BMO Capital Markets Increases PVH (NYSE:PVH) Price Target to $119.00

PVH (NYSE:PVH) had its price target hoisted by BMO Capital Markets from $110.00 to $119.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “market perform” rating on the textile maker’s stock. BMO Capital Markets’ target price would indicate a potential downside of 1.36% from the stock’s previous close.

PVH has been the topic of several other reports. Jefferies Financial Group started coverage on shares of PVH in a research report on Tuesday, April 30th. They set a “hold” rating and a $115.00 target price on the stock. Guggenheim lifted their price target on shares of PVH from $120.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. JPMorgan Chase & Co. lifted their price target on shares of PVH from $146.00 to $157.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Barclays cut their price target on shares of PVH from $157.00 to $149.00 and set an “overweight” rating for the company in a report on Thursday, April 4th. Finally, UBS Group boosted their target price on shares of PVH from $158.00 to $159.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.44.

PVH Stock Performance

NYSE PVH traded up $1.43 during midday trading on Wednesday, hitting $120.64. The company had a trading volume of 385,410 shares, compared to its average volume of 904,116. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.31. The firm has a fifty day simple moving average of $114.30 and a two-hundred day simple moving average of $118.50. PVH has a fifty-two week low of $69.27 and a fifty-two week high of $141.15. The stock has a market cap of $6.83 billion, a price-to-earnings ratio of 11.23, a P/E/G ratio of 1.17 and a beta of 2.15.

PVH (NYSE:PVH) last issued its earnings results on Tuesday, June 4th. The textile maker reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.31. PVH had a net margin of 7.20% and a return on equity of 12.96%. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same period in the previous year, the business earned $2.14 EPS. The firm’s revenue was down 9.5% on a year-over-year basis. Equities analysts forecast that PVH will post 10.92 earnings per share for the current fiscal year.

PVH declared that its Board of Directors has approved a stock buyback program on Monday, April 1st that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the textile maker to reacquire up to 24% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, EVP James Holmes sold 3,000 shares of the stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $108.39, for a total transaction of $325,170.00. Following the completion of the transaction, the executive vice president now owns 13,904 shares in the company, valued at $1,507,054.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PVH. New Covenant Trust Company N.A. bought a new stake in PVH during the first quarter worth $26,000. Allspring Global Investments Holdings LLC raised its position in PVH by 2,600.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 270 shares of the textile maker’s stock worth $33,000 after acquiring an additional 260 shares in the last quarter. Global Retirement Partners LLC raised its position in PVH by 93.5% during the first quarter. Global Retirement Partners LLC now owns 238 shares of the textile maker’s stock worth $33,000 after acquiring an additional 115 shares in the last quarter. Riverview Trust Co bought a new stake in PVH during the first quarter worth $36,000. Finally, Headlands Technologies LLC bought a new stake in PVH during the first quarter worth $36,000. Institutional investors and hedge funds own 97.25% of the company’s stock.

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.