BMO Capital Markets Lowers PVH (NYSE:PVH) Price Target to $93.00

PVH (NYSE:PVH - Get Free Report) had its target price decreased by investment analysts at BMO Capital Markets from $106.00 to $93.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "market perform" rating on the textile maker's stock. BMO Capital Markets' target price indicates a potential upside of 37.56% from the company's previous close.

Several other analysts also recently issued reports on the stock. Wells Fargo & Company downgraded shares of PVH from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $130.00 to $105.00 in a report on Monday, February 3rd. Guggenheim increased their target price on PVH from $105.00 to $125.00 and gave the company a "buy" rating in a report on Friday, December 6th. UBS Group cut their price target on PVH from $172.00 to $160.00 and set a "buy" rating for the company in a report on Wednesday, March 19th. Telsey Advisory Group reiterated an "outperform" rating and set a $90.00 price objective on shares of PVH in a research report on Tuesday. Finally, Morgan Stanley reduced their target price on shares of PVH from $103.00 to $95.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 21st. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $107.40.

Remove Ads

PVH Price Performance

PVH traded up $2.00 on Tuesday, hitting $67.61. 3,293,623 shares of the company were exchanged, compared to its average volume of 928,664. PVH has a fifty-two week low of $61.59 and a fifty-two week high of $124.68. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.69 and a current ratio of 1.29. The firm has a market capitalization of $3.76 billion, a P/E ratio of 5.51, a price-to-earnings-growth ratio of 0.77 and a beta of 1.89. The business's fifty day moving average is $74.52 and its 200 day moving average is $92.10.

PVH (NYSE:PVH - Get Free Report) last issued its quarterly earnings data on Monday, March 31st. The textile maker reported $3.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.19 by $0.08. PVH had a return on equity of 13.66% and a net margin of 8.13%. The firm had revenue of $2.37 billion during the quarter, compared to analysts' expectations of $2.34 billion. During the same period in the previous year, the firm posted $3.72 earnings per share. PVH's revenue was down 4.8% on a year-over-year basis. As a group, sell-side analysts anticipate that PVH will post 11.67 EPS for the current year.

Hedge Funds Weigh In On PVH

Hedge funds and other institutional investors have recently modified their holdings of the company. UMB Bank n.a. raised its holdings in PVH by 78.5% in the fourth quarter. UMB Bank n.a. now owns 282 shares of the textile maker's stock valued at $30,000 after buying an additional 124 shares during the period. GAMMA Investing LLC lifted its holdings in shares of PVH by 36.0% during the 4th quarter. GAMMA Investing LLC now owns 487 shares of the textile maker's stock valued at $52,000 after acquiring an additional 129 shares in the last quarter. Treasurer of the State of North Carolina boosted its position in PVH by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 24,386 shares of the textile maker's stock worth $2,579,000 after purchasing an additional 150 shares during the period. Envestnet Asset Management Inc. increased its holdings in PVH by 0.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 30,711 shares of the textile maker's stock valued at $3,248,000 after purchasing an additional 152 shares in the last quarter. Finally, Assetmark Inc. raised its position in PVH by 11.8% in the fourth quarter. Assetmark Inc. now owns 1,451 shares of the textile maker's stock valued at $153,000 after purchasing an additional 153 shares during the period. 97.25% of the stock is owned by institutional investors and hedge funds.

About PVH

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.