PVH Corp. (PVH) Stock Rating Lowered by Zacks Investment Research
PVH Corp. (NYSE:PVH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “PVH Corp. has outperformed the industry year to date driven by its superb earnings history and brand strength. The company posted better-than-expected earnings and sales results for second-quarter fiscal 2017. While sales marked its fourth consecutive beat, earnings retained its positive surprise trend for the 13th straight time. Results continued to gain from solid momentum at its Calvin Klein and Tommy Hilfiger brands, particularly in the international regions. Further, the company raised earnings outlook for fiscal 2017. However, concerns regarding the volatile macroeconomic and geopolitical environment remain. While currency rates improved in second quarter, currency headwinds are expected to hurt fiscal 2017 earnings by 20 cents per share. Apart from this, a volatile retail scenario and greater marketing costs may hurt performance. Nonetheless, the company’s efforts to keep pace with the evolving consumer trends bode well.”
Other research analysts have also recently issued research reports about the company. Credit Suisse Group set a $136.00 price target on PVH Corp. and gave the stock a “buy” rating in a research report on Friday, August 18th. Sanford C. Bernstein began coverage on PVH Corp. in a research report on Tuesday, September 12th. They issued a “market perform” rating and a $142.00 price target on the stock. Piper Jaffray Companies restated a “buy” rating and issued a $148.00 price target on shares of PVH Corp. in a research report on Wednesday. Cowen and Company set a $145.00 price target on PVH Corp. and gave the stock a “buy” rating in a research report on Wednesday. Finally, BidaskClub cut PVH Corp. from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 23rd. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $138.71.
Shares of PVH Corp. (NYSE PVH) traded up 0.95% during midday trading on Wednesday, hitting $128.01. 247,095 shares of the stock traded hands. The stock has a 50 day moving average of $126.75 and a 200 day moving average of $115.71. The company has a market capitalization of $9.91 billion, a P/E ratio of 24.41 and a beta of 0.46. PVH Corp. has a 1-year low of $84.53 and a 1-year high of $133.24.
PVH Corp. (NYSE:PVH) last posted its quarterly earnings data on Wednesday, August 23rd. The textile maker reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.04. The firm had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.02 billion. PVH Corp. had a return on equity of 11.67% and a net margin of 4.96%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.47 EPS. Equities research analysts predict that PVH Corp. will post $7.72 earnings per share for the current fiscal year.
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In other news, EVP David F. Kozel sold 8,867 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $125.19, for a total transaction of $1,110,059.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Francis K. Duane sold 24,000 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $126.86, for a total value of $3,044,640.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,307 shares of company stock valued at $4,980,787. Corporate insiders own 1.50% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PVH. Wellington Management Group LLP bought a new stake in shares of PVH Corp. during the first quarter valued at approximately $4,409,000. Teachers Advisors LLC increased its holdings in shares of PVH Corp. by 4.7% during the first quarter. Teachers Advisors LLC now owns 377,216 shares of the textile maker’s stock valued at $39,031,000 after acquiring an additional 16,816 shares in the last quarter. Amalgamated Bank increased its holdings in shares of PVH Corp. by 6.2% during the first quarter. Amalgamated Bank now owns 5,642 shares of the textile maker’s stock valued at $584,000 after acquiring an additional 327 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of PVH Corp. during the first quarter valued at approximately $315,000. Finally, Bank of Nova Scotia bought a new stake in shares of PVH Corp. during the first quarter valued at approximately $631,000. Hedge funds and other institutional investors own 95.69% 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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