PVH Corp. (PVH) Lifted to “Buy” 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 Wednesday. The brokerage currently has $143.00 price objective on the textile maker’s stock.
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 analysts have also issued reports about the stock. UBS AG restated a buy rating and issued a $128.00 price objective (up from $120.00) on shares of PVH Corp. in a report on Monday, June 26th. B. Riley restated a buy rating and issued a $128.00 price objective on shares of PVH Corp. in a report on Sunday, June 4th. Credit Suisse Group set a $136.00 target price on shares of PVH Corp. and gave the company a buy rating in a report on Friday, August 18th. Sanford C. Bernstein assumed coverage on shares of PVH Corp. in a report on Tuesday, September 12th. They set a market perform rating and a $142.00 target price for the company. Finally, Cowen and Company lifted their target price on shares of PVH Corp. from $118.00 to $120.00 and gave the company an outperform rating in a report on Thursday, May 25th. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. PVH Corp. presently has an average rating of Buy and a consensus target price of $138.35.
PVH Corp. (NYSE PVH) opened at 126.07 on Wednesday. The company’s 50-day moving average price is $124.86 and its 200-day moving average price is $109.49. The firm has a market capitalization of $9.76 billion, a P/E ratio of 24.04 and a beta of 0.46. PVH Corp. has a 1-year low of $84.53 and a 1-year high of $130.75.
PVH Corp. (NYSE:PVH) last issued its quarterly earnings data on Wednesday, August 23rd. The textile maker reported $1.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.65 by $0.04. PVH Corp. had a net margin of 4.96% and a return on equity of 11.67%. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same period last year, the business posted $1.47 earnings per share. PVH Corp.’s quarterly revenue was up 7.1% compared to the same quarter last year. Equities research analysts expect that PVH Corp. will post $7.71 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Thursday, August 24th were issued a $0.038 dividend. The ex-dividend date of this dividend was Tuesday, August 22nd. This represents a $0.15 dividend on an annualized basis and a yield of 0.12%. PVH Corp.’s payout ratio is currently 2.87%.
In related news, SVP Dana Perlman sold 769 shares of the business’s stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Francis K. Duane sold 24,000 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $126.86, for a total transaction of $3,044,640.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 87,101 shares of company stock valued at $10,311,664. 1.30% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of PVH. US Bancorp DE grew its position in PVH Corp. by 3.5% in the 1st quarter. US Bancorp DE now owns 6,158 shares of the textile maker’s stock worth $637,000 after purchasing an additional 211 shares during the period. UBS Asset Management Americas Inc. grew its position in PVH Corp. by 12.1% in the 1st quarter. UBS Asset Management Americas Inc. now owns 348,342 shares of the textile maker’s stock worth $36,043,000 after purchasing an additional 37,666 shares during the period. Karp Capital Management Corp bought a new stake in PVH Corp. in the 1st quarter worth approximately $3,628,000. Sei Investments Co. grew its position in PVH Corp. by 27.7% in the 1st quarter. Sei Investments Co. now owns 23,913 shares of the textile maker’s stock worth $2,474,000 after purchasing an additional 5,194 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in PVH Corp. by 29.4% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,880 shares of the textile maker’s stock worth $608,000 after purchasing an additional 1,336 shares during the period. 95.32% of the stock is owned by institutional investors and hedge funds.
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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