The Goldman Sachs Group Lowers PVH (NYSE:PVH) Price Target to $124.00

PVH (NYSE:PVH) had its price target lowered by investment analysts at The Goldman Sachs Group from $144.00 to $124.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the textile maker’s stock. The Goldman Sachs Group’s price target would suggest a potential upside of 29.29% from the stock’s previous close.

A number of other brokerages also recently commented on PVH. Telsey Advisory Group cut their price objective on shares of PVH from $140.00 to $130.00 and set an “outperform” rating for the company in a research report on Thursday. StockNews.com cut shares of PVH from a “strong-buy” rating to a “buy” rating in a report on Friday, August 16th. Morgan Stanley lifted their price objective on PVH from $110.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday, June 6th. BMO Capital Markets cut their target price on PVH from $119.00 to $106.00 and set a “market perform” rating for the company in a research note on Wednesday. Finally, Bank of America decreased their price target on PVH from $133.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $129.38.

PVH Stock Performance

Shares of PVH traded down $1.84 during mid-day trading on Thursday, hitting $95.91. 74,155 shares of the company’s stock were exchanged, compared to its average volume of 877,691. The firm has a market capitalization of $5.36 billion, a P/E ratio of 8.49, a P/E/G ratio of 0.77 and a beta of 2.14. PVH has a fifty-two week low of $69.27 and a fifty-two week high of $141.15. The business’s 50 day moving average is $102.45 and its two-hundred day moving average is $114.67. The company has a current ratio of 1.55, a quick ratio of 0.83 and a debt-to-equity ratio of 0.42.

PVH (NYSE:PVH) last posted its quarterly earnings data 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. The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.07 billion. PVH had a return on equity of 13.14% and a net margin of 7.53%. The firm’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same period last year, the firm earned $1.98 EPS. On average, equities analysts expect that PVH will post 11.23 earnings per share for the current year.

Hedge Funds Weigh In On PVH

Hedge funds have recently added to or reduced their stakes in the business. Pacer Advisors Inc. grew its position in shares of PVH by 13,275.0% in the second quarter. Pacer Advisors Inc. now owns 1,222,207 shares of the textile maker’s stock valued at $129,395,000 after purchasing an additional 1,213,069 shares during the last quarter. Principal Financial Group Inc. lifted its stake in PVH by 234.1% in the 1st quarter. Principal Financial Group Inc. now owns 741,151 shares of the textile maker’s stock valued at $104,213,000 after buying an additional 519,316 shares in the last quarter. Channing Capital Management LLC grew its holdings in PVH by 648.1% during the 4th quarter. Channing Capital Management LLC now owns 581,289 shares of the textile maker’s stock valued at $70,987,000 after buying an additional 503,586 shares during the last quarter. Franklin Resources Inc. increased its position in PVH by 1,954.3% during the fourth quarter. Franklin Resources Inc. now owns 352,448 shares of the textile maker’s stock worth $43,041,000 after buying an additional 335,291 shares in the last quarter. Finally, Balyasny Asset Management L.P. raised its holdings in shares of PVH by 711.4% in the fourth quarter. Balyasny Asset Management L.P. now owns 341,506 shares of the textile maker’s stock worth $41,705,000 after acquiring an additional 299,418 shares during the last quarter. 97.25% of the stock is currently owned by hedge funds and other institutional investors.

PVH Company Profile

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.