PVH Corp (NYSE:PVH) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Monday.
According to Zacks, “PVH Corp. has outperformed the broader industry in the last one year on the back of superb earnings history and brand strength. The company posted fourth-quarter fiscal 2016 results, wherein sales saw its second consecutive beat, while earnings kept its positive surprise streak alive for the 11th straight time. Results continued to gain from the solid momentum at its Calvin Klein and Tommy Hilfiger brands, particularly in the international regions. PVH’s solid show despite a tough macro scenario encouraged management to issue a favorable outlook, as it remains confident of its investments in brands and global platforms. However, earnings fell year over year due to greater marketing costs and lingering currency headwinds. Further, management expects currency woes, along with a volatile retail scenario to remain deterrents in fiscal 2017. Nonetheless, the company’s recent efforts to keep pace with the evolving consumer trends bode well.”
Other research analysts also recently issued reports about the stock. Credit Suisse Group AG cut their price target on shares of PVH Corp to $114.00 in a report on Thursday. Wunderlich reissued a “buy” rating and issued a $125.00 price target on shares of PVH Corp in a report on Saturday. 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 report on Friday. Cowen and Company raised their price target on shares of PVH Corp from $108.00 to $118.00 and gave the company a “buy” rating in a report on Thursday. Finally, Brean Capital reissued a “buy” rating and issued a $120.00 price target (down from $124.00) on shares of PVH Corp in a report on Thursday, January 5th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. PVH Corp currently has a consensus rating of “Buy” and an average price target of $117.07.
Shares of PVH Corp (NYSE:PVH) opened at 101.71 on Monday. The firm has a market capitalization of $7.95 billion, a P/E ratio of 14.98 and a beta of 0.67. PVH Corp has a 12-month low of $82.10 and a 12-month high of $115.40. The company has a 50-day moving average price of $91.13 and a 200-day moving average price of $100.00.
PVH Corp (NYSE:PVH) last announced its quarterly earnings results on Wednesday, March 22nd. The company reported $1.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.04. PVH Corp had a net margin of 7.10% and a return on equity of 12.15%. The firm earned $2.11 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same period last year, the firm earned $1.52 EPS. The business’s quarterly revenue was down .2% compared to the same quarter last year. Equities analysts predict that PVH Corp will post $6.76 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 24th. Stockholders of record on Friday, February 24th were issued a dividend of $0.0375 per share. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date was Wednesday, February 22nd. PVH Corp’s dividend payout ratio is currently 2.10%.
Several hedge funds have recently bought and sold shares of PVH. Advisors Asset Management Inc. boosted its position in shares of PVH Corp by 172.0% in the third quarter. Advisors Asset Management Inc. now owns 1,088 shares of the company’s stock worth $120,000 after buying an additional 688 shares during the last quarter. TLP Group LLC acquired a new position in shares of PVH Corp during the third quarter worth approximately $137,000. Parametrica Management Ltd acquired a new position in shares of PVH Corp during the third quarter worth approximately $214,000. Horizon Investment Services LLC acquired a new position in shares of PVH Corp during the third quarter worth approximately $215,000. Finally, Ariel Capital Advisors LLC acquired a new position in shares of PVH Corp during the third quarter worth approximately $221,000. 97.96% of the stock is owned by institutional investors.
About PVH Corp
PVH Corp. is an apparel company. The Company’s segments include Calvin Klein North America; Calvin Klein International; Tommy Hilfiger North America; Tommy Hilfiger International; Heritage Brands Wholesale, and Heritage Brands Retail. The Company’s brand portfolio consists of various brand names, including Calvin Klein, Tommy Hilfiger, Van Heusen, IZOD, ARROW, Warner’s, Olga and Eagle, which are owned, and Speedo, Geoffrey Beene, Kenneth Cole New York, Kenneth Cole Reaction, Sean John, MICHAEL Michael Kors, Michael Kors Collection and Chaps, which are licensed, as well as various other licensed and private label brands.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for PVH Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PVH Corp and related companies with MarketBeat.com's FREE daily email newsletter.