PVH (NYSE:PVH) Downgraded to Sell at Goldman Sachs Group

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PVH (NYSE:PVH) was downgraded by stock analysts at Goldman Sachs Group from a “neutral” rating to a “sell” rating in a research note issued on Wednesday, MarketBeat Ratings reports. They currently have a $82.00 target price on the textile maker’s stock, down from their prior target price of $101.00. Goldman Sachs Group’s target price indicates a potential downside of 6.68% from the stock’s current price.

A number of other research firms have also recently weighed in on PVH. Zacks Investment Research cut shares of First Merchants from a “hold” rating to a “sell” rating in a report on Monday, July 1st. Morgan Stanley lowered their target price on shares of Zuora from $22.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Friday, May 31st. Bank of America set a $165.00 target price on shares of PVH and gave the company a “buy” rating in a research note on Thursday, May 30th. Deutsche Bank set a $18.00 target price on shares of Commercial Metals and gave the company a “buy” rating in a research note on Thursday, May 30th. Finally, Credit Suisse Group raised shares of Mosaic from an “underperform” rating to a “neutral” rating and set a $27.49 target price on the stock in a research note on Thursday, March 28th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. PVH currently has an average rating of “Buy” and a consensus target price of $125.32.

PVH stock opened at $87.87 on Wednesday. The business has a 50-day simple moving average of $90.28. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.75 and a current ratio of 1.47. PVH has a 1 year low of $82.51 and a 1 year high of $159.84. The company has a market cap of $6.71 billion, a P/E ratio of 9.15, a P/E/G ratio of 0.72 and a beta of 1.41.

PVH (NYSE:PVH) last released its quarterly earnings data on Wednesday, May 29th. The textile maker reported $2.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.44 by $0.02. PVH had a net margin of 6.69% and a return on equity of 13.03%. The business had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.37 billion. During the same quarter last year, the company earned $2.36 EPS. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, equities analysts expect that PVH will post 10.27 EPS for the current year.

PVH declared that its board has authorized a stock buyback plan on Wednesday, March 27th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the textile maker to buy up to 8.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

In other PVH news, Director Henry Nasella acquired 1,200 shares of PVH stock in a transaction dated Friday, May 31st. The stock was bought at an average price of $82.84 per share, for a total transaction of $99,408.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.20% of the company’s stock.

Large investors have recently bought and sold shares of the company. Valeo Financial Advisors LLC boosted its position in shares of PVH by 2,000.0% during the 2nd quarter. Valeo Financial Advisors LLC now owns 315 shares of the textile maker’s stock valued at $30,000 after purchasing an additional 300 shares in the last quarter. CSat Investment Advisory L.P. boosted its position in shares of PVH by 146.7% during the 4th quarter. CSat Investment Advisory L.P. now owns 375 shares of the textile maker’s stock valued at $35,000 after purchasing an additional 223 shares in the last quarter. Ropes Wealth Advisors LLC bought a new position in shares of PVH during the 1st quarter valued at about $40,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of PVH by 17.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 817 shares of the textile maker’s stock valued at $100,000 after purchasing an additional 123 shares in the last quarter. Finally, Quantamental Technologies LLC boosted its holdings in shares of PVH by 196.7% in the first quarter. Quantamental Technologies LLC now owns 899 shares of the textile maker’s stock worth $110,000 after buying an additional 596 shares during the period. Institutional investors own 94.98% of the company’s stock.

About PVH

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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Analyst Recommendations for PVH (NYSE:PVH)

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