PVH (NYSE:PVH) Price Target Raised to $150.00 at DA Davidson

PVH (NYSE:PVH) had its price objective upped by DA Davidson to $150.00 in a research report released on Friday, March 29th, The Fly reports. DA Davidson currently has a buy rating on the textile maker’s stock.

A number of other brokerages also recently issued reports on PVH. Citigroup lifted their price target on shares of PVH from $120.00 to $128.00 and gave the stock a neutral rating in a research note on Friday, March 29th. Royal Bank of Canada initiated coverage on shares of PVH in a research note on Wednesday, January 9th. They issued an outperform rating and a $122.00 price target for the company. ValuEngine upgraded shares of PVH from a strong sell rating to a sell rating in a research note on Friday, March 29th. Zacks Investment Research downgraded shares of PVH from a hold rating to a sell rating in a research note on Friday, March 22nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of PVH from $132.00 to $139.00 and gave the stock an overweight rating in a research note on Thursday, March 28th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $146.40.

Shares of NYSE PVH traded down $0.13 during midday trading on Friday, hitting $132.20. The company’s stock had a trading volume of 1,048,010 shares, compared to its average volume of 1,463,106. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.80 and a current ratio of 1.71. PVH has a 1 year low of $86.46 and a 1 year high of $169.22. The firm has a market cap of $9.93 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 1.05 and a beta of 1.08.

PVH (NYSE:PVH) last posted its quarterly earnings data on Wednesday, March 27th. The textile maker reported $1.84 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.76 by $0.08. PVH had a net margin of 7.73% and a return on equity of 13.12%. The business had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same quarter last year, the firm posted $1.58 earnings per share. The business’s revenue for the quarter was down .6% compared to the same quarter last year. Equities analysts predict that PVH will post 10.44 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, February 28th were issued a $0.0375 dividend. The ex-dividend date of this dividend was Wednesday, February 27th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.11%. PVH’s payout ratio is 1.56%.

PVH declared that its Board of Directors has approved a share repurchase plan on Wednesday, March 27th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the textile maker to purchase up to 8.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

In other news, CEO Francis K. Duane sold 6,171 shares of PVH stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $127.27, for a total value of $785,383.17. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Dana Perlman sold 1,054 shares of PVH stock in a transaction on Monday, April 15th. The shares were sold at an average price of $128.92, for a total transaction of $135,881.68. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. FNY Investment Advisers LLC acquired a new position in PVH in the 1st quarter valued at $365,000. Meeder Asset Management Inc. increased its stake in PVH by 9.6% in the 1st quarter. Meeder Asset Management Inc. now owns 7,401 shares of the textile maker’s stock valued at $903,000 after buying an additional 651 shares during the period. Ropes Wealth Advisors LLC acquired a new position in PVH in the 1st quarter valued at $40,000. Virtu Financial LLC increased its stake in PVH by 177.8% in the 1st quarter. Virtu Financial LLC now owns 11,378 shares of the textile maker’s stock valued at $1,388,000 after buying an additional 7,282 shares during the period. Finally, Mercer Global Advisors Inc. ADV acquired a new position in PVH in the 1st quarter valued at $202,000. 96.14% of the stock is currently owned by institutional investors.

About PVH

PVH Corp. operates as an apparel company in North America and internationally. The company operates through six segments: Calvin Klein North America, Calvin Klein International, Tommy Hilfiger North America, Tommy Hilfiger International, Heritage Brands Wholesale, and Heritage Brands Retail. It designs, markets, and retails men's and women's apparel and accessories, including branded dress shirts, dresses, suits, neckwear, sportswear, jeans wear, performance and intimate apparel, underwear, swimwear, swim products, handbags, luggage products, footwear, golf apparel, sleepwear and loungewear, fragrances, cosmetics, skincare products and toiletries, socks and tights, jewelry, watches, outerwear, small leather goods, and furnishings, as well as other related products.

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