Goldman Sachs Group lowered shares of PVH (NYSE:PVH) from a neutral rating to a sell rating in a report published on Wednesday, Benzinga reports. Goldman Sachs Group currently has $82.00 price target on the textile maker’s stock, down from their previous price target of $101.00.
A number of other equities analysts also recently commented on the stock. Morgan Stanley cut their target price on shares of Zuora from $22.00 to $16.00 and set an equal weight rating on the stock in a research note on Friday, May 31st. Guggenheim reissued a buy rating and issued a $150.00 target price on shares of PVH in a research note on Wednesday, May 29th. Nomura cut their target price on shares of GAP from $22.00 to $32.00 and set a neutral rating on the stock in a research note on Friday, May 31st. Citigroup set a $27.00 target price on shares of StoneCo and gave the company a hold rating in a research note on Friday, May 31st. Finally, Credit Suisse Group raised shares of Mosaic from an underperform rating to a neutral rating and set a $27.49 target price on the stock in a research note on Thursday, March 28th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. PVH currently has an average rating of Buy and an average price target of $125.32.
Shares of PVH opened at $88.25 on Wednesday. The firm has a market cap of $6.61 billion, a price-to-earnings ratio of 9.11, a PEG ratio of 0.71 and a beta of 1.41. The company has a fifty day moving average of $90.36. PVH has a fifty-two week low of $82.51 and a fifty-two week high of $159.84. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.75 and a current ratio of 1.47.
PVH (NYSE:PVH) last issued its earnings results on Wednesday, May 29th. The textile maker reported $2.46 EPS for the quarter, beating the Zacks’ consensus estimate of $2.44 by $0.02. PVH had a net margin of 6.69% and a return on equity of 13.03%. The business had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter last year, the firm posted $2.36 EPS. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. Equities research analysts anticipate that PVH will post 10.27 EPS for the current year.
PVH announced that its board has initiated a stock buyback program on Wednesday, March 27th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the textile maker to buy up to 8.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.
In other news, Director Henry Nasella purchased 1,200 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The shares were purchased at an average price of $82.84 per share, with a total value of $99,408.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.20% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in PVH. Pzena Investment Management LLC purchased a new stake in PVH during the 1st quarter worth $237,285,000. FMR LLC increased its stake in PVH by 13.9% during the 1st quarter. FMR LLC now owns 7,692,951 shares of the textile maker’s stock worth $938,155,000 after buying an additional 936,855 shares during the period. Norges Bank purchased a new stake in PVH during the 4th quarter worth $76,331,000. Deutsche Bank AG increased its stake in PVH by 175.6% during the 4th quarter. Deutsche Bank AG now owns 836,414 shares of the textile maker’s stock worth $77,739,000 after buying an additional 532,927 shares during the period. Finally, Amundi Pioneer Asset Management Inc. increased its stake in PVH by 372.6% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 618,887 shares of the textile maker’s stock worth $75,472,000 after buying an additional 487,939 shares during the period. 94.98% of the stock is currently owned by hedge funds and other institutional investors.
PVH Corp. operates as an apparel company in North America and internationally. The company operates through six segments: Calvin Klein North America, Calvin Klein International, Tommy Hilfiger North America, Tommy Hilfiger International, Heritage Brands Wholesale, and Heritage Brands Retail. It designs, markets, and retails men's and women's apparel and accessories, including branded dress shirts, dresses, suits, neckwear, sportswear, jeans wear, performance and intimate apparel, underwear, swimwear, swim products, handbags, luggage products, footwear, golf apparel, sleepwear and loungewear, fragrances, cosmetics, skincare products and toiletries, socks and tights, jewelry, watches, outerwear, small leather goods, and furnishings, as well as other related products.
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