PVH (NYSE:PVH) Lowered to Neutral at Bank of America

PVH (NYSE:PVH) was downgraded by stock analysts at Bank of America from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. They currently have a $107.00 price target on the textile maker’s stock, down from their prior price target of $130.00. Bank of America‘s price target indicates a potential upside of 12.77% from the company’s current price.

Other research analysts have also recently issued reports about the company. StockNews.com cut PVH from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 16th. Wells Fargo & Company dropped their price objective on shares of PVH from $145.00 to $130.00 and set an “overweight” rating on the stock in a report on Wednesday, August 28th. The Goldman Sachs Group reduced their target price on shares of PVH from $144.00 to $124.00 and set a “buy” rating for the company in a report on Thursday, August 29th. TD Cowen dropped their price target on shares of PVH from $149.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Finally, Barclays reduced their price objective on PVH from $154.00 to $142.00 and set an “overweight” rating for the company in a research note on Thursday, August 29th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $128.87.

PVH Stock Performance

Shares of PVH stock opened at $94.88 on Wednesday. The firm has a market capitalization of $5.30 billion, a PE ratio of 8.40, a P/E/G ratio of 0.77 and a beta of 2.11. The company has a 50 day moving average price of $97.68 and a 200-day moving average price of $108.24. PVH has a 52 week low of $69.27 and a 52 week high of $141.15. The company has a quick ratio of 0.66, a current ratio of 1.24 and a debt-to-equity ratio of 0.32.

PVH (NYSE:PVH) last announced its earnings results on Tuesday, August 27th. The textile maker reported $3.01 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.72. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.07 billion. PVH had a net margin of 8.37% and a return on equity of 13.94%. The company’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.98 EPS. As a group, equities research analysts expect that PVH will post 11.59 earnings per share for the current year.

Hedge Funds Weigh In On PVH

Several hedge funds have recently modified their holdings of PVH. KBC Group NV bought a new stake in PVH in the 4th quarter valued at $145,000. Pinebridge Investments L.P. purchased a new stake in shares of PVH in the fourth quarter worth about $684,000. Seven Eight Capital LP boosted its stake in PVH by 27.7% during the fourth quarter. Seven Eight Capital LP now owns 5,515 shares of the textile maker’s stock valued at $673,000 after buying an additional 1,195 shares during the last quarter. Quadrature Capital Ltd grew its holdings in PVH by 35.2% during the 4th quarter. Quadrature Capital Ltd now owns 7,421 shares of the textile maker’s stock valued at $907,000 after buying an additional 1,931 shares in the last quarter. Finally, CastleKnight Management LP bought a new stake in PVH in the 4th quarter worth approximately $1,392,000. Hedge funds and other institutional investors own 97.25% of the company’s stock.

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.