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

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

According to Zacks, “PVH Corp. has outperformed the industry in the past year driven by its superb earnings history and brand strength. The company delivered robust earnings and sales results in third-quarter fiscal 2017. While this marked the company’s fifth straight sales beat, earnings topped estimates for the 14th consecutive quarter. Results continued to benefit from solid momentum at its premium Calvin Klein and Tommy Hilfiger brands. Consequently, the company provided a favorable view for the fourth quarter and raised earnings outlook for fiscal 2017. Further, its efforts to keep pace with the evolving consumer trends, efficient brand management and healthy cash flows bode well. However, concerns regarding the volatile macroeconomic and geopolitical environment remain. While currency rates are expected to improve in the fourth quarter, it is likely to hurt fiscal 2017 earnings by 17 cents per share.”

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A number of other research analysts have also weighed in on the stock. Wells Fargo raised their price target on shares of PVH from $158.00 to $165.00 and gave the company an “outperform” rating in a research report on Wednesday, January 3rd. Piper Jaffray set a $148.00 price target on shares of PVH and gave the company a “buy” rating in a research report on Monday, November 27th. Barclays set a $156.00 price target on shares of PVH and gave the company a “buy” rating in a research report on Saturday, December 2nd. Instinet initiated coverage on shares of PVH in a research report on Thursday, February 15th. They set a “neutral” rating and a $150.00 price target on the stock. Finally, JPMorgan Chase & Co. set a $160.00 price target on shares of PVH and gave the company a “buy” rating in a research report on Thursday, November 30th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. PVH presently has a consensus rating of “Buy” and a consensus price target of $153.33.

PVH (NYSE PVH) traded up $3.94 on Monday, hitting $143.80. 420,244 shares of the company were exchanged, compared to its average volume of 753,966. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.82 and a quick ratio of 0.97. PVH has a one year low of $96.85 and a one year high of $157.96. The company has a market capitalization of $10,759.34, a price-to-earnings ratio of 21.43, a P/E/G ratio of 1.20 and a beta of 0.71.

In other news, CEO Steven B. Shiffman sold 3,100 shares of the business’s stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $136.38, for a total value of $422,778.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Mark D. Fischer sold 891 shares of the business’s stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $147.34, for a total transaction of $131,279.94. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,091 shares of company stock worth $2,382,742. Insiders own 1.50% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cerebellum GP LLC bought a new stake in shares of PVH in the fourth quarter valued at approximately $131,000. Squar Milner Financial Services LLC bought a new stake in shares of PVH in the fourth quarter valued at approximately $212,000. Conning Inc. bought a new stake in shares of PVH in the fourth quarter valued at approximately $220,000. Everence Capital Management Inc. bought a new stake in shares of PVH in the fourth quarter valued at approximately $248,000. Finally, Visionary Asset Management Inc. bought a new stake in shares of PVH in the third quarter valued at approximately $266,000. 96.16% of the stock is currently owned by institutional investors.

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PVH Company Profile

PVH Corp. operates as an apparel company in the United States and internationally. The company operates through Calvin Klein North America, Calvin Klein International, Tommy Hilfiger North America, Tommy Hilfiger International, Heritage Brands Wholesale, and Heritage Brands Retail segments. It designs, markets, and retails men's and women's apparel and accessories, branded dress shirts, neckwear, sportswear, jeans wear, intimate apparel, swim products, handbags, footwear, golf apparel, fragrances, cosmetics, eyewear, socks, jewelry, watches, outerwear, small leather goods, and furnishings, as well as other related products.

Analyst Recommendations for PVH (NYSE:PVH)

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