PVH Corp. (PVH) Receives New Coverage from Analysts at Deutsche Bank AG
Deutsche Bank AG assumed coverage on shares of PVH Corp. (NYSE:PVH) in a report released on Monday. The firm set a “hold” rating and a $131.00 price target on the textile maker’s stock. Deutsche Bank AG’s target price points to a potential upside of 1.02% from the company’s previous close.
Other equities analysts have also recently issued research reports about the stock. UBS AG restated a “buy” rating and issued a $128.00 price objective (up previously from $120.00) on shares of PVH Corp. in a research note on Monday, June 26th. Credit Suisse Group set a $136.00 price objective on shares of PVH Corp. and gave the company a “buy” rating in a research note on Friday, August 18th. Sanford C. Bernstein assumed coverage on shares of PVH Corp. in a research note on Tuesday, September 12th. They issued a “market perform” rating and a $142.00 price objective for the company. Cowen and Company set a $140.00 price objective on shares of PVH Corp. and gave the company a “buy” rating in a research note on Friday, August 11th. Finally, BidaskClub cut shares of PVH Corp. from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 23rd. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. PVH Corp. has a consensus rating of “Buy” and a consensus target price of $138.71.
PVH Corp. (PVH) traded up 1.07% on Monday, hitting $129.68. 1,051,273 shares of the stock traded hands. PVH Corp. has a 12-month low of $84.53 and a 12-month high of $133.24. The firm has a market cap of $10.04 billion, a price-to-earnings ratio of 24.73 and a beta of 0.46. The stock has a 50-day moving average of $126.68 and a 200-day moving average of $114.25.
PVH Corp. (NYSE:PVH) last announced its quarterly earnings data on Wednesday, August 23rd. The textile maker reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.04. PVH Corp. had a net margin of 4.96% and a return on equity of 11.67%. The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter in the prior year, the company posted $1.47 EPS. The business’s revenue was up 7.1% on a year-over-year basis. Analysts forecast that PVH Corp. will post $7.72 earnings per share for the current year.
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In other PVH Corp. news, SVP James Holmes sold 851 shares of the stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $126.99, for a total transaction of $108,068.49. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Mark D. Fischer sold 5,589 shares of the stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $128.47, for a total transaction of $718,018.83. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,307 shares of company stock worth $4,980,787. Insiders own 1.30% of the company’s stock.
A number of large investors have recently modified their holdings of PVH. Prudential Financial Inc. grew its holdings in PVH Corp. by 154.7% during the 2nd quarter. Prudential Financial Inc. now owns 1,118,095 shares of the textile maker’s stock worth $128,022,000 after acquiring an additional 679,144 shares during the last quarter. Balyasny Asset Management LLC grew its holdings in PVH Corp. by 136.3% during the 2nd quarter. Balyasny Asset Management LLC now owns 1,173,862 shares of the textile maker’s stock worth $134,407,000 after acquiring an additional 677,096 shares during the last quarter. Renaissance Technologies LLC grew its holdings in PVH Corp. by 153.8% during the 2nd quarter. Renaissance Technologies LLC now owns 761,670 shares of the textile maker’s stock worth $87,211,000 after acquiring an additional 461,600 shares during the last quarter. Congress Asset Management Co. MA bought a new stake in PVH Corp. during the 2nd quarter worth about $47,698,000. Finally, Ameriprise Financial Inc. grew its holdings in PVH Corp. by 14.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,074,193 shares of the textile maker’s stock worth $352,005,000 after acquiring an additional 381,336 shares during the last quarter. 95.20% of the stock is currently owned by hedge funds and other institutional investors.
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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