PVH Corp. (PVH) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of PVH Corp. (NYSE:PVH) from a hold rating to a buy rating in a report published on Thursday. The firm currently has $117.00 target price on the textile maker’s stock.
According to Zacks, “PVH Corp. has outperformed the broader industry year to date. The company has been doing well on the back of superb earnings history, and strength of its Calvin Klein and Tommy Hilfiger brands. The company's diversified portfolio allows it to stay ahead of its peers, generate above-average industry growth and sustain its position in the current challenging environment. PVH’s approach to brand management facilitates each of its brands to develop further through efficient marketing strategies, financial control and operating leverage. Further, focus on omnichannel development and higher-margin businesses through buyouts bode well. The company’s raised fiscal 2017 view reflects confidence in its investments in brands and global platforms. However, management expects currency woes, along with a volatile retail scenario to remain deterrents in fiscal 2017. Estimates have been going up lately ahead of the second quarter earnings.”
A number of other equities research analysts have also recently issued reports on the company. Credit Suisse Group cut their target price on PVH Corp. to $114.00 in a research note on Thursday, March 23rd. Piper Jaffray Companies set a $120.00 target price on PVH Corp. and gave the company a buy rating in a research note on Thursday, May 25th. B. Riley reiterated a buy rating and issued a $125.00 target price on shares of PVH Corp. in a research note on Sunday, April 9th. Wunderlich reiterated a buy rating and issued a $125.00 target price on shares of PVH Corp. in a research note on Saturday, March 25th. Finally, Citigroup Inc. upgraded PVH Corp. from a neutral rating to a buy rating and set a $115.00 target price on the stock in a research note on Friday, March 24th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. PVH Corp. presently has a consensus rating of Buy and a consensus price target of $122.06.
PVH Corp. (PVH) traded up 0.15% during mid-day trading on Thursday, reaching $112.50. 164,284 shares of the company traded hands. The stock has a market capitalization of $8.76 billion, a PE ratio of 23.26 and a beta of 0.47. PVH Corp. has a 52-week low of $83.80 and a 52-week high of $115.40. The firm’s 50-day moving average is $103.30 and its 200 day moving average is $97.25.
PVH Corp. (NYSE:PVH) last released its quarterly earnings data on Wednesday, May 24th. The textile maker reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.05. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.96 billion. PVH Corp. had a net margin of 4.69% and a return on equity of 11.57%. The firm’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.50 earnings per share. On average, equities research analysts expect that PVH Corp. will post $7.50 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 20th. Investors of record on Thursday, May 18th were paid a dividend of $0.038 per share. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date of this dividend was Tuesday, May 16th. PVH Corp.’s dividend payout ratio is currently 3.11%.
In related news, CEO Daniel Grieder sold 18,701 shares of PVH Corp. stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $103.43, for a total transaction of $1,934,244.43. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Mark D. Fischer sold 1,500 shares of PVH Corp. stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $109.75, for a total transaction of $164,625.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,534 shares of company stock worth $3,188,110. Company insiders own 1.50% of the company’s stock.
Large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in shares of PVH Corp. by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 934,420 shares of the textile maker’s stock valued at $84,328,000 after buying an additional 21,781 shares during the period. Aviva PLC boosted its stake in shares of PVH Corp. by 5.4% in the fourth quarter. Aviva PLC now owns 51,054 shares of the textile maker’s stock valued at $4,608,000 after buying an additional 2,602 shares during the period. Asset Management One Co. Ltd. boosted its stake in shares of PVH Corp. by 1,674.9% in the fourth quarter. Asset Management One Co. Ltd. now owns 138,091 shares of the textile maker’s stock valued at $12,468,000 after buying an additional 130,311 shares during the period. Allianz Asset Management AG acquired a new stake in shares of PVH Corp. during the fourth quarter valued at approximately $18,760,000. Finally, Employees Retirement System of Texas boosted its stake in shares of PVH Corp. by 54.5% in the fourth quarter. Employees Retirement System of Texas now owns 17,000 shares of the textile maker’s stock valued at $1,534,000 after buying an additional 6,000 shares during the period. Hedge funds and other institutional investors own 96.45% 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.