Morgan Stanley Lowers PVH (NYSE:PVH) Price Target to $86.00

PVH (NYSE:PVH) had its target price cut by stock analysts at Morgan Stanley from $95.00 to $86.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the textile maker’s stock. Morgan Stanley’s target price indicates a potential upside of 11.78% from the stock’s previous close.

Several other equities research analysts have also commented on the company. Guggenheim upped their target price on PVH from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $90.00 price objective on shares of PVH in a research report on Tuesday. Citigroup dropped their target price on shares of PVH from $123.00 to $72.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 25th. Barclays reduced their price target on shares of PVH from $144.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Finally, Jefferies Financial Group dropped their price objective on shares of PVH from $101.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, PVH currently has a consensus rating of “Moderate Buy” and an average price target of $107.07.

PVH Trading Up 0.7 %

PVH traded up $0.51 during midday trading on Wednesday, hitting $76.94. 1,249,017 shares of the company were exchanged, compared to its average volume of 934,109. The firm’s 50 day moving average price is $75.95 and its 200-day moving average price is $92.59. 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 firm has a market capitalization of $4.28 billion, a P/E ratio of 6.26, a P/E/G ratio of 0.77 and a beta of 2.10. PVH has a 1-year low of $62.91 and a 1-year high of $124.68.

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

Hedge Funds Weigh In On PVH

A number of hedge funds have recently bought and sold shares of PVH. Allspring Global Investments Holdings LLC boosted its holdings in PVH by 179,164.2% during 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 last quarter. Balyasny Asset Management L.P. purchased a new position in shares of PVH in the 4th quarter worth approximately $53,373,000. Schroder Investment Management Group bought a new position in shares of PVH in the fourth quarter valued at approximately $38,035,000. AQR Capital Management LLC increased its position in shares of PVH by 128.6% during the fourth quarter. AQR Capital Management LLC now owns 566,513 shares of the textile maker’s stock valued at $59,909,000 after acquiring an additional 318,731 shares during the last quarter. Finally, Channing Capital Management LLC lifted its holdings in PVH by 87.0% during the fourth quarter. Channing Capital Management LLC now owns 680,991 shares of the textile maker’s stock worth $72,015,000 after acquiring an additional 316,876 shares during the period. 97.25% of the stock is owned by hedge funds and other institutional investors.

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.