PVH (NYSE:PVH) Shares Gap Down on Analyst Downgrade

PVH Corp. (NYSE:PVH - Get Free Report)'s stock price gapped down prior to trading on Thursday after BMO Capital Markets lowered their price target on the stock from $93.00 to $84.00. The stock had previously closed at $80.81, but opened at $70.04. BMO Capital Markets currently has a market perform rating on the stock. PVH shares last traded at $65.46, with a volume of 3,339,042 shares changing hands.

Several other brokerages also recently issued reports on PVH. Telsey Advisory Group restated an "outperform" rating and set a $90.00 price objective on shares of PVH in a research report on Thursday. UBS Group raised their price objective on shares of PVH from $140.00 to $150.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. Barclays cut their price objective on shares of PVH from $103.00 to $87.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Morgan Stanley cut their price objective on shares of PVH from $95.00 to $86.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 2nd. Finally, Wall Street Zen upgraded shares of PVH from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $103.94.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PVH. Barclays PLC increased its stake in PVH by 71.3% in the third quarter. Barclays PLC now owns 60,495 shares of the textile maker's stock valued at $6,097,000 after acquiring an additional 25,174 shares during the last quarter. ARGA Investment Management LP lifted its holdings in shares of PVH by 394.2% during the fourth quarter. ARGA Investment Management LP now owns 17,885 shares of the textile maker's stock worth $1,891,000 after purchasing an additional 14,266 shares during the period. Empowered Funds LLC lifted its holdings in shares of PVH by 947.1% during the fourth quarter. Empowered Funds LLC now owns 79,163 shares of the textile maker's stock worth $8,371,000 after purchasing an additional 71,603 shares during the period. Allspring Global Investments Holdings LLC boosted its position 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 valued at $79,705,000 after acquiring an additional 759,656 shares during the last quarter. Finally, Stanley Laman Group Ltd. bought a new stake in PVH during the fourth quarter valued at $2,330,000. 97.25% of the stock is owned by institutional investors.

PVH Stock Down 18.0%

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 cap of $3.18 billion, a P/E ratio of 5.40, a PEG ratio of 0.77 and a beta of 1.89. The stock's 50-day simple moving average is $74.89 and its 200 day simple moving average is $84.77.

PVH (NYSE:PVH - Get Free Report) last issued its quarterly earnings results on Wednesday, June 4th. The textile maker reported $2.30 EPS for the quarter, beating analysts' consensus estimates of $2.24 by $0.06. The business had revenue of $1.98 billion for the quarter, compared to analysts' expectations of $1.93 billion. PVH had a net margin of 8.13% and a return on equity of 13.66%. The business's quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.45 earnings per share. As a group, research analysts forecast that PVH Corp. will post 11.67 EPS for the current fiscal year.

PVH Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Wednesday, June 4th will be given a dividend of $0.0375 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.23%. PVH's dividend payout ratio (DPR) is presently 1.42%.

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.