PVH (PVH) Upgraded to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of PVH (NYSE:PVH) from a hold rating to a buy rating in a research report sent to investors on Thursday morning. They currently have $158.00 target price on the textile maker’s stock.
According to Zacks, “PVH Corp. has outperformed the industry in the past year driven by its superb earnings history and brand strength. The company delivered robust earnings and sales results in third-quarter fiscal 2017. While this marked the company’s fifth straight sales beat, earnings topped estimates for the 14th consecutive quarter. Results continued to benefit from solid momentum at its premium Calvin Klein and Tommy Hilfiger brands. Further, the company provided a favorable view for the fourth quarter and raised earnings outlook for fiscal 2017. However, concerns regarding the volatile macroeconomic and geopolitical environment remain. While currency rates are expected to improve in the fourth quarter, it is likely to hurt fiscal 2017 earnings by 17 cents per share. Nonetheless, its efforts to keep pace with the evolving consumer trends, efficient brand management and healthy cash flows, bode well.”
PVH has been the topic of a number of other research reports. Cowen set a $150.00 price target on shares of PVH and gave the stock a buy rating in a research report on Monday, November 27th. Piper Jaffray Companies restated a buy rating and issued a $148.00 price target on shares of PVH in a research report on Wednesday, November 1st. Telsey Advisory Group boosted their price target on shares of PVH from $145.00 to $158.00 and gave the stock an outperform rating in a research report on Thursday, November 30th. Wells Fargo & Co boosted their price target on shares of PVH from $158.00 to $165.00 and gave the stock an outperform rating in a research report on Wednesday, January 3rd. Finally, Barclays set a $156.00 price target on shares of PVH and gave the stock a buy rating in a research report on Saturday, December 2nd. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. PVH presently has an average rating of Buy and an average target price of $147.59.
PVH (NYSE:PVH) last posted its earnings results on Wednesday, November 29th. The textile maker reported $3.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.91 by $0.11. The firm had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.34 billion. PVH had a net margin of 6.22% and a return on equity of 11.95%. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.60 EPS. research analysts expect that PVH will post 7.81 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, December 20th. Investors of record on Wednesday, November 22nd were given a dividend of $0.038 per share. The ex-dividend date of this dividend was Tuesday, November 21st. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.11%. PVH’s payout ratio is presently 2.23%.
In related news, CEO Steven B. Shiffman sold 3,100 shares of the business’s stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $136.38, for a total transaction of $422,778.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Mark D. Fischer sold 2,300 shares of the business’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $140.50, for a total transaction of $323,150.00. The disclosure for this sale can be found here. Insiders have sold a total of 388,299 shares of company stock worth $51,554,859 in the last quarter. 1.50% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Parametric Portfolio Associates LLC lifted its position in shares of PVH by 11.0% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 197,266 shares of the textile maker’s stock valued at $24,867,000 after acquiring an additional 19,560 shares during the period. Visionary Asset Management Inc. acquired a new position in shares of PVH during the 3rd quarter valued at $266,000. Public Employees Retirement System of Ohio lifted its position in shares of PVH by 22.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 163,643 shares of the textile maker’s stock valued at $20,629,000 after acquiring an additional 30,489 shares during the period. GSA Capital Partners LLP lifted its position in shares of PVH by 192.5% during the 3rd quarter. GSA Capital Partners LLP now owns 11,467 shares of the textile maker’s stock valued at $1,446,000 after acquiring an additional 7,546 shares during the period. Finally, Hahn Capital Management LLC lifted its position in shares of PVH by 1.0% during the 3rd quarter. Hahn Capital Management LLC now owns 290,773 shares of the textile maker’s stock valued at $36,655,000 after acquiring an additional 2,751 shares during the period. Institutional investors own 93.82% of the company’s stock.
TRADEMARK VIOLATION WARNING: “PVH (PVH) Upgraded to “Buy” at Zacks Investment Research” was reported by Watch List News and is the property of of Watch List News. If you are accessing this story on another domain, it was illegally stolen and republished in violation of U.S. and international trademark and copyright laws. The legal version of this story can be read at https://www.watchlistnews.com/pvh-pvh-upgraded-to-buy-at-zacks-investment-research/1808417.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for PVH Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PVH and related companies with MarketBeat.com's FREE daily email newsletter.