PVH (NYSE:PVH) Given New $120.00 Price Target at Citigroup

PVH (NYSE:PVH - Get Free Report) had its target price dropped by research analysts at Citigroup from $139.00 to $120.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a "neutral" rating on the textile maker's stock. Citigroup's price target would indicate a potential upside of 13.75% from the company's previous close.

Other research analysts have also recently issued reports about the stock. StockNews.com raised shares of PVH from a "hold" rating to a "buy" rating in a research report on Thursday, December 7th. Telsey Advisory Group cut their price target on shares of PVH from $155.00 to $140.00 and set an "outperform" rating on the stock in a report on Tuesday. Wells Fargo & Company cut their price target on shares of PVH from $150.00 to $138.00 and set an "overweight" rating on the stock in a report on Tuesday. JPMorgan Chase & Co. cut their price target on shares of PVH from $165.00 to $146.00 and set an "overweight" rating on the stock in a report on Tuesday. Finally, Bank of America cut their price target on shares of PVH from $156.00 to $122.00 and set a "buy" rating on the stock in a report on Wednesday. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $123.73.

PVH Trading Down 2.9 %

Shares of NYSE PVH traded down $3.19 during midday trading on Wednesday, reaching $105.49. 2,376,779 shares of the stock were exchanged, compared to its average volume of 930,506. The company has a market capitalization of $6.29 billion, a P/E ratio of 12.56, a P/E/G ratio of 0.74 and a beta of 2.20. PVH has a 52-week low of $69.27 and a 52-week high of $141.15. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.31. The stock has a 50 day moving average price of $130.67 and a 200-day moving average price of $106.87.

PVH (NYSE:PVH - Get Free Report) last released its earnings results on Tuesday, April 2nd. The textile maker reported $3.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.51 by $0.21. PVH had a net margin of 7.20% and a return on equity of 12.99%. The firm had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.42 billion. During the same period in the previous year, the firm earned $2.38 earnings per share. PVH's revenue was up .0% compared to the same quarter last year. Equities research analysts expect that PVH will post 11.95 earnings per share for the current fiscal year.

PVH declared that its Board of Directors has initiated a share buyback plan on Monday, April 1st that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the textile maker to reacquire up to 24% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Insider Activity at PVH

In other PVH news, EVP Mark D. Fischer sold 3,500 shares of the company's stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $123.00, for a total value of $430,500.00. Following the completion of the sale, the executive vice president now directly owns 27,903 shares of the company's stock, valued at approximately $3,432,069. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.78% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PVH

Institutional investors and hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC lifted its holdings in PVH by 2,600.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 270 shares of the textile maker's stock valued at $33,000 after acquiring an additional 260 shares during the last quarter. GAMMA Investing LLC purchased a new stake in PVH during the fourth quarter valued at about $38,000. Quarry LP lifted its stake in PVH by 81.8% during the second quarter. Quarry LP now owns 320 shares of the textile maker's stock valued at $27,000 after buying an additional 144 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in PVH during the third quarter valued at about $25,000. Finally, Belpointe Asset Management LLC lifted its stake in PVH by 39.8% during the first quarter. Belpointe Asset Management LLC now owns 492 shares of the textile maker's stock valued at $44,000 after buying an additional 140 shares in the last quarter. 97.25% of the stock is owned by institutional investors and hedge funds.

PVH Company Profile

PVH Corp. operates as an apparel company in the United States and internationally. The company operates through six segments: Tommy Hilfiger North America, Tommy Hilfiger International, Calvin Klein North America, Calvin Klein International, Heritage Brands Wholesale, and Heritage Brands Retail. It designs, markets, and retails men's, women's, and children's apparel and accessories, include branded dress shirts, neckwear, sportswear, jeans wear, performance apparel, intimate apparel, underwear, swimwear, swim-related products, handbags, accessories, footwear, outerwear, home furnishings, luggage products, sleepwear, loungewear, hats, scarves, gloves, socks, watches and jewelry, eyeglasses and non-ophthalmic sunglasses, fragrance, home bed and bath furnishings, small leather goods, and other products.