PVH Corp. (PVH) Earns Buy Rating from Analysts at Bank of America Corporation

Bank of America Corporation began coverage on shares of PVH Corp. (NYSE:PVH) in a report released on Thursday, August 3rd, Marketbeat reports. The firm set a “buy” rating and a $146.00 price target on the textile maker’s stock. Bank of America Corporation’s price target would indicate a potential upside of 17.86% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on PVH. B. Riley reissued a “buy” rating and issued a $125.00 price target on shares of PVH Corp. in a report on Sunday, April 9th. Zacks Investment Research raised shares of PVH Corp. from a “hold” rating to a “buy” rating and set a $113.00 price target on the stock in a report on Tuesday, May 16th. J P Morgan Chase & Co raised shares of PVH Corp. from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $116.00 to $125.00 in a report on Thursday, May 25th. Piper Jaffray Companies set a $120.00 target price on shares of PVH Corp. and gave the company a “buy” rating in a research note on Thursday, May 25th. Finally, Cowen and Company raised their target price on shares of PVH Corp. from $118.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, May 25th. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $126.53.

PVH Corp. (NYSE:PVH) opened at 123.88 on Thursday. The firm has a market cap of $9.64 billion, a price-to-earnings ratio of 25.61 and a beta of 0.51. PVH Corp. has a 12 month low of $84.53 and a 12 month high of $126.11. The stock’s 50 day moving average is $116.46 and its 200-day moving average is $102.67.

PVH Corp. (NYSE:PVH) last announced its quarterly earnings results on Wednesday, May 24th. The textile maker reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.05. PVH Corp. had a net margin of 4.69% and a return on equity of 11.57%. The firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same period in the prior year, the firm posted $1.50 earnings per share. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, analysts anticipate that PVH Corp. will post $7.52 earnings per share for the current fiscal year.

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In other PVH Corp. news, COO Michael A. Shaffer sold 45,525 shares of the business’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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Dana Perlman sold 769 shares of the business’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 disclosure for this sale can be found here. In the last ninety days, insiders sold 59,627 shares of company stock valued at $6,584,743. 1.30% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of PVH. Macquarie Group Ltd. raised its position in shares of PVH Corp. by 180.0% in the fourth quarter. Macquarie Group Ltd. now owns 128,287 shares of the textile maker’s stock worth $11,576,000 after buying an additional 82,472 shares during the period. Prudential Financial Inc. raised its position in shares of PVH Corp. by 3.2% in the first quarter. Prudential Financial Inc. now owns 438,951 shares of the textile maker’s stock worth $45,419,000 after buying an additional 13,671 shares during the period. Stratos Wealth Partners LTD. purchased a new stake in PVH Corp. during the first quarter worth about $236,000. Global X Management Co. LLC increased its stake in PVH Corp. by 36.2% in the first quarter. Global X Management Co. LLC now owns 8,334 shares of the textile maker’s stock worth $862,000 after buying an additional 2,214 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC increased its stake in PVH Corp. by 47.2% in the second quarter. Quantitative Systematic Strategies LLC now owns 24,810 shares of the textile maker’s stock worth $2,823,000 after buying an additional 7,961 shares in the last quarter. 97.42% 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.

Analyst Recommendations for PVH Corp. (NYSE:PVH)

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