Bank of America Lowers PVH (NYSE:PVH) Price Target to $122.00

PVH (NYSE:PVHGet Free Report) had its price objective cut by analysts at Bank of America from $156.00 to $122.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the textile maker’s stock. Bank of America‘s target price points to a potential upside of 12.26% from the company’s previous close.

A number of other brokerages have also commented on PVH. TD Cowen increased their price target on PVH from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. Guggenheim increased their price target on PVH from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday. Morgan Stanley dropped their price target on PVH from $134.00 to $110.00 and set an “equal weight” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. dropped their price target on PVH from $165.00 to $146.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, Wells Fargo & Company dropped their price target on PVH from $150.00 to $138.00 and set an “overweight” rating for the company in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, PVH has an average rating of “Moderate Buy” and a consensus price target of $121.53.

View Our Latest Research Report on PVH

PVH Stock Down 22.2 %

PVH stock opened at $108.68 on Wednesday. The stock has a market cap of $6.48 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 0.74 and a beta of 2.20. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.66 and a current ratio of 1.18. PVH has a one year low of $69.27 and a one year high of $141.15. The stock has a fifty day moving average of $130.67 and a 200 day moving average of $106.87.

PVH (NYSE:PVHGet Free Report) last issued its quarterly earnings results on Tuesday, April 2nd. The textile maker reported $3.72 EPS for the quarter, topping analysts’ consensus estimates of $3.51 by $0.21. The business had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.42 billion. PVH had a return on equity of 12.99% and a net margin of 7.20%. The business’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.38 earnings per share. As a group, sell-side analysts predict that PVH will post 11.95 EPS for the current year.

PVH announced that its Board of Directors has authorized a stock repurchase program on Monday, April 1st that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the textile maker to repurchase up to 24% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Insider Transactions at PVH

In other news, EVP Mark D. Fischer sold 3,500 shares of the stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $123.00, for a total value of $430,500.00. Following the sale, the executive vice president now directly owns 27,903 shares in the company, valued at $3,432,069. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.78% of the company’s stock.

Institutional Investors Weigh In On PVH

Hedge funds and other institutional investors have recently modified their holdings of the business. Lindbrook Capital LLC increased its holdings in PVH by 26.8% during the 4th quarter. Lindbrook Capital LLC now owns 521 shares of the textile maker’s stock worth $64,000 after purchasing an additional 110 shares during the period. Nomura Asset Management Co. Ltd. increased its holdings in PVH by 15.7% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 810 shares of the textile maker’s stock worth $99,000 after purchasing an additional 110 shares during the period. Quadrant Capital Group LLC increased its holdings in PVH by 12.5% during the 4th quarter. Quadrant Capital Group LLC now owns 1,036 shares of the textile maker’s stock worth $127,000 after purchasing an additional 115 shares during the period. Creative Planning increased its holdings in PVH by 2.6% during the 3rd quarter. Creative Planning now owns 5,074 shares of the textile maker’s stock worth $388,000 after purchasing an additional 128 shares during the period. Finally, Treasurer of the State of North Carolina increased its holdings in PVH by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 27,389 shares of the textile maker’s stock worth $2,096,000 after purchasing an additional 140 shares during the period. 97.25% of the stock is currently owned by hedge funds and other institutional investors.

PVH Company Profile

(Get Free Report)

PVH Corp. operates as an apparel company in the United States and internationally. The company operates through six segments: Tommy Hilfiger North America, Tommy Hilfiger International, Calvin Klein North America, Calvin Klein International, Heritage Brands Wholesale, and Heritage Brands Retail. It designs, markets, and retails men's, women's, and children's apparel and accessories, include branded dress shirts, neckwear, sportswear, jeans wear, performance apparel, intimate apparel, underwear, swimwear, swim-related products, handbags, accessories, footwear, outerwear, home furnishings, luggage products, sleepwear, loungewear, hats, scarves, gloves, socks, watches and jewelry, eyeglasses and non-ophthalmic sunglasses, fragrance, home bed and bath furnishings, small leather goods, and other products.

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Analyst Recommendations for PVH (NYSE:PVH)

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