PVH (NYSE:PVH) Shares Gap Down Following Analyst Downgrade

PVH Corp. (NYSE:PVH)’s stock price gapped down before the market opened on Wednesday after Wells Fargo & Company lowered their price target on the stock from $145.00 to $130.00. The stock had previously closed at $104.46, but opened at $96.00. Wells Fargo & Company currently has an overweight rating on the stock. PVH shares last traded at $96.79, with a volume of 431,469 shares.

PVH has been the topic of a number of other reports. Evercore ISI increased their target price on shares of PVH from $130.00 to $140.00 and gave the stock an “outperform” rating in a report on Monday, June 3rd. BMO Capital Markets dropped their target price on shares of PVH from $119.00 to $106.00 and set a “market perform” rating on the stock in a report on Wednesday. Bank of America dropped their target price on shares of PVH from $144.00 to $133.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Morgan Stanley increased their price objective on shares of PVH from $110.00 to $120.00 and gave the stock an “equal weight” rating in a report on Thursday, June 6th. Finally, TD Cowen dropped their price objective on shares of PVH from $154.00 to $149.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $131.06.

Hedge Funds Weigh In On PVH

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Blair William & Co. IL grew its position in PVH by 2.9% in the 1st quarter. Blair William & Co. IL now owns 3,311 shares of the textile maker’s stock valued at $466,000 after buying an additional 92 shares in the last quarter. State of Michigan Retirement System boosted its position in shares of PVH by 0.7% during the 1st quarter. State of Michigan Retirement System now owns 14,600 shares of the textile maker’s stock valued at $2,053,000 after purchasing an additional 100 shares in the last quarter. Signaturefd LLC boosted its position in shares of PVH by 6.7% during the 2nd quarter. Signaturefd LLC now owns 1,713 shares of the textile maker’s stock valued at $181,000 after purchasing an additional 107 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in shares of PVH by 4.5% during the 2nd quarter. Commonwealth Equity Services LLC now owns 2,495 shares of the textile maker’s stock valued at $264,000 after purchasing an additional 108 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its position in shares of PVH by 15.7% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 810 shares of the textile maker’s stock valued at $99,000 after purchasing an additional 110 shares in the last quarter. Institutional investors own 97.25% of the company’s stock.

PVH Stock Performance

The company has a current ratio of 1.55, a quick ratio of 0.83 and a debt-to-equity ratio of 0.42. The company’s 50-day moving average price is $102.45 and its two-hundred day moving average price is $114.67. The company has a market cap of $5.46 billion, a P/E ratio of 8.65, a price-to-earnings-growth ratio of 0.77 and a beta of 2.14.

PVH (NYSE:PVH) last posted its quarterly earnings data on Tuesday, August 27th. The textile maker reported $3.01 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.72. PVH had a net margin of 7.53% and a return on equity of 13.14%. The company had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same quarter last year, the firm posted $1.98 EPS. The business’s revenue for the quarter was down 6.0% on a year-over-year basis. As a group, equities analysts forecast that PVH Corp. will post 11.23 earnings per share for the current year.

PVH Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be issued a $0.0375 dividend. This represents a $0.15 annualized dividend and a dividend yield of 0.15%. The ex-dividend date of this dividend is Wednesday, September 4th. PVH’s payout ratio is 1.33%.

PVH Company Profile

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.