Wells Fargo & Company Has Lowered Expectations for PVH (NYSE:PVH) Stock Price

PVH (NYSE:PVH) had its target price cut by equities research analysts at Wells Fargo & Company from $100.00 to $80.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the textile maker’s stock. Wells Fargo & Company‘s target price indicates a potential downside of 1.04% from the stock’s previous close.

PVH has been the topic of a number of other reports. Barclays cut their price objective on PVH from $103.00 to $87.00 and set an “overweight” rating on the stock in a research note on Monday, April 28th. JPMorgan Chase & Co. boosted their price objective on shares of PVH from $87.00 to $99.00 and gave the stock a “neutral” rating in a report on Monday, May 19th. UBS Group upped their target price on PVH from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, May 28th. Needham & Company LLC restated a “buy” rating and set a $115.00 price target on shares of PVH in a research note on Thursday. Finally, Wall Street Zen upgraded shares of PVH from a “hold” rating to a “buy” rating in a research note on Friday, May 30th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $105.13.

PVH Trading Down 2.1%

Shares of PVH opened at $80.84 on Thursday. The business’s 50-day moving average price is $74.86 and its 200 day moving average price is $85.01. The stock has a market capitalization of $3.88 billion, a P/E ratio of 6.58, a P/E/G ratio of 0.77 and a beta of 1.89. The company has a current ratio of 1.29, a quick ratio of 0.69 and a debt-to-equity ratio of 0.31. PVH has a 1-year low of $59.28 and a 1-year high of $124.68.

PVH (NYSE:PVH) last issued its quarterly earnings results on Wednesday, June 4th. The textile maker reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.24 by $0.06. The business had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.93 billion. PVH had a return on equity of 13.66% and a net margin of 8.13%. PVH’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.45 earnings per share. Analysts expect that PVH will post 11.67 earnings per share for the current year.

Institutional Investors Weigh In On PVH

Hedge funds and other institutional investors have recently bought and sold shares of the company. Pzena Investment Management LLC increased its stake in PVH by 15.1% in the 1st quarter. Pzena Investment Management LLC now owns 6,161,567 shares of the textile maker’s stock valued at $398,284,000 after buying an additional 807,301 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of PVH by 179,164.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 760,080 shares of the textile maker’s stock valued at $79,705,000 after buying an additional 759,656 shares during the last quarter. Balyasny Asset Management L.P. bought a new position in PVH during the fourth quarter worth $53,373,000. Schroder Investment Management Group bought a new stake in shares of PVH during the 4th quarter worth about $38,035,000. Finally, American Century Companies Inc. grew its position in shares of PVH by 76.6% in the first quarter. American Century Companies Inc. now owns 803,400 shares of the textile maker’s stock valued at $51,932,000 after purchasing an additional 348,592 shares during the last quarter. Institutional investors and hedge funds own 97.25% of the company’s stock.

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.