PVH (PVH) Hits New 12-Month Low After Analyst Downgrade

Shares of PVH Corp (NYSE:PVH) hit a new 52-week low during mid-day trading on Thursday after Deutsche Bank lowered their price target on the stock from $178.00 to $145.00. Deutsche Bank currently has a buy rating on the stock. PVH traded as low as $86.30 and last traded at $86.37, with a volume of 43503 shares changing hands. The stock had previously closed at $99.25.

PVH has been the topic of several other reports. ValuEngine upgraded shares of PVH from a “strong sell” rating to a “sell” rating in a report on Friday, March 29th. UBS Group upped their price target on shares of PVH from $145.00 to $159.00 and gave the company a “buy” rating in a report on Monday, April 1st. Zacks Investment Research downgraded shares of PVH from a “buy” rating to a “hold” rating in a report on Wednesday, March 13th. Wells Fargo & Co set a $140.00 price target on shares of PVH and gave the company an “outperform” rating in a report on Thursday, March 28th. Finally, Royal Bank of Canada upped their price target on shares of PVH to $145.00 and gave the company an “outperform” rating in a report on Friday, March 29th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. PVH presently has an average rating of “Buy” and a consensus target price of $138.21.

In other PVH news, CEO Francis K. Duane sold 6,171 shares of the company’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $127.27, for a total value of $785,383.17. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Dana Perlman sold 1,054 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $128.92, for a total transaction of $135,881.68. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of PVH during the fourth quarter valued at approximately $28,000. Everence Capital Management Inc. bought a new position in shares of PVH during the first quarter valued at approximately $455,000. Eagle Asset Management Inc. boosted its stake in shares of PVH by 2.0% during the first quarter. Eagle Asset Management Inc. now owns 43,018 shares of the textile maker’s stock valued at $5,246,000 after purchasing an additional 846 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of PVH by 175.6% during the fourth quarter. Deutsche Bank AG now owns 836,414 shares of the textile maker’s stock valued at $77,739,000 after purchasing an additional 532,927 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of PVH by 1.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 473,716 shares of the textile maker’s stock valued at $44,032,000 after purchasing an additional 5,474 shares in the last quarter. Hedge funds and other institutional investors own 94.98% of the company’s stock.

The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.80 and a current ratio of 1.71. The company has a market cap of $7.95 billion, a PE ratio of 8.80, a P/E/G ratio of 0.84 and a beta of 1.09.

PVH (NYSE:PVH) last posted 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 7.73% and a return on equity of 13.12%. The company had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.37 billion. During the same quarter in the prior year, the company posted $2.36 earnings per share. PVH’s revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, equities analysts expect that PVH Corp will post 10.43 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Wednesday, May 22nd will be given a dividend of $0.0375 per share. The ex-dividend date of this dividend is Tuesday, May 21st. This represents a $0.15 dividend on an annualized basis and a yield of 0.18%. PVH’s payout ratio is 1.56%.

PVH announced that its board has approved a share buyback plan on Wednesday, March 27th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the textile maker to reacquire up to 8.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

TRADEMARK VIOLATION NOTICE: This piece of content was first posted by Rockland Register and is the sole property of of Rockland Register. If you are viewing this piece of content on another publication, it was stolen and reposted in violation of United States & international copyright and trademark laws. The correct version of this piece of content can be read at https://rocklandregister.com/2019/05/31/pvh-pvh-hits-new-12-month-low-after-analyst-downgrade.html.

PVH Company Profile (NYSE: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.

See Also: Current Ratio

Receive News & Ratings for PVH Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PVH and related companies with MarketBeat.com's FREE daily email newsletter.