PVH (NYSE:PVH) Hits New 1-Year High - Here's Why

Key Points

• PVH hit a new 52-week high — shares traded as high as $89.90 and last at $90.41 on volume of 603,079.
• Quarterly results beat estimates — PVH reported EPS of $3.82 versus $3.30 expected and revenue of $2.51B versus $2.43B, up 5.6% year-over-year.
• Analyst consensus remains cautious — the average rating is "Hold" with a consensus price target of $88.93, despite varied individual analyst revisions.

Shares of PVH Corp. (NYSE:PVH - Get Free Report) reached a new 52-week high during trading on Thursday . The company traded as high as $89.90 and last traded at $90.4120, with a volume of 603079 shares. The stock had previously closed at $87.50.

Analyst Ratings Changes

PVH has been the subject of a number of research reports. Wall Street Zen cut shares of PVH from a "buy" rating to a "hold" rating in a research note on Saturday, December 13th. UBS Group dropped their price target on shares of PVH from $148.00 to $120.00 and set a "buy" rating for the company in a research report on Friday, March 6th. Telsey Advisory Group restated a "market perform" rating and issued a $74.00 price objective on shares of PVH in a report on Wednesday, April 1st. Jefferies Financial Group decreased their price objective on shares of PVH from $85.00 to $80.00 and set a "buy" rating for the company in a report on Tuesday, January 27th. Finally, The Goldman Sachs Group increased their price target on shares of PVH from $83.00 to $93.00 and gave the stock a "buy" rating in a research note on Thursday, April 2nd. Seven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, PVH currently has an average rating of "Hold" and a consensus price target of $88.93.

PVH Stock Performance

The company has a quick ratio of 0.72, a current ratio of 1.52 and a debt-to-equity ratio of 0.48. The company has a market cap of $4.17 billion, a PE ratio of 239.92, a P/E/G ratio of 2.51 and a beta of 1.61. The business's fifty day moving average is $67.73 and its 200-day moving average is $73.04.

PVH (NYSE:PVH - Get Free Report) last issued its quarterly earnings results on Tuesday, March 31st. The textile maker reported $3.82 earnings per share for the quarter, beating the consensus estimate of $3.30 by $0.52. PVH had a net margin of 0.28% and a return on equity of 11.55%. The business had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the previous year, the firm earned $3.27 earnings per share. The company's revenue for the quarter was up 5.6% on a year-over-year basis. As a group, research analysts predict that PVH Corp. will post 11.67 EPS for the current fiscal year.

PVH Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th were issued a dividend of $0.0375 per share. The ex-dividend date of this dividend was Wednesday, March 4th. This represents a $0.15 annualized dividend and a yield of 0.2%. PVH's payout ratio is currently 39.47%.

Hedge Funds Weigh In On PVH

Large investors have recently added to or reduced their stakes in the company. Vaughan Nelson Investment Management L.P. purchased a new position in shares of PVH in the third quarter worth $74,338,000. LSV Asset Management lifted its holdings in shares of PVH by 47.8% in the third quarter. LSV Asset Management now owns 1,963,303 shares of the textile maker's stock worth $164,466,000 after buying an additional 634,887 shares in the last quarter. Barclays PLC increased its position in PVH by 68.4% in the third quarter. Barclays PLC now owns 1,197,009 shares of the textile maker's stock worth $100,273,000 after purchasing an additional 486,210 shares during the last quarter. Goldman Sachs Group Inc. increased its position in PVH by 79.8% in the first quarter. Goldman Sachs Group Inc. now owns 553,500 shares of the textile maker's stock worth $35,778,000 after purchasing an additional 245,740 shares during the last quarter. Finally, Jupiter Asset Management Ltd. bought a new stake in PVH in the third quarter worth $18,167,000. Hedge funds and other institutional investors own 97.25% of the company's stock.

About PVH

PVH Corp is a leading global apparel company known for its portfolio of iconic brands in the dress shirt, sportswear and lifestyle categories. The company designs, markets and distributes clothing, accessories and fragrances under both owned and licensed brands. PVH's core brand holdings include Calvin Klein and Tommy Hilfiger, complemented by a range of heritage labels such as Van Heusen, IZOD, ARROW, Warner's and Olga.

PVH's operations span the entire value chain from product design and development to manufacturing, marketing and distribution.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.