PVH (NYSE:PVH) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of PVH (NYSE:PVH) from a hold rating to a strong-buy rating in a research note issued to investors on Monday morning,Zacks.com reports.

A number of other brokerages have also weighed in on PVH. UBS Group decreased their target price on shares of PVH from $148.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, March 6th. Jefferies Financial Group decreased their target price on shares of PVH from $85.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, January 27th. Telsey Advisory Group restated a “market perform” rating and issued a $74.00 price objective on shares of PVH in a research note on Wednesday, April 1st. Wall Street Zen upgraded PVH from a “hold” rating to a “buy” rating in a research note on Sunday, May 10th. Finally, Needham & Company LLC upped their price objective on PVH from $100.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $88.93.

PVH Price Performance

Shares of PVH opened at $93.95 on Monday. The firm has a market cap of $4.30 billion, a PE ratio of 247.24, a P/E/G ratio of 0.98 and a beta of 1.73. The company has a current ratio of 1.52, a quick ratio of 0.85 and a debt-to-equity ratio of 0.48. The firm has a fifty day simple moving average of $82.20 and a two-hundred day simple moving average of $74.33. PVH has a 1-year low of $59.60 and a 1-year high of $100.15.

PVH (NYSE:PVH) last announced its earnings results on Tuesday, March 31st. The textile maker reported $3.82 earnings per share for the quarter, beating analysts’ consensus estimates of $3.30 by $0.52. The business had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.43 billion. PVH had a net margin of 0.28% and a return on equity of 11.55%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned $3.27 EPS. On average, equities analysts anticipate that PVH will post 12.01 EPS for the current year.

PVH Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 3rd will be paid a $0.0375 dividend. This represents a $0.15 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Wednesday, June 3rd. PVH’s dividend payout ratio is 39.47%.

Institutional Investors Weigh In On PVH

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Lingohr Asset Management GmbH purchased a new stake in PVH in the 3rd quarter worth $4,311,000. Strengthening Families & Communities LLC purchased a new stake in PVH in the 3rd quarter worth $2,620,000. LSV Asset Management increased its stake in PVH by 47.8% in the 3rd quarter. LSV Asset Management now owns 1,963,303 shares of the textile maker’s stock worth $164,466,000 after buying an additional 634,887 shares in the last quarter. Principal Financial Group Inc. increased its stake in PVH by 2.2% in the 4th quarter. Principal Financial Group Inc. now owns 563,629 shares of the textile maker’s stock worth $37,774,000 after buying an additional 12,279 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its stake in PVH by 51.8% in the 3rd quarter. Allianz Asset Management GmbH now owns 311,555 shares of the textile maker’s stock worth $26,099,000 after buying an additional 106,262 shares in the last quarter. 97.25% of the stock is currently owned by hedge funds and other institutional investors.

About PVH

PVH Corp is a leading global apparel company known for its portfolio of iconic brands in the dress shirt, sportswear and lifestyle categories. The company designs, markets and distributes clothing, accessories and fragrances under both owned and licensed brands. PVH’s core brand holdings include Calvin Klein and Tommy Hilfiger, complemented by a range of heritage labels such as Van Heusen, IZOD, ARROW, Warner’s and Olga.

PVH’s operations span the entire value chain from product design and development to manufacturing, marketing and distribution.