PVH (NYSE:PVH) had its price target hoisted by analysts at Piper Jaffray Companies from $140.00 to $146.00 in a report released on Thursday, March 28th, The Fly reports. The firm currently has an “overweight” rating on the textile maker’s stock. Piper Jaffray Companies’ target price would suggest a potential upside of 10.44% from the stock’s current price. Piper Jaffray Companies also issued estimates for PVH’s Q1 2020 earnings at $2.45 EPS, Q2 2020 earnings at $2.35 EPS, Q3 2020 earnings at $3.32 EPS, FY2020 earnings at $10.40 EPS, Q1 2021 earnings at $2.65 EPS, Q2 2021 earnings at $2.53 EPS, Q3 2021 earnings at $3.64 EPS and FY2021 earnings at $11.35 EPS.
A number of other equities research analysts have also issued reports on the stock. Wells Fargo & Co set a $140.00 target price on shares of PVH and gave the company an “outperform” rating in a research note on Thursday, March 28th. Zacks Investment Research lowered shares of PVH from a “hold” rating to a “sell” rating in a research note on Thursday, March 28th. Credit Suisse Group raised their price target on shares of PVH from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. JPMorgan Chase & Co. raised their price target on shares of PVH from $132.00 to $139.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Finally, ValuEngine downgraded shares of PVH from a “sell” rating to a “strong sell” rating in a report on Wednesday, March 20th. Two analysts have rated the stock with a sell rating, four have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. PVH presently has an average rating of “Buy” and a consensus target price of $146.40.
PVH stock traded down $0.13 during midday trading on Thursday, reaching $132.20. The stock had a trading volume of 1,048,010 shares, compared to its average volume of 1,463,106. PVH has a twelve month low of $86.46 and a twelve month high of $169.22. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.80 and a current ratio of 1.71. The firm has a market capitalization of $9.93 billion, a price-to-earnings ratio of 13.77, a P/E/G ratio of 1.05 and a beta of 1.08.
PVH declared that its board has initiated a stock repurchase program on Wednesday, March 27th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the textile maker to reacquire up to 8.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.
In other news, SVP Dana Perlman sold 1,054 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $128.92, for a total transaction of $135,881.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Francis K. Duane sold 6,171 shares of the business’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $127.27, for a total transaction of $785,383.17. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.
Several institutional investors have recently modified their holdings of PVH. JPMorgan Chase & Co. boosted its position in shares of PVH by 54.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,677,007 shares of the textile maker’s stock valued at $964,158,000 after acquiring an additional 2,356,377 shares in the last quarter. Norges Bank acquired a new stake in shares of PVH during the 4th quarter valued at about $76,331,000. Point72 Asset Management L.P. acquired a new stake in shares of PVH during the 3rd quarter valued at about $110,677,000. Deutsche Bank AG boosted its position in shares of PVH by 175.6% during the 4th quarter. Deutsche Bank AG now owns 836,414 shares of the textile maker’s stock valued at $77,739,000 after acquiring an additional 532,927 shares in the last quarter. Finally, FMR LLC boosted its position in PVH by 6.0% in the fourth quarter. FMR LLC now owns 6,756,096 shares of the textile maker’s stock valued at $627,978,000 after buying an additional 384,943 shares in the last quarter. Institutional investors and hedge funds own 96.14% of the company’s stock.
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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