PVH (NYSE:PVH) Downgraded by Bank of America to “Neutral”

Bank of America lowered shares of PVH (NYSE:PVH) from a buy rating to a neutral rating in a research note released on Wednesday morning, Marketbeat Ratings reports. Bank of America currently has $107.00 target price on the textile maker’s stock, down from their previous target price of $130.00.

Several other equities analysts have also issued reports on the stock. Wedbush restated an outperform rating and issued a $128.00 target price on shares of PVH in a report on Wednesday, June 5th. Barclays cut their target price on PVH from $154.00 to $142.00 and set an overweight rating on the stock in a research report on Thursday, August 29th. Telsey Advisory Group lowered their target price on PVH from $140.00 to $130.00 and set an outperform rating for the company in a report on Thursday, August 29th. BMO Capital Markets dropped their price target on PVH from $119.00 to $106.00 and set a market perform rating on the stock in a research note on Wednesday, August 28th. Finally, StockNews.com downgraded shares of PVH from a strong-buy rating to a buy rating in a research report on Friday, August 16th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, PVH presently has a consensus rating of Moderate Buy and an average price target of $128.87.

PVH Stock Performance

NYSE PVH opened at $97.90 on Wednesday. The company has a market capitalization of $5.47 billion, a price-to-earnings ratio of 8.66, a PEG ratio of 0.77 and a beta of 2.11. 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 has a twelve month low of $69.27 and a twelve month high of $141.15. The stock has a fifty day simple moving average of $97.59 and a 200 day simple moving average of $107.94.

PVH (NYSE:PVH) last issued its quarterly earnings data on Tuesday, August 27th. The textile maker reported $3.01 earnings per share (EPS) 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 the consensus estimate of $2.07 billion. PVH had a return on equity of 13.94% and a net margin of 8.37%. The firm’s revenue was down 6.0% compared to the same quarter last year. During the same period last year, the company earned $1.98 earnings per share. Sell-side analysts expect that PVH will post 11.59 EPS for the current year.

PVH Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were issued a $0.0375 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.15%. PVH’s dividend payout ratio is presently 1.33%.

Institutional Investors Weigh In On PVH

Institutional investors and hedge funds have recently bought and sold shares of the stock. Pzena Investment Management LLC grew its stake in shares of PVH by 5.3% in the 2nd quarter. Pzena Investment Management LLC now owns 5,623,706 shares of the textile maker’s stock worth $595,382,000 after acquiring an additional 284,269 shares in the last quarter. Dimensional Fund Advisors LP grew its position in PVH by 1.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,148,855 shares of the textile maker’s stock worth $333,375,000 after purchasing an additional 55,293 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in PVH by 14.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,320,471 shares of the textile maker’s stock valued at $245,668,000 after buying an additional 296,040 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of PVH by 13,275.0% during the 2nd quarter. Pacer Advisors Inc. now owns 1,222,207 shares of the textile maker’s stock worth $129,395,000 after buying an additional 1,213,069 shares in the last quarter. Finally, LSV Asset Management boosted its stake in shares of PVH by 15.7% in the 2nd quarter. LSV Asset Management now owns 916,002 shares of the textile maker’s stock worth $96,977,000 after buying an additional 124,309 shares during the last quarter. 97.25% of the stock is 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.