PVH Corp. (PVH) Lifted to Buy at Zacks Investment Research
PVH Corp. (NYSE:PVH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The brokerage presently has a $135.00 price target on the textile maker’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 12.46% from the company’s previous close.
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.”
Other equities analysts have also issued reports about the stock. ValuEngine raised shares of PVH Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. UBS AG reaffirmed a “buy” rating and issued a $128.00 price objective (up from $120.00) on shares of PVH Corp. in a research report on Monday, June 26th. Piper Jaffray Companies set a $120.00 price objective on shares of PVH Corp. and gave the company a “buy” rating in a research report on Thursday, May 25th. B. Riley reaffirmed a “buy” rating and issued a $128.00 price objective on shares of PVH Corp. in a research report on Tuesday, May 30th. Finally, Citigroup Inc. increased their price objective on shares of PVH Corp. from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, May 30th. Three research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $128.37.
Shares of PVH Corp. (PVH) opened at 120.04 on Thursday. The company has a market capitalization of $9.34 billion, a P/E ratio of 24.82 and a beta of 0.51. PVH Corp. has a 12 month low of $84.53 and a 12 month high of $126.11. The firm has a 50-day moving average of $118.34 and a 200-day moving average of $104.49. PVH Corp. also was the recipient of some unusual options trading activity on Wednesday. Investors bought 13,612 put options on the stock. This is an increase of 1,016% compared to the average daily volume of 1,220 put options.
PVH Corp. (NYSE:PVH) last announced its quarterly earnings data on Wednesday, August 23rd. The textile maker reported $1.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.65 by $0.04. The firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.02 billion. PVH Corp. had a net margin of 4.69% and a return on equity of 11.57%. PVH Corp.’s revenue was up 7.1% on a year-over-year basis. During the same period last year, the firm posted $1.47 EPS. On average, equities analysts predict that PVH Corp. will post $7.54 earnings per share for the current year.
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In related news, SVP Dana Perlman sold 769 shares of PVH Corp. stock in a transaction on Friday, June 30th. The shares were sold at an average price of $114.77, for a total value of $88,258.13. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Michael A. Shaffer sold 45,525 shares of PVH Corp. stock in a transaction on Thursday, July 6th. The shares were sold at an average price of $111.37, for a total transaction of $5,070,119.25. The disclosure for this sale can be found here. Insiders have sold a total of 59,627 shares of company stock worth $6,584,743 in the last ninety days. Corporate insiders own 1.50% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in PVH. Bank of Montreal Can boosted its stake in PVH Corp. by 109.3% in the first quarter. Bank of Montreal Can now owns 56,385 shares of the textile maker’s stock worth $5,835,000 after buying an additional 29,449 shares in the last quarter. Retirement Systems of Alabama boosted its stake in PVH Corp. by 2.0% in the first quarter. Retirement Systems of Alabama now owns 38,315 shares of the textile maker’s stock worth $3,964,000 after buying an additional 744 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its stake in PVH Corp. by 6.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,174 shares of the textile maker’s stock worth $210,000 after buying an additional 125 shares in the last quarter. Glen Harbor Capital Management LLC boosted its stake in PVH Corp. by 515.5% in the first quarter. Glen Harbor Capital Management LLC now owns 54,628 shares of the textile maker’s stock worth $5,652,000 after buying an additional 45,752 shares in the last quarter. Finally, Clear Harbor Asset Management LLC bought a new stake in PVH Corp. during the first quarter worth about $442,000. 98.12% of the stock is currently owned by hedge funds and other institutional investors.
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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