Needham & Company LLC Initiates Coverage on PVH (NYSE:PVH)

Equities researchers at Needham & Company LLC initiated coverage on shares of PVH (NYSE:PVH) in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage set a “buy” rating and a $115.00 price target on the textile maker’s stock. Needham & Company LLC’s price target would suggest a potential upside of 35.42% from the company’s previous close.

PVH has been the subject of a number of other research reports. Wall Street Zen upgraded shares of PVH from a “hold” rating to a “buy” rating in a research report on Thursday, May 15th. Telsey Advisory Group reissued an “outperform” rating and issued a $90.00 price target on shares of PVH in a report on Tuesday, April 1st. BMO Capital Markets decreased their price target on PVH from $106.00 to $93.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 1st. Morgan Stanley cut their price objective on PVH from $95.00 to $86.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 2nd. Finally, JPMorgan Chase & Co. raised their target price on PVH from $87.00 to $99.00 and gave the company a “neutral” rating in a report on Monday, May 19th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $106.38.

PVH Trading Down 2.0%

Shares of PVH stock opened at $84.92 on Friday. The company has a market capitalization of $4.08 billion, a P/E ratio of 6.92, a price-to-earnings-growth ratio of 0.77 and a beta of 1.81. The company has a current ratio of 1.29, a quick ratio of 0.69 and a debt-to-equity ratio of 0.31. The business’s 50 day moving average is $73.56 and its two-hundred day moving average is $85.57. PVH has a twelve month low of $59.28 and a twelve month high of $124.68.

PVH (NYSE:PVH) last posted its quarterly earnings data on Monday, March 31st. The textile maker reported $3.27 earnings per share for the quarter, beating analysts’ consensus estimates of $3.19 by $0.08. The firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.34 billion. PVH had a net margin of 8.13% and a return on equity of 13.66%. PVH’s quarterly revenue was down 4.8% on a year-over-year basis. During the same period last year, the firm posted $3.72 EPS. Equities analysts forecast that PVH will post 11.67 EPS for the current year.

Hedge Funds Weigh In On PVH

Several institutional investors and hedge funds have recently bought and sold shares of the stock. State of Alaska Department of Revenue boosted its stake in shares of PVH by 2.3% in the first quarter. State of Alaska Department of Revenue now owns 6,517 shares of the textile maker’s stock valued at $421,000 after purchasing an additional 149 shares during the period. Treasurer of the State of North Carolina lifted its holdings in PVH by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 24,386 shares of the textile maker’s stock worth $2,579,000 after buying an additional 150 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in PVH by 0.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 30,711 shares of the textile maker’s stock valued at $3,248,000 after buying an additional 152 shares during the last quarter. Assetmark Inc. grew its stake in shares of PVH by 11.8% during the fourth quarter. Assetmark Inc. now owns 1,451 shares of the textile maker’s stock valued at $153,000 after acquiring an additional 153 shares in the last quarter. Finally, Signaturefd LLC grew its stake in shares of PVH by 11.0% during the fourth quarter. Signaturefd LLC now owns 1,569 shares of the textile maker’s stock valued at $166,000 after acquiring an additional 156 shares in the last quarter. Institutional investors and hedge funds own 97.25% of the company’s stock.

PVH Company Profile

PVH Corp. operates as an apparel company in the United States and internationally. The company operates through Tommy Hilfiger North America, Tommy Hilfiger International, Calvin Klein North America, Calvin Klein International, and Heritage Brands Wholesale segments. It designs and markets men's, women's, and children's branded apparel, footwear and accessories, underwear, sleepwear, outerwear, home furnishings, luggage, dresses, suits and swimwear, activewear, sportswear, socks and accessories, outerwear, golf products, footwear, watches and jewelry, eyeglasses and non-ophthalmic sunglasses, jeans wear, performance apparel, intimate apparel, dress shirts, handbags, fragrance, small leather goods, and other related products; and men's and boy's tailored clothing products, duvets, pillows, mattress pads and toppers, and feather beds.