Goldman Sachs Group cuts PVH (NYSE:PVH) target price to $121.00

PVH (NYSE: PVH – Get an Assessment) had its price target lowered by equity analysts at Goldman Sachs Group from $140.00 to $121.00 in a report on Friday, Benzinga reports. The company currently has a “buy” rating on the textile maker’s stock. Goldman Sachs Group’s price target suggests upside potential of 57.94% from the stock’s previous close.

A number of other research analysts have also recently released reports on the stock. Zacks Investment Research downgraded PVH shares from a “hold” rating to a “sell” rating and set a price target of $89.00 for the stock. in a research report on Monday. Truist Financial began covering PVH shares in a research report on Thursday, December 16. They issued a “holding” rating and a price target of $100.00 on the stock. Citigroup cut its price target on PVH shares from $105.00 to $94.00 and set a “neutral” rating on the stock in a research report Thursday. Bank of America raised its price target on PVH shares from $136.00 to $156.00 and gave the company a “buy” rating in a Thursday, Feb. 17 research report. Finally, Credit Suisse Group cut its price target on PVH shares from $145.00 to $112.00 and set an “outperform” rating on the stock in a research report Wednesday. One research analyst rated the stock with a sell rating, nine gave the stock a hold rating, seven gave the stock a buy rating and one gave the stock a strong buy rating. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $112.25.

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PVH stock opened at $76.61 on Friday. The company’s 50-day moving average is $89.30 and its 200-day moving average is $101.75. The company has a debt ratio of 0.50, a quick ratio of 0.93 and a current ratio of 1.45. PVH has a 1-year minimum of $66.10 and a 1-year maximum of $125.42. The company has a market capitalization of $5.36 billion, a P/E ratio of 10.99, a PEG ratio of 0.15 and a beta of 2.24.

PVH (NYSE:PVH – Get Rating) last released its quarterly results on Tuesday, March 29. The textile maker reported earnings per share (EPS) of $2.84 for the quarter, beating the Zacks consensus estimate of $2.00 by $0.84. PVH had a net margin of 5.72% and a return on equity of 10.13%. The company posted revenue of $2.43 billion for the quarter, versus a consensus estimate of $2.38 billion. During the same period last year, the company posted EPS ($0.38). The company’s revenue for the quarter increased 16.3% year over year. As a group, sell-side analysts expect PVH to post earnings per share of 9.3 for the current year.

Several institutional investors and hedge funds have recently changed their positions in PVH. Egerton Capital UK LLP acquired a new position in shares of PVH in Q3 worth approximately $259,733,000. FIL Ltd increased its stake in the shares of PVH by 84.3% in the 3rd quarter. FIL Ltd now owns 1,664,808 shares of the textile maker worth $171,125,000 after buying an additional 761,301 shares in the last quarter. Norges Bank acquired a new position in PVH shares in Q4 worth approximately $72,130,000. Lone Pine Capital LLC increased its stake in PVH shares by 21.2% in Q3. Lone Pine Capital LLC now owns 3,297,609 shares of the textile maker worth $338,961,000 after buying an additional 577,900 shares in the last quarter. Finally, Viking Global Investors LP increased its stake in PVH shares by 81.7% in the third quarter. Viking Global Investors LP now owns 1,161,695 shares of the textile maker worth $119,411,000 after buying an additional 522,221 shares in the last quarter. 99.58% of the shares are currently held by institutional investors.

PVH Company Profile (Get a rating)

PVH Corp. engages in the design and marketing of branded dress shirts, ties, sportswear, jeans, intimate apparel, bath products, handbags, shoes and other related products. It operates through the following segments: Calvin Klein North America, Calvin Klein International, Tommy Hilfiger North America, Tommy Hilfiger International, Heritage Brands Wholesale and Heritage Brands Retail.

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Analyst Recommendations for PVH (NYSE: PVH)

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