PVH Corp. (NYSE:PVH) has been assigned a $148.00 price objective by research analysts at Piper Jaffray Companies in a report released on Wednesday. The firm presently has an “overweight” rating on the textile maker’s stock. Piper Jaffray Companies’ target price would indicate a potential upside of 16.61% from the stock’s current price.
A number of other equities research analysts have also issued reports on PVH. Zacks Investment Research raised PVH Corp. from a “hold” rating to a “buy” rating and set a $113.00 target price on the stock in a research note on Tuesday, May 16th. J P Morgan Chase & Co raised PVH Corp. from a “neutral” rating to an “overweight” rating and upped their target price for the company from $116.00 to $125.00 in a research note on Thursday, May 25th. Cowen and Company upped their target price on PVH Corp. from $118.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, May 25th. UBS AG reaffirmed a “buy” rating and issued a $120.00 target price (up previously from $116.00) on shares of PVH Corp. in a research note on Thursday, May 25th. Finally, B. Riley reaffirmed a “buy” rating and issued a $128.00 target price on shares of PVH Corp. in a research note on Tuesday, May 30th. Three research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. PVH Corp. currently has an average rating of “Buy” and an average target price of $129.26.
Shares of PVH Corp. (PVH) traded up 5.73% during mid-day trading on Wednesday, reaching $126.92. The company had a trading volume of 3,806,381 shares. PVH Corp. has a 52 week low of $84.53 and a 52 week high of $130.25. The stock has a 50 day moving average of $118.71 and a 200-day moving average of $104.65. The company has a market capitalization of $9.88 billion, a price-to-earnings ratio of 26.24 and a beta of 0.51. PVH Corp. also was the recipient of some unusual options trading on Wednesday. Traders purchased 13,612 put options on the company. This is an increase of approximately 1,016% compared to the typical daily volume of 1,220 put options.
PVH Corp. (NYSE:PVH) last posted its earnings results on Wednesday, August 23rd. The textile maker reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.04. PVH Corp. had a return on equity of 11.57% and a net margin of 4.69%. The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same quarter in the prior year, the company earned $1.47 EPS. PVH Corp.’s revenue was up 7.1% on a year-over-year basis. On average, analysts expect that PVH Corp. will post $7.54 earnings per share for the current fiscal year.
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In other news, COO Michael A. Shaffer sold 45,525 shares of the company’s stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $111.37, for a total transaction of $5,070,119.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Dana Perlman sold 769 shares of the company’s stock in a transaction on Friday, June 30th. The stock was sold at an average price of $114.77, for a total value of $88,258.13. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,627 shares of company stock valued at $6,584,743. Insiders own 1.50% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in PVH. BlackRock Inc. increased its stake in PVH Corp. by 3,001.8% in the first quarter. BlackRock Inc. now owns 5,090,455 shares of the textile maker’s stock worth $526,711,000 after buying an additional 4,926,341 shares during the last quarter. Prudential Financial Inc. increased its stake in PVH Corp. by 154.7% in the second quarter. Prudential Financial Inc. now owns 1,118,095 shares of the textile maker’s stock worth $128,022,000 after buying an additional 679,144 shares during the last quarter. Balyasny Asset Management LLC increased its stake in shares of PVH Corp. by 136.3% in the second quarter. Balyasny Asset Management LLC now owns 1,173,862 shares of the textile maker’s stock valued at $134,407,000 after buying an additional 677,096 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of PVH Corp. by 153.8% in the second quarter. Renaissance Technologies LLC now owns 761,670 shares of the textile maker’s stock valued at $87,211,000 after buying an additional 461,600 shares in the last quarter. Finally, Congress Asset Management Co. MA bought a new stake in shares of PVH Corp. during the second quarter valued at about $47,698,000. Institutional investors and hedge funds own 98.12% of the company’s stock.
About PVH Corp.
PVH Corp. is an apparel company. The Company operates through three segments: Calvin Klein, which consists of the Calvin Klein North America and Calvin Klein International segments; Tommy Hilfiger, which consists of the Tommy Hilfiger North America and Tommy Hilfiger International segments, and Heritage Brands, which consists of the Heritage Brands Wholesale and Heritage Brands Retail segments.
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