PVH (PVH) Downgraded to “Hold” at Zacks Investment Research
PVH (NYSE:PVH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “PVH Corp. has outperformed the industry in the past year driven by its superb earnings history and brand strength. The company delivered robust earnings and sales results in third-quarter fiscal 2017. While this marked the company’s fifth straight sales beat, earnings topped estimates for the 14th consecutive quarter. Results continued to benefit from solid momentum at its premium Calvin Klein and Tommy Hilfiger brands. Further, the company provided a favorable view for the fourth quarter and raised earnings outlook for fiscal 2017. However, concerns regarding the volatile macroeconomic and geopolitical environment remain. While currency rates are expected to improve in the fourth quarter, it is likely to hurt fiscal 2017 earnings by 17 cents per share. Nonetheless, its efforts to keep pace with the evolving consumer trends, efficient brand management and healthy cash flows, bode well.”
A number of other research analysts also recently issued reports on the stock. Barclays started coverage on shares of PVH in a research report on Tuesday, September 19th. They set an “overweight” rating and a $147.00 target price on the stock. Piper Jaffray Companies reiterated a “buy” rating and set a $148.00 target price on shares of PVH in a research report on Sunday, October 1st. Deutsche Bank started coverage on shares of PVH in a research report on Monday, October 23rd. They set a “hold” rating and a $131.00 target price on the stock. Cowen set a $145.00 target price on shares of PVH and gave the company a “buy” rating in a research report on Wednesday, November 1st. Finally, B. Riley reiterated a “buy” rating on shares of PVH in a research report on Wednesday, November 1st. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. PVH has an average rating of “Buy” and a consensus price target of $147.59.
PVH (NYSE:PVH) last posted its quarterly earnings data on Wednesday, November 29th. The textile maker reported $3.02 EPS for the quarter, beating the Zacks’ consensus estimate of $2.91 by $0.11. PVH had a net margin of 6.22% and a return on equity of 11.95%. The company had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same period in the prior year, the firm posted $2.60 EPS. The company’s quarterly revenue was up 5.0% on a year-over-year basis. equities analysts expect that PVH will post 7.81 EPS for the current year.
In other news, SVP James Holmes sold 2,552 shares of the company’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $135.85, for a total value of $346,689.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Emanuel Chirico sold 370,327 shares of the company’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $132.56, for a total transaction of $49,090,547.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 388,299 shares of company stock worth $51,554,859. Corporate insiders own 1.50% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. YorkBridge Wealth Partners LLC bought a new stake in shares of PVH in the 3rd quarter worth $108,000. Advisor Partners LLC bought a new stake in shares of PVH in the 3rd quarter worth $206,000. Raymond James Trust N.A. bought a new stake in shares of PVH in the 3rd quarter worth $224,000. Smithfield Trust Co. grew its stake in shares of PVH by 576.8% in the 3rd quarter. Smithfield Trust Co. now owns 1,841 shares of the textile maker’s stock worth $232,000 after acquiring an additional 1,569 shares in the last quarter. Finally, Courier Capital LLC bought a new stake in shares of PVH in the 3rd quarter worth $235,000. Hedge funds and other institutional investors own 93.82% of the company’s stock.
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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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