PVH Corp (PVH) Rating Lowered to Hold at Zacks Investment Research
PVH Corp (NYSE:PVH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday.
According to Zacks, “PVH Corp. has outperformed the broader industry year to date. The company has been doing well on the back of superb earnings history and brand strength. The company's diversified portfolio allows it to stay ahead of its peers, generate above-average industry growth and sustain its position in the current challenging environment. PVH’s approach to brand management facilitates each of its brands to develop further through efficient marketing strategies, financial control and operating leverage. Further, focus on higher-margin businesses through buyouts and divestments bode well. These factors helped the company to post its 11th consecutive earnings beat and second sales beat in fourth-quarter fiscal 2016. However, management expects currency woes, along with a volatile retail scenario to remain deterrents in fiscal 2017. First quarter estimates have been stable lately ahead of the earnings release.”
A number of other research analysts have also recently issued reports on the stock. B. Riley reissued a “buy” rating and set a $125.00 price target on shares of PVH Corp in a research report on Sunday, April 9th. Wunderlich reissued a “buy” rating and set a $125.00 price target on shares of PVH Corp in a research report on Saturday, March 25th. Citigroup Inc raised shares of PVH Corp from a “neutral” rating to a “buy” rating and set a $115.00 price target for the company in a research report on Friday, March 24th. Cowen and Company lifted their price target on shares of PVH Corp from $108.00 to $118.00 and gave the company a “buy” rating in a research report on Thursday, March 23rd. Finally, Credit Suisse Group AG lowered their price target on shares of PVH Corp to $114.00 in a research report on Thursday, March 23rd. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $118.27.
PVH Corp (NYSE:PVH) traded up 1.33% during midday trading on Friday, hitting $100.41. 1,583,004 shares of the stock traded hands. The stock’s 50-day moving average price is $101.29 and its 200-day moving average price is $97.82. The stock has a market capitalization of $7.85 billion, a P/E ratio of 14.79 and a beta of 0.67. PVH Corp has a 52 week low of $83.80 and a 52 week high of $115.40.
PVH Corp (NYSE:PVH) last issued its quarterly earnings results on Wednesday, March 22nd. The textile maker reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.04. PVH Corp had a net margin of 7.10% and a return on equity of 12.15%. The company had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same period last year, the company posted $1.52 EPS. PVH Corp’s revenue was down .2% on a year-over-year basis. Equities research analysts expect that PVH Corp will post $7.39 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 20th. Stockholders of record on Thursday, May 18th will be paid a $0.038 dividend. The ex-dividend date is Tuesday, May 16th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.15%. PVH Corp’s dividend payout ratio is presently 2.10%.
In other news, CEO Daniel Grieder sold 18,701 shares of PVH Corp stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $103.43, for a total value of $1,934,244.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark D. Fischer sold 1,000 shares of PVH Corp stock in a transaction that occurred on Friday, March 24th. The stock was sold at an average price of $101.72, for a total transaction of $101,720.00. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Great West Life Assurance Co. Can raised its stake in shares of PVH Corp by 2.8% in the third quarter. Great West Life Assurance Co. Can now owns 60,293 shares of the textile maker’s stock worth $6,659,000 after buying an additional 1,645 shares in the last quarter. World Asset Management Inc raised its stake in shares of PVH Corp by 1.4% in the third quarter. World Asset Management Inc now owns 8,166 shares of the textile maker’s stock worth $902,000 after buying an additional 116 shares in the last quarter. Huntington National Bank raised its stake in shares of PVH Corp by 1,231.4% in the third quarter. Huntington National Bank now owns 3,981 shares of the textile maker’s stock worth $440,000 after buying an additional 3,682 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of PVH Corp during the third quarter worth approximately $1,348,000. Finally, LMR Partners LLP bought a new stake in shares of PVH Corp during the third quarter worth approximately $787,000. Hedge funds and other institutional investors own 97.96% 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.
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