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.
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