PVH (NYSE: PVH – Get an Assessment) had its target price reduced by stock analysts Telsey Advisory Group from $110.00 to $80.00 in a report on Thursday, Stock Target Advisor reports. The company currently has an “outperform” rating on shares of the textile maker. Telsey Advisory Group’s price target would suggest a potential upside of 42.22% from the company’s previous close.
PVH has been the subject of several other reports. Piper Sandler reissued a “neutral” rating and set a price target of $68.00 on PVH shares in a Friday, July 22 research report. Morgan Stanley cut its price target on PVH from $89.00 to $83.00 and set an “equal weight” rating for the company in a Friday, June 3 research report. Guggenheim cut its price target on PVH from $130.00 to $105.00 and set a “buy” rating for the company in a research report Wednesday. StockNews.com upgraded PVH from a “buy” rating to a “hold” rating in a Monday, July 25 research report. Finally, Citigroup reduced its price target on PVH from $94.00 to $73.00 and set a “neutral” rating for the company in a Sunday, June 5 research report. Eleven investment analysts gave the stock a hold rating and six gave the stock a buy rating. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $86.07.
PVH stock down 10.5%
PVH stock opened at $56.25 on Thursday. The company has a debt ratio of 0.42, a current ratio of 1.39 and a quick ratio of 0.81. The stock has a market capitalization of $3.77 billion, a P/E ratio of 4.06 and a beta of 2.03. The company has a 50-day moving average of $62.10 and a 200-day moving average of $71.24. PVH has a fifty-two week low of $54.57 and a fifty-two week high of $125.42.
PVH (NYSE:PVH – Get Rating) last released its quarterly earnings data on Tuesday, August 30. The textile maker reported earnings per share of $2.08 for the quarter, beating the consensus estimate of $2.02 by $0.06. The company posted revenue of $2.13 billion in the quarter, compared to $2.21 billion expected by analysts. PVH had a return on equity of 13.94% and a net margin of 10.71%. PVH’s revenue for the quarter decreased 7.8% compared to the same quarter last year. In the same period a year earlier, the company earned earnings per share of $2.72. On average, sell-side analysts expect PVH to post earnings per share of 8.81 for the current fiscal year.
Hedge funds weigh on PVH
A number of hedge funds and other institutional investors have recently shifted their holdings to PVH. Southeastern Asset Management Inc. TN bought a new position in PVH stock in Q2 for a value of approximately $121,380,000. Sound Shore Management Inc. CT bought a new position in PVH in the first quarter worth approximately $110,775,000. Point72 Asset Management LP increased its stake in PVH by 728.6% in the second quarter. Point72 Asset Management LP now owns 1,053,860 shares of the textile maker valued at $59,965,000 after buying an additional 926,680 shares in the last quarter. Viking Global Investors LP increased its stake in PVH by 100.6% in the first quarter. Viking Global Investors LP now owns 1,542,375 shares of the textile maker valued at $118,161,000 after buying an additional 773,566 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in PVH by 119.5% in the second quarter. AQR Capital Management LLC now owns 894,415 shares of the textile maker valued at $50,043,000 after buying an additional 486,888 shares in the last quarter. Hedge funds and other institutional investors own 95.82% of the company’s shares.
PVH Company Profile
(Get a rating)
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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