PVH (NYSE:PVH) Shares Gap Down After Analyst Downgrade

PVH Corp. (NYSE:PVHGet Free Report) gapped down before the market opened on Tuesday after Citigroup lowered their price target on the stock from $139.00 to $120.00. The stock had previously closed at $139.73, but opened at $111.50. Citigroup currently has a neutral rating on the stock. PVH shares last traded at $106.10, with a volume of 1,099,995 shares traded.

A number of other equities analysts have also weighed in on the stock. Wells Fargo & Company decreased their price target on shares of PVH from $150.00 to $138.00 and set an “overweight” rating on the stock in a report on Tuesday. Morgan Stanley decreased their price target on shares of PVH from $134.00 to $110.00 and set an “equal weight” rating on the stock in a report on Wednesday. Bank of America decreased their price target on shares of PVH from $156.00 to $122.00 and set a “buy” rating on the stock in a report on Wednesday. The Goldman Sachs Group upgraded shares of PVH from a “neutral” rating to a “buy” rating and lifted their price target for the company from $99.00 to $126.00 in a report on Tuesday, December 12th. Finally, Telsey Advisory Group cut their target price on shares of PVH from $155.00 to $140.00 and set an “outperform” rating on the stock in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, PVH currently has an average rating of “Moderate Buy” and a consensus price target of $123.73.

View Our Latest Research Report on PVH

Insider Buying and Selling

In related news, EVP Mark D. Fischer sold 3,500 shares of PVH stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $123.00, for a total transaction of $430,500.00. Following the sale, the executive vice president now owns 27,903 shares of the company’s stock, valued at approximately $3,432,069. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.78% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PVH

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Lindbrook Capital LLC lifted its position in shares of PVH by 26.8% during the fourth quarter. Lindbrook Capital LLC now owns 521 shares of the textile maker’s stock worth $64,000 after purchasing an additional 110 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in PVH by 15.7% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 810 shares of the textile maker’s stock worth $99,000 after buying an additional 110 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in PVH by 12.5% during the 4th quarter. Quadrant Capital Group LLC now owns 1,036 shares of the textile maker’s stock worth $127,000 after buying an additional 115 shares during the last quarter. Creative Planning lifted its holdings in PVH by 2.6% during the 3rd quarter. Creative Planning now owns 5,074 shares of the textile maker’s stock worth $388,000 after buying an additional 128 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in PVH by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 27,389 shares of the textile maker’s stock worth $2,096,000 after buying an additional 140 shares during the last quarter. Institutional investors own 97.25% of the company’s stock.

PVH Trading Down 2.9 %

The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.66 and a current ratio of 1.18. The business has a fifty day simple moving average of $130.42 and a 200 day simple moving average of $106.86. The company has a market cap of $6.29 billion, a P/E ratio of 12.44, a P/E/G ratio of 0.74 and a beta of 2.20.

PVH (NYSE:PVHGet Free Report) last released its earnings results on Tuesday, April 2nd. The textile maker reported $3.72 EPS for the quarter, topping analysts’ consensus estimates of $3.51 by $0.21. PVH had a return on equity of 12.99% and a net margin of 7.20%. The company had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same quarter last year, the business posted $2.38 EPS. PVH’s quarterly revenue was up .0% compared to the same quarter last year. Analysts anticipate that PVH Corp. will post 11.95 earnings per share for the current fiscal year.

PVH Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 6th were issued a $0.0375 dividend. This represents a $0.15 annualized dividend and a dividend yield of 0.14%. The ex-dividend date was Tuesday, March 5th. PVH’s dividend payout ratio (DPR) is 1.77%.

PVH announced that its Board of Directors has initiated a stock repurchase program on Monday, April 1st that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the textile maker to reacquire up to 24% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

About PVH

(Get Free Report)

PVH Corp. operates as an apparel company in the United States and internationally. The company operates through six segments: Tommy Hilfiger North America, Tommy Hilfiger International, Calvin Klein North America, Calvin Klein International, Heritage Brands Wholesale, and Heritage Brands Retail. It designs, markets, and retails men's, women's, and children's apparel and accessories, include branded dress shirts, neckwear, sportswear, jeans wear, performance apparel, intimate apparel, underwear, swimwear, swim-related products, handbags, accessories, footwear, outerwear, home furnishings, luggage products, sleepwear, loungewear, hats, scarves, gloves, socks, watches and jewelry, eyeglasses and non-ophthalmic sunglasses, fragrance, home bed and bath furnishings, small leather goods, and other products.

Featured Stories

Receive News & Ratings for PVH Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PVH and related companies with MarketBeat.com's FREE daily email newsletter.