, Warner’s, Olga and Eagle, which are owned, and Speedo, Geoffrey Beene, Kenneth Cole New York, Kenneth Cole Reaction, Sean John, MICHAEL Michael Kors, Michael Kors Collection and Chaps, which are licensed, as well as various other licensed and private label brands.
Receive News & Stock Ratings for PVH Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PVH Corp. and related stocks with our FREE daily email newsletter.