PVH Corp. (PVH) Upgraded to Buy by ValuEngine

ValuEngine upgraded shares of PVH Corp. (NYSE:PVH) from a hold rating to a buy rating in a report published on Tuesday, June 27th.

Other equities analysts have also recently issued reports about the company. Credit Suisse Group cut their price target on PVH Corp. to $114.00 in a report on Thursday, March 23rd. Wunderlich restated a buy rating and set a $125.00 price target on shares of PVH Corp. in a report on Saturday, March 25th. Citigroup Inc. upgraded PVH Corp. from a neutral rating to a buy rating and set a $115.00 price target on the stock in a report on Friday, March 24th. Cowen and Company upped their target price on PVH Corp. from $108.00 to $118.00 and gave the stock a buy rating in a research report on Thursday, March 23rd. Finally, UBS AG upped their target price on PVH Corp. from $112.00 to $116.00 and gave the stock a buy rating in a research report on Thursday, March 23rd. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. PVH Corp. currently has an average rating of Buy and a consensus price target of $123.06.

Shares of PVH Corp. (PVH) opened at 113.61 on Tuesday. The firm has a market capitalization of $8.84 billion, a P/E ratio of 23.49 and a beta of 0.50. The company has a 50 day moving average of $105.06 and a 200-day moving average of $97.56. PVH Corp. has a 12 month low of $84.53 and a 12 month high of $115.86.

PVH Corp. (NYSE:PVH) last announced its earnings results on Wednesday, May 24th. The textile maker reported $1.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.60 by $0.05. PVH Corp. had a return on equity of 11.57% and a net margin of 4.69%. The business had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the prior year, the business posted $1.50 earnings per share. The firm’s revenue was up 3.7% on a year-over-year basis. Analysts predict that PVH Corp. will post $7.51 EPS for the current year.

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The company also recently declared a quarterly dividend, which was paid on Tuesday, June 20th. Stockholders of record on Thursday, May 18th were paid a dividend of $0.038 per share. The ex-dividend date was Tuesday, May 16th. This represents a $0.15 annualized dividend and a dividend yield of 0.13%. PVH Corp.’s payout ratio is 3.11%.

PVH Corp. declared that its board has authorized a stock repurchase program on Wednesday, March 22nd that permits the company to buyback $750.00 million in shares. This buyback authorization permits the textile maker to reacquire up to 10.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

In other PVH Corp. news, SVP Dana Perlman sold 769 shares of the firm’s stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $114.77, for a total value of $88,258.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Michael A. Shaffer sold 45,525 shares of the firm’s stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $111.37, for a total value of $5,070,119.25. The disclosure for this sale can be found here. Insiders have sold a total of 59,627 shares of company stock valued at $6,584,743 in the last quarter. 1.50% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of PVH. Vaughan Nelson Investment Management L.P. increased its position in shares of PVH Corp. by 12.8% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 388,975 shares of the textile maker’s stock valued at $44,538,000 after buying an additional 44,225 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of PVH Corp. by 20.1% in the second quarter. Oregon Public Employees Retirement Fund now owns 31,702 shares of the textile maker’s stock valued at $3,630,000 after buying an additional 5,300 shares in the last quarter. Cascade Investment Advisors Inc. increased its position in shares of PVH Corp. by 6.0% in the second quarter. Cascade Investment Advisors Inc. now owns 4,135 shares of the textile maker’s stock valued at $473,000 after buying an additional 235 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its position in shares of PVH Corp. by 492.0% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 12,869 shares of the textile maker’s stock valued at $1,474,000 after buying an additional 10,695 shares in the last quarter. Finally, Bank of Montreal Can increased its position in shares of PVH Corp. by 4.8% in the second quarter. Bank of Montreal Can now owns 59,093 shares of the textile maker’s stock valued at $6,766,000 after buying an additional 2,708 shares in the last quarter. Institutional investors and hedge funds own 96.44% of the company’s stock.

PVH Corp. Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for PVH Corp. (NYSE:PVH)

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