PVH (NYSE:PVH) Sets New 12-Month Low – Here’s Why

Shares of PVH Corp. (NYSE:PVH) hit a new 52-week low on Monday . The company traded as low as $84.69 and last traded at $84.33, with a volume of 4176 shares trading hands. The stock had previously closed at $89.60.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PVH. JPMorgan Chase & Co. downgraded PVH from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $149.00 to $113.00 in a report on Friday, January 24th. Wells Fargo & Company downgraded PVH from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $130.00 to $105.00 in a report on Monday. Morgan Stanley lowered their price target on PVH from $103.00 to $95.00 and set an “equal weight” rating for the company in a report on Tuesday, January 21st. Telsey Advisory Group reissued an “outperform” rating and issued a $130.00 price target on shares of PVH in a report on Wednesday, December 4th. Finally, Barclays raised their price target on PVH from $142.00 to $144.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, PVH presently has a consensus rating of “Moderate Buy” and an average target price of $122.13.

PVH Price Performance

The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.69. The stock has a 50 day moving average price of $103.32 and a 200-day moving average price of $100.10. The stock has a market capitalization of $4.65 billion, a price-to-earnings ratio of 6.82, a price-to-earnings-growth ratio of 0.91 and a beta of 2.06.

PVH (NYSE:PVH) last issued its quarterly earnings results on Wednesday, December 4th. The textile maker reported $3.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.44. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.22 billion. PVH had a return on equity of 13.66% and a net margin of 8.13%. The business’s revenue was down 4.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.90 earnings per share. On average, analysts forecast that PVH Corp. will post 11.67 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Mark D. Fischer sold 3,186 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $105.50, for a total value of $336,123.00. Following the transaction, the executive vice president now owns 23,103 shares of the company’s stock, valued at $2,437,366.50. This represents a 12.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PVH

Several large investors have recently modified their holdings of the business. Ieq Capital LLC acquired a new position in shares of PVH in the 4th quarter valued at $3,059,000. New York State Common Retirement Fund lifted its stake in shares of PVH by 61.5% in the 4th quarter. New York State Common Retirement Fund now owns 177,417 shares of the textile maker’s stock valued at $18,762,000 after purchasing an additional 67,539 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of PVH in the 4th quarter valued at $306,000. Peregrine Capital Management LLC lifted its stake in shares of PVH by 27.3% in the 4th quarter. Peregrine Capital Management LLC now owns 49,725 shares of the textile maker’s stock valued at $5,258,000 after purchasing an additional 10,659 shares during the last quarter. Finally, Truist Financial Corp lifted its stake in shares of PVH by 70.8% in the 4th quarter. Truist Financial Corp now owns 6,498 shares of the textile maker’s stock valued at $687,000 after purchasing an additional 2,693 shares during the last quarter. Institutional investors and hedge funds own 97.25% of the company’s stock.

About PVH

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.