PVH (NYSE:PVH) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of PVH (NYSE:PVH) from a buy rating to a hold rating in a research note released on Monday morning, Zacks.com reports. The firm currently has $106.00 target price on the textile maker’s stock.

According to Zacks, “Shares of PVH Corp outperformed the industry in the past three months. Recently, the company agreed to sell its Speedo North America business licenses to Pentland Group for $170 million in cash, after working capital adjustments. As a result, management revised its earnings view for the fourth quarter and fiscal 2019, which are now envisioned at the high end of the earlier guided range. Moreover, impressive growth in the Tommy Hilfiger and Calvin Klein brands is aiding the company's top line. Tommy Hilfiger’s momentum is expected to continue throughout fiscal 2019, backed by stellar performance in Europe and gains from buyouts. However, softness at Heritage Brands owing to a challenging retail landscape is likely to persist. Moreover, concerns related to tariffs, currency, competitive and promotional environment cannot be ignored.”

Several other research analysts also recently weighed in on the stock. DA Davidson upped their price target on shares of PVH from $105.00 to $115.00 and gave the stock a buy rating in a research report on Wednesday, November 27th. ValuEngine upgraded shares of PVH from a sell rating to a hold rating in a report on Friday, January 10th. Barclays reiterated a hold rating and issued a $98.00 price objective (down previously from $100.00) on shares of PVH in a report on Wednesday, November 27th. Piper Jaffray Companies increased their price objective on shares of PVH from $82.00 to $101.00 and gave the company an overweight rating in a report on Tuesday, September 17th. Finally, Royal Bank of Canada reiterated a buy rating and issued a $115.00 price objective on shares of PVH in a report on Thursday, January 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $106.26.

PVH opened at $98.74 on Monday. PVH has a twelve month low of $67.41 and a twelve month high of $134.24. The company has a quick ratio of 0.71, a current ratio of 1.40 and a debt-to-equity ratio of 0.71. The company has a 50-day moving average price of $102.45 and a 200 day moving average price of $90.65. The company has a market cap of $7.29 billion, a PE ratio of 10.29, a price-to-earnings-growth ratio of 1.06 and a beta of 1.51.

PVH (NYSE:PVH) last released its quarterly earnings results on Monday, November 25th. The textile maker reported $3.10 earnings per share for the quarter, topping the consensus estimate of $2.99 by $0.11. PVH had a net margin of 6.57% and a return on equity of 12.17%. The firm had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the prior year, the firm earned $3.21 EPS. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, sell-side analysts expect that PVH will post 9.47 earnings per share for the current year.

The company also recently declared a dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, November 27th were issued a dividend of $0.0375 per share. The ex-dividend date was Tuesday, November 26th. PVH’s dividend payout ratio is currently 1.56%.

Several hedge funds and other institutional investors have recently made changes to their positions in PVH. NuWave Investment Management LLC increased its holdings in shares of PVH by 580.4% during the 3rd quarter. NuWave Investment Management LLC now owns 313 shares of the textile maker’s stock worth $26,000 after buying an additional 267 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of PVH by 1,050.0% during the 3rd quarter. Parallel Advisors LLC now owns 460 shares of the textile maker’s stock worth $41,000 after buying an additional 420 shares during the last quarter. San Francisco Sentry Investment Group CA increased its holdings in shares of PVH by 94.7% during the 3rd quarter. San Francisco Sentry Investment Group CA now owns 479 shares of the textile maker’s stock worth $42,000 after buying an additional 233 shares during the last quarter. CSat Investment Advisory L.P. increased its holdings in shares of PVH by 111.8% during the 2nd quarter. CSat Investment Advisory L.P. now owns 663 shares of the textile maker’s stock worth $62,000 after buying an additional 350 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of PVH by 133.3% during the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 700 shares of the textile maker’s stock worth $62,000 after buying an additional 400 shares during the last quarter. Institutional investors and hedge funds own 98.10% of the company’s stock.

About PVH

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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