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 issued to investors on Wednesday morning, Marketbeat Ratings reports. The firm currently has $107.00 price objective on the textile maker’s stock, down from their prior price objective of $130.00.

A number of other research firms have also weighed in on PVH. The Goldman Sachs Group lowered their price objective on shares of PVH from $144.00 to $124.00 and set a buy rating for the company in a research note on Thursday, August 29th. Wedbush reaffirmed an outperform rating and issued a $128.00 price target on shares of PVH in a research report on Wednesday, June 5th. Wells Fargo & Company dropped their price objective on shares of PVH from $145.00 to $130.00 and set an overweight rating on the stock in a research note on Wednesday, August 28th. Morgan Stanley reduced their price objective on shares of PVH from $120.00 to $100.00 and set an equal weight rating for the company in a research note on Friday, September 6th. Finally, StockNews.com cut PVH from a strong-buy rating to a buy rating in a research report on Friday, August 16th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $128.87.

PVH Stock Performance

PVH stock opened at $97.90 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.66 and a current ratio of 1.24. The company has a market capitalization of $5.47 billion, a PE ratio of 8.59, a P/E/G ratio of 0.77 and a beta of 2.11. The company has a 50 day moving average price of $97.63 and a 200-day moving average price of $108.15. PVH has a fifty-two week low of $69.27 and a fifty-two week high of $141.15.

PVH (NYSE:PVH) last issued its earnings results on Tuesday, August 27th. The textile maker reported $3.01 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.72. PVH had a return on equity of 13.94% and a net margin of 8.37%. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same period in the previous year, the company posted $1.98 EPS. PVH’s revenue was down 6.0% on a year-over-year basis. As a group, equities analysts forecast that PVH will post 11.59 earnings per share for the current year.

PVH Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Altshuler Shaham Ltd acquired a new position in shares of PVH in the 2nd quarter valued at $25,000. New Covenant Trust Company N.A. purchased a new position in shares of PVH during the first quarter worth $26,000. Riverview Trust Co purchased a new stake in PVH in the first quarter valued at $36,000. Headlands Technologies LLC acquired a new stake in PVH during the 1st quarter worth about $36,000. Finally, Daiwa Securities Group Inc. purchased a new position in shares of PVH during the 1st quarter valued at about $42,000. Institutional investors and hedge funds own 97.25% of the company’s stock.

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.