PVH (NYSE:PVH) Raised to “Buy” at Jefferies Financial Group

PVH (NYSE:PVH) was upgraded by equities researchers at Jefferies Financial Group from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a $105.00 target price on the textile maker’s stock, up from their previous target price of $70.00. Jefferies Financial Group’s target price would indicate a potential upside of 30.40% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. StockNews.com cut shares of PVH from a “buy” rating to a “hold” rating in a research note on Friday, April 18th. BMO Capital Markets lowered their price objective on PVH from $106.00 to $93.00 and set a “market perform” rating for the company in a research report on Tuesday, April 1st. JPMorgan Chase & Co. reduced their target price on PVH from $91.00 to $87.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Evercore ISI lowered their price target on PVH from $139.00 to $105.00 and set an “outperform” rating for the company in a report on Tuesday, April 1st. Finally, Wells Fargo & Company cut their price objective on shares of PVH from $95.00 to $85.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 30th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $104.67.

PVH Stock Up 2.0%

Shares of NYSE:PVH opened at $80.52 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $4.24 billion, a P/E ratio of 6.56, a P/E/G ratio of 0.77 and a beta of 1.81. PVH has a 52-week low of $59.28 and a 52-week high of $124.68. The stock’s fifty day simple moving average is $69.18 and its 200-day simple moving average is $86.77.

PVH (NYSE:PVH) last released its earnings results on Monday, March 31st. The textile maker reported $3.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.19 by $0.08. The company had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.34 billion. PVH had a net margin of 8.13% and a return on equity of 13.66%. The firm’s quarterly revenue was down 4.8% on a year-over-year basis. During the same period in the prior year, the firm earned $3.72 EPS. As a group, equities research analysts forecast that PVH will post 11.67 earnings per share for the current fiscal year.

Institutional Trading of PVH

A number of hedge funds have recently made changes to their positions in PVH. Pzena Investment Management LLC grew its position in shares of PVH by 15.1% in the 1st quarter. Pzena Investment Management LLC now owns 6,161,567 shares of the textile maker’s stock worth $398,284,000 after acquiring an additional 807,301 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in PVH by 179,164.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 760,080 shares of the textile maker’s stock worth $79,705,000 after purchasing an additional 759,656 shares during the period. Balyasny Asset Management L.P. bought a new stake in PVH during the fourth quarter valued at $53,373,000. Schroder Investment Management Group acquired a new stake in shares of PVH during the fourth quarter worth $38,035,000. Finally, American Century Companies Inc. boosted its holdings in shares of PVH by 76.6% in the 1st quarter. American Century Companies Inc. now owns 803,400 shares of the textile maker’s stock valued at $51,932,000 after buying an additional 348,592 shares during the period. Institutional investors and hedge funds own 97.25% of the company’s stock.

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.