Citigroup Inc. Increases PVH Corp. (PVH) Price Target to $148.00
PVH Corp. (NYSE:PVH) had its price objective hoisted by equities researchers at Citigroup Inc. from $125.00 to $148.00 in a research report issued to clients and investors on Friday. The brokerage currently has a “neutral” rating on the textile maker’s stock. Citigroup Inc.’s price objective would indicate a potential upside of 16.61% from the company’s current price.
Other equities research analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of PVH Corp. from a “hold” rating to a “buy” rating and set a $113.00 price objective for the company in a research report on Tuesday, May 16th. 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 Wednesday, June 14th. B. Riley reissued a “buy” rating and set a $128.00 price objective on shares of PVH Corp. in a research report on Sunday, June 4th. UBS AG reissued a “buy” rating and set a $120.00 price objective (up previously from $116.00) on shares of PVH Corp. in a research report on Thursday, May 25th. Finally, ValuEngine raised shares of PVH Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $132.00.
PVH Corp. (PVH) traded down 1.27% during mid-day trading on Friday, reaching $125.31. The company had a trading volume of 286,092 shares. The stock has a market capitalization of $9.80 billion, a PE ratio of 23.90 and a beta of 0.51. The company’s 50-day moving average is $118.71 and its 200-day moving average is $104.65. PVH Corp. has a one year low of $84.53 and a one year high of $130.25. PVH Corp. also was the recipient of some unusual options trading activity on Wednesday. Stock investors purchased 13,612 put options on the company. This is an increase of approximately 1,016% compared to the average daily volume of 1,220 put options.
PVH Corp. (NYSE:PVH) last issued its quarterly earnings data on Wednesday, August 23rd. The textile maker reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.04. PVH Corp. had a net margin of 4.96% and a return on equity of 11.83%. The firm had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter in the previous year, the firm posted $1.47 EPS. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. Equities research analysts anticipate that PVH Corp. will post $7.66 earnings per share for the current year.
In other PVH Corp. news, SVP Dana Perlman sold 769 shares of the business’s 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP David F. Kozel sold 5,636 shares of the business’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $105.00, for a total transaction of $591,780.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 57,130 shares of company stock worth $6,320,086. Corporate insiders own 1.30% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of PVH Corp. by 1.4% in the first quarter. Vanguard Group Inc. now owns 7,942,535 shares of the textile maker’s stock valued at $821,815,000 after buying an additional 112,758 shares in the last quarter. BlackRock Inc. boosted its stake in shares of PVH Corp. by 3,001.8% in the first quarter. BlackRock Inc. now owns 5,090,455 shares of the textile maker’s stock valued at $526,711,000 after buying an additional 4,926,341 shares in the last quarter. State Street Corp boosted its stake in shares of PVH Corp. by 1.7% in the first quarter. State Street Corp now owns 3,672,807 shares of the textile maker’s stock valued at $380,025,000 after buying an additional 61,303 shares in the last quarter. FMR LLC boosted its stake in shares of PVH Corp. by 5.5% in the second quarter. FMR LLC now owns 3,587,739 shares of the textile maker’s stock valued at $410,796,000 after buying an additional 187,588 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of PVH Corp. by 0.4% in the second quarter. JPMorgan Chase & Co. now owns 3,219,010 shares of the textile maker’s stock valued at $368,576,000 after buying an additional 13,101 shares in the last quarter. Institutional investors and hedge funds own 98.12% 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.
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