PVH Corp. (PVH) Downgraded to “Hold” at Zacks Investment Research

PVH Corp. (NYSE:PVH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.

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.”

Other analysts have also recently issued research reports about the stock. ValuEngine upgraded shares of PVH Corp. from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. UBS AG reiterated a “buy” rating and issued a $128.00 price target (up previously from $120.00) on shares of PVH Corp. in a research note on Monday, June 26th. Piper Jaffray Companies set a $120.00 price target on shares of PVH Corp. and gave the company a “buy” rating in a research note on Thursday, May 25th. B. Riley reiterated a “buy” rating and issued a $128.00 price target on shares of PVH Corp. in a research note on Tuesday, May 30th. Finally, Citigroup Inc. increased their price target on shares of PVH Corp. from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, May 30th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $137.31.

PVH Corp. (NYSE PVH) traded down 0.66% on Tuesday, hitting $128.74. 294,512 shares of the stock were exchanged. The company has a 50 day moving average of $123.15 and a 200 day moving average of $107.77. The stock has a market capitalization of $10.02 billion, a P/E ratio of 24.55 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 announced its earnings results on Wednesday, August 23rd. The textile maker reported $1.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.65 by $0.04. PVH Corp. had a net margin of 4.96% and a return on equity of 11.67%. The business had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter in the prior year, the company posted $1.47 earnings per share. The firm’s revenue was up 7.1% on a year-over-year basis. On average, equities research analysts forecast that PVH Corp. will post $7.71 earnings per share for the current fiscal year.

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In related news, EVP Mark D. Fischer sold 5,589 shares of PVH Corp. stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $128.47, for a total transaction of $718,018.83. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Steven B. Shiffman sold 2,200 shares of PVH Corp. stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $105.82, for a total transaction of $232,804.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,950 shares of company stock worth $10,601,025. 1.50% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. Advisors Asset Management Inc. boosted its position in PVH Corp. by 28.2% during the 2nd quarter. Advisors Asset Management Inc. now owns 927 shares of the textile maker’s stock worth $106,000 after buying an additional 204 shares during the period. FNY Partners Fund LP boosted its position in PVH Corp. by 53.3% during the 1st quarter. FNY Partners Fund LP now owns 1,150 shares of the textile maker’s stock worth $118,000 after buying an additional 400 shares during the period. Fiduciary Trust Co. acquired a new stake in PVH Corp. during the 2nd quarter worth approximately $138,000. Penserra Capital Management LLC boosted its position in PVH Corp. by 9.5% during the 1st quarter. Penserra Capital Management LLC now owns 1,334 shares of the textile maker’s stock worth $138,000 after buying an additional 116 shares during the period. Finally, NINE MASTS CAPITAL Ltd acquired a new stake in PVH Corp. during the 1st quarter worth approximately $155,000. Institutional investors and hedge funds own 95.24% 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.

Analyst Recommendations for PVH Corp. (NYSE:PVH)

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