Wells Fargo & Company Issues Positive Forecast for PVH (NYSE:PVH) Stock Price

PVH (NYSE:PVH) had its price objective hoisted by Wells Fargo & Company from $85.00 to $100.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the textile maker’s stock.

A number of other brokerages have also recently issued reports on PVH. Morgan Stanley cut their price objective on shares of PVH from $95.00 to $86.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 2nd. Barclays decreased their price target on PVH from $103.00 to $87.00 and set an “overweight” rating on the stock in a research note on Monday, April 28th. Evercore ISI lowered their price objective on PVH from $139.00 to $105.00 and set an “outperform” rating for the company in a research report on Tuesday, April 1st. StockNews.com cut shares of PVH from a “buy” rating to a “hold” rating in a report on Friday, April 18th. Finally, JPMorgan Chase & Co. cut their target price on shares of PVH from $91.00 to $87.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $105.67.

PVH Trading Up 8.0%

Shares of PVH stock opened at $86.93 on Wednesday. PVH has a 12-month low of $59.28 and a 12-month high of $124.68. The company has a market cap of $4.58 billion, a price-to-earnings ratio of 7.08, a PEG ratio of 0.77 and a beta of 1.81. The company has a current ratio of 1.29, a quick ratio of 0.69 and a debt-to-equity ratio of 0.31. The company’s 50-day moving average price is $69.46 and its 200-day moving average price is $86.77.

PVH (NYSE:PVH) last announced its quarterly earnings results on Monday, March 31st. The textile maker reported $3.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.19 by $0.08. PVH had a net margin of 8.13% and a return on equity of 13.66%. The firm had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.34 billion. During the same period in the prior year, the firm posted $3.72 earnings per share. The company’s revenue for the quarter was down 4.8% on a year-over-year basis. On average, equities analysts expect that PVH will post 11.67 earnings per share for the current fiscal year.

PVH Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Wednesday, June 4th will be issued a dividend of $0.0375 per share. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date of this dividend is Wednesday, June 4th. PVH’s dividend payout ratio (DPR) is presently 1.42%.

Hedge Funds Weigh In On PVH

A number of hedge funds have recently bought and sold shares of the company. Eisler Capital Management Ltd. bought a new position in PVH in the 1st quarter worth about $570,000. Caisse DE Depot ET Placement DU Quebec bought a new position in PVH in the 1st quarter worth about $8,213,000. Comerica Bank boosted its stake in PVH by 0.7% in the 1st quarter. Comerica Bank now owns 24,728 shares of the textile maker’s stock worth $1,598,000 after purchasing an additional 180 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in PVH in the 1st quarter worth about $3,353,000. Finally, Jump Financial LLC bought a new position in PVH in the 1st quarter worth about $6,346,000. Institutional investors own 97.25% of the company’s stock.

PVH Company Profile

PVH Corp. operates as an apparel company in the United States and internationally. The company operates through Tommy Hilfiger North America, Tommy Hilfiger International, Calvin Klein North America, Calvin Klein International, and Heritage Brands Wholesale segments. It designs and markets men's, women's, and children's branded apparel, footwear and accessories, underwear, sleepwear, outerwear, home furnishings, luggage, dresses, suits and swimwear, activewear, sportswear, socks and accessories, outerwear, golf products, footwear, watches and jewelry, eyeglasses and non-ophthalmic sunglasses, jeans wear, performance apparel, intimate apparel, dress shirts, handbags, fragrance, small leather goods, and other related products; and men's and boy's tailored clothing products, duvets, pillows, mattress pads and toppers, and feather beds.