PVH Corp. (NYSE:PVH) Raised to Buy at Zacks Investment Research

PVH Corp. (NYSE:PVH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday, September 14th. The firm presently has a $143.00 price objective on the textile maker’s stock. Zacks Investment Research‘s target price suggests a potential upside of 12.60% from the company’s current price.

According to Zacks, “PVH Corp. has outperformed the industry year to date driven by its superb earnings history and brand strength. The company posted better-than-expected earnings and sales results for second-quarter fiscal 2017. While sales marked its fourth consecutive beat, earnings retained its positive surprise trend for the 13th straight time. Results continued to gain from solid momentum at its Calvin Klein and Tommy Hilfiger brands, particularly in the international regions. Further, the company raised earnings outlook for fiscal 2017. However, concerns regarding the volatile macroeconomic and geopolitical environment remain. While currency rates improved in second quarter, currency headwinds are expected to hurt fiscal 2017 earnings by 20 cents per share. Apart from this, a volatile retail scenario and greater marketing costs may hurt performance. Nonetheless, the company’s efforts to keep pace with the evolving consumer trends bode well.”

A number of other brokerages have also commented on PVH. J P Morgan Chase & Co upgraded shares of PVH Corp. from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $116.00 to $125.00 in a research note on Thursday, May 25th. Credit Suisse Group upgraded shares of PVH Corp. from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $114.00 to $136.00 in a research report on Tuesday, May 30th. BidaskClub raised shares of PVH Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. Piper Jaffray Companies set a $120.00 target price on shares of PVH Corp. and gave the company a “buy” rating in a research note on Wednesday, June 14th. Finally, Citigroup Inc. raised their price target on PVH Corp. from $125.00 to $148.00 and gave the stock a “neutral” rating in a research note on Friday, August 25th. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. PVH Corp. has a consensus rating of “Buy” and a consensus price target of $139.19.

Shares of PVH Corp. (NYSE:PVH) opened at 127.00 on Thursday. The stock has a 50 day moving average of $125.84 and a 200-day moving average of $111.76. The company has a market capitalization of $9.83 billion, a PE ratio of 24.22 and a beta of 0.46. PVH Corp. has a one year low of $84.53 and a one year high of $130.75.

PVH Corp. (NYSE:PVH) last posted its earnings results on Wednesday, August 23rd. The textile maker reported $1.69 EPS for the quarter, topping the Zacks’ consensus estimate of $1.65 by $0.04. PVH Corp. had a return on equity of 11.67% and a net margin of 4.96%. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same quarter last year, the company earned $1.47 EPS. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, equities analysts forecast that PVH Corp. will post $7.71 earnings per share for the current fiscal year.

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In other PVH Corp. news, SVP James Holmes sold 851 shares of the company’s stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $126.99, for a total value of $108,068.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Michael A. Shaffer sold 45,525 shares of the stock in a transaction that occurred on Thursday, July 6th. The shares were sold at an average price of $111.37, for a total transaction of $5,070,119.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 84,832 shares of company stock valued at $10,050,906. Corporate insiders own 1.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of PVH Corp. by 8.7% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 180,903 shares of the textile maker’s stock valued at $20,713,000 after purchasing an additional 14,434 shares during the last quarter. TIAA CREF Investment Management LLC grew its position in shares of PVH Corp. by 8.7% during the second quarter. TIAA CREF Investment Management LLC now owns 491,022 shares of the textile maker’s stock valued at $56,222,000 after purchasing an additional 39,164 shares in the last quarter. Quantitative Systematic Strategies LLC increased its holdings in shares of PVH Corp. by 47.2% in the second quarter. Quantitative Systematic Strategies LLC now owns 24,810 shares of the textile maker’s stock worth $2,823,000 after purchasing an additional 7,961 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in shares of PVH Corp. by 19.9% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 19,512 shares of the textile maker’s stock worth $2,234,000 after buying an additional 3,232 shares in the last quarter. Finally, Prudential Financial Inc. lifted its position in shares of PVH Corp. by 3.2% in the first quarter. Prudential Financial Inc. now owns 438,951 shares of the textile maker’s stock worth $45,419,000 after buying an additional 13,671 shares in the last quarter. Institutional investors own 95.32% of the company’s stock.

About PVH Corp.

PVH Corp. is an apparel company. The Company operates through three segments: Calvin Klein, which consists of the Calvin Klein North America and Calvin Klein International segments; Tommy Hilfiger, which consists of the Tommy Hilfiger North America and Tommy Hilfiger International segments, and Heritage Brands, which consists of the Heritage Brands Wholesale and Heritage Brands Retail segments.

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