PVH (NYSE:PVH) Upgraded to Strong-Buy at StockNews.com

StockNews.com upgraded shares of PVH (NYSE:PVH) from a buy rating to a strong-buy rating in a report released on Friday.

A number of other research firms have also weighed in on PVH. Bank of America raised their target price on shares of PVH from $122.00 to $144.00 and gave the stock a buy rating in a research note on Thursday, June 6th. BMO Capital Markets boosted their price objective on PVH from $110.00 to $119.00 and gave the stock a market perform rating in a research note on Wednesday, June 5th. TD Cowen lifted their price target on PVH from $153.00 to $154.00 and gave the stock a buy rating in a report on Friday, June 7th. Wedbush reissued an outperform rating and issued a $128.00 price objective on shares of PVH in a report on Wednesday, June 5th. Finally, Evercore ISI lifted their target price on shares of PVH from $130.00 to $140.00 and gave the stock an outperform rating in a research note on Monday, June 3rd. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $133.81.

PVH Trading Up 2.2 %

Shares of NYSE:PVH opened at $114.37 on Friday. The firm has a market capitalization of $6.39 billion, a price-to-earnings ratio of 10.12, a price-to-earnings-growth ratio of 0.88 and a beta of 2.15. The business’s 50 day moving average price is $113.90 and its 200-day moving average price is $120.39. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.55 and a quick ratio of 0.83. PVH has a 1 year low of $69.27 and a 1 year high of $141.15.

PVH (NYSE:PVH) last announced its earnings results on Tuesday, June 4th. The textile maker reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.31. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.93 billion. PVH had a net margin of 7.53% and a return on equity of 13.14%. The company’s revenue for the quarter was down 9.5% compared to the same quarter last year. During the same quarter last year, the business earned $2.14 earnings per share. On average, equities research analysts forecast that PVH will post 11.26 earnings per share for the current fiscal year.

PVH Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Wednesday, June 5th will be issued a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date is Wednesday, June 5th. PVH’s dividend payout ratio (DPR) is currently 1.33%.

PVH declared that its Board of Directors has approved a stock buyback plan on Monday, April 1st that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the textile maker to reacquire up to 24% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, EVP James Holmes sold 3,000 shares of the stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $108.39, for a total value of $325,170.00. Following the sale, the executive vice president now directly owns 13,904 shares in the company, valued at $1,507,054.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.00% of the company’s stock.

Institutional Trading of PVH

Large investors have recently made changes to their positions in the company. New Covenant Trust Company N.A. acquired a new position in PVH during the 1st quarter worth approximately $26,000. Allspring Global Investments Holdings LLC grew its stake in shares of PVH by 2,600.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 270 shares of the textile maker’s stock worth $33,000 after purchasing an additional 260 shares in the last quarter. Global Retirement Partners LLC increased its holdings in PVH by 93.5% in the first quarter. Global Retirement Partners LLC now owns 238 shares of the textile maker’s stock valued at $33,000 after buying an additional 115 shares during the last quarter. Riverview Trust Co acquired a new stake in PVH in the first quarter valued at $36,000. Finally, Headlands Technologies LLC purchased a new stake in PVH during the 1st quarter worth about $36,000. 97.25% of the stock is currently owned by hedge funds and other institutional investors.

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.