PVH (NYSE: PVH – Get a Rating) had its price target lowered by UBS Group research analysts from $132.00 to $84.00 in a note to investors on Friday, reports The Fly. UBS Group’s price target suggests upside potential of 47.45% from the stock’s previous close.
Other research analysts have also recently published research reports on the company. Goldman Sachs Group lowered its price target on PVH from $140.00 to $121.00 and set a “buy” rating on the stock in a Friday, April 1 research report. Telsey Advisory Group reduced its target price on PVH from $120.00 to $110.00 and set an “outperform” rating on the stock in a Friday, June 3 research report. Truist Financial cut its price target on PVH from $100.00 to $81.00 and set a “hold” rating on the stock in a Tuesday, April 5 report. Wells Fargo & Company cut its price target on PVH from $80.00 to $70.00 and set an “equal weight” rating on the stock in a report Thursday, July 7. Finally, Wedbush reduced its price target on PVH from $89.00 to $82.00 and set a “neutral” rating on the stock in a Thursday, June 2 report. Eight research analysts gave the stock a hold rating and eight gave the company a buy rating. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $100.57.
PVH stock up 3.4%
PVH stock opened at $56.97 on Friday. PVH has a 52-week low of $54.57 and a 52-week high of $125.42. The company has a quick ratio of 0.81, a current ratio of 1.39 and a leverage ratio of 0.42. The company has a 50-day simple moving average of $63.50 and a 200-day simple moving average of $79.47. The company has a market capitalization of $3.81 billion, a PE ratio of 4.11, a growth price-earnings ratio of 0.68 and a beta of 2.08.
PVH (NYSE:PVH – Get Rating) last released its results on Wednesday, June 1. The textile maker reported earnings per share (EPS) of $1.94 for the quarter, beating consensus analyst estimates of $1.58 by $0.36. PVH had a return on equity of 13.94% and a net margin of 10.71%. The company posted revenue of $2.12 billion for the quarter, versus $2.09 billion expected by analysts. In the same quarter a year earlier, the company posted earnings of $1.92 per share. The company’s revenue for the quarter increased 2.1% year over year. Sell-side analysts expect PVH to post 9 EPS for the current fiscal year.
Insider activity at PVH
In other PVH news, Executive Vice President Dana Perlman sold 455 shares of the company in a trade that took place on Tuesday, April 19. The stock was sold at an average price of $80.50, for a total value of $36,627.50. Following the transaction, the executive vice president now directly owns 16,409 shares of the company, valued at $1,320,924.50. The sale was disclosed in a legal filing with the SEC, which is available via this link. 0.56% of the shares are currently held by insiders of the company.
Hedge funds weigh on PVH
Several institutional investors have recently increased or reduced their stake in the company. Pzena Investment Management LLC increased its stake in PVH by 0.8% in the first quarter. Pzena Investment Management LLC now owns 7,836,192 shares of the textile maker valued at $600,331,000 after purchasing an additional 60,361 shares during the period. State Street Corp increased its position in PVH shares by 3.9% during the fourth quarter. State Street Corp now owns 2,396,147 shares of the textile maker worth $255,549,000 after purchasing an additional 89,620 shares during the period. Dimensional Fund Advisors LP increased its position in PVH shares by 17.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,215,397 shares of the textile maker worth $169,740,000 after buying an additional 329,358 shares during the period. Invesco Ltd. increased its position in PVH shares by 9.7% during the first quarter. Invesco Ltd. now owns 1,684,738 shares of the textile maker worth $129,067,000 after purchasing an additional 148,917 shares during the period. Finally, Viking Global Investors LP increased its position in PVH shares by 100.6% during the first quarter. Viking Global Investors LP now owns 1,542,375 shares of the textile maker worth $118,161,000 after buying an additional 773,566 shares during the period. 98.34% of the shares are held by institutional investors and hedge funds.
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PVH Corp. operates as a worldwide clothing company. The Company operates through six segments: Tommy Hilfiger North America, Tommy Hilfiger International, Calvin Klein North America, Calvin Klein International, Heritage Brands Wholesale and Heritage Brands Retail. It designs, markets and retails clothing and accessories for men, women and children, including branded dress shirts, ties, sportswear, jeans, performance wear, underwear, underwear -clothing, swimwear, swimming-related products, handbags, accessories, footwear, outerwear, home furnishings, luggage, sleepwear, loungewear, hats, scarves, gloves, socks, watches and jewellery, non-ophthalmic glasses and sunglasses, perfumes, bed and bath furniture, small leather goods and other products.
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