PVH (NYSE:PVH) Rating Lowered to Neutral at Bank of America

PVH (NYSE:PVH) was downgraded by equities research analysts at Bank of America from a “buy” rating to a “neutral” rating in a report issued on Wednesday, Marketbeat.com reports. They currently have a $107.00 price target on the textile maker’s stock, down from their previous price target of $130.00. Bank of America‘s price target would suggest a potential upside of 12.77% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. StockNews.com cut shares of PVH from a “strong-buy” rating to a “buy” rating in a report on Friday, August 16th. Barclays cut their target price on shares of PVH from $154.00 to $142.00 and set an “overweight” rating on the stock in a research note on Thursday, August 29th. Wedbush restated an “outperform” rating and issued a $128.00 price objective on shares of PVH in a report on Wednesday, June 5th. BMO Capital Markets cut their price objective on PVH from $119.00 to $106.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 28th. Finally, TD Cowen decreased their target price on PVH from $149.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, PVH currently has an average rating of “Moderate Buy” and a consensus target price of $128.87.

PVH Stock Performance

NYSE:PVH opened at $94.88 on Wednesday. The business has a 50 day moving average price of $97.68 and a 200-day moving average price of $108.24. PVH has a fifty-two week low of $69.27 and a fifty-two week high of $141.15. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.66 and a current ratio of 1.24. The firm has a market cap of $5.30 billion, a PE ratio of 8.40, a price-to-earnings-growth ratio of 0.77 and a beta of 2.11.

PVH (NYSE:PVH) last posted its earnings results on Tuesday, August 27th. The textile maker reported $3.01 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.72. PVH had a net margin of 8.37% and a return on equity of 13.94%. The company had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same period in the prior year, the business posted $1.98 earnings per share. PVH’s revenue for the quarter was down 6.0% on a year-over-year basis. Equities research analysts predict that PVH will post 11.59 earnings per share for the current year.

Hedge Funds Weigh In On PVH

Several institutional investors and hedge funds have recently modified their holdings of PVH. Altshuler Shaham Ltd bought a new position in PVH in the 2nd quarter worth about $25,000. New Covenant Trust Company N.A. purchased a new position in PVH in the first quarter worth about $26,000. Riverview Trust Co bought a new position in shares of PVH in the first quarter worth approximately $36,000. Headlands Technologies LLC purchased a new stake in shares of PVH during the first quarter valued at approximately $36,000. Finally, Daiwa Securities Group Inc. bought a new stake in shares of PVH during the first quarter valued at approximately $42,000. 97.25% of the stock is currently owned by institutional investors.

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.