Morgan Stanley Cuts PVH (NYSE:PVH) Price Target to $100.00

PVH (NYSE:PVH) had its price target reduced by stock analysts at Morgan Stanley from $120.00 to $100.00 in a research report issued on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the textile maker’s stock. Morgan Stanley’s price objective indicates a potential upside of 4.04% from the stock’s current price.

Several other brokerages have also recently issued reports on PVH. TD Cowen dropped their price objective on shares of PVH from $149.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. StockNews.com cut shares of PVH from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 16th. The Goldman Sachs Group dropped 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. BMO Capital Markets dropped their price objective on shares of PVH from $119.00 to $106.00 and set a “market perform” rating for the company in a research note on Wednesday, August 28th. Finally, Wells Fargo & Company dropped their price objective on shares of PVH from $145.00 to $130.00 and set an “overweight” rating for the company in a research note on Wednesday, August 28th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $130.40.

PVH Price Performance

Shares of PVH traded down $0.71 during mid-day trading on Friday, hitting $96.12. 342,076 shares of the company were exchanged, compared to its average volume of 878,701. PVH has a 1-year low of $69.27 and a 1-year high of $141.15. 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 50 day moving average of $100.76 and a 200-day moving average of $113.45. The stock has a market cap of $5.37 billion, a price-to-earnings ratio of 8.51, a price-to-earnings-growth ratio of 0.77 and a beta of 2.12.

PVH (NYSE:PVH) last released its quarterly earnings results on Tuesday, August 27th. The textile maker reported $3.01 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.72. PVH had a net margin of 8.37% and a return on equity of 13.94%. The firm had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the prior year, the firm earned $1.98 EPS. The company’s revenue for the quarter was down 6.0% on a year-over-year basis. Analysts expect that PVH will post 11.47 EPS for the current fiscal year.

Hedge Funds Weigh In On PVH

Several large investors have recently made changes to their positions in PVH. Pacer Advisors Inc. lifted its holdings in shares of PVH by 13,275.0% in the 2nd quarter. Pacer Advisors Inc. now owns 1,222,207 shares of the textile maker’s stock worth $129,395,000 after acquiring an additional 1,213,069 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of PVH by 234.1% in the 1st quarter. Principal Financial Group Inc. now owns 741,151 shares of the textile maker’s stock worth $104,213,000 after acquiring an additional 519,316 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of PVH by 1,954.3% in the 4th quarter. Franklin Resources Inc. now owns 352,448 shares of the textile maker’s stock worth $43,041,000 after acquiring an additional 335,291 shares during the last quarter. Balyasny Asset Management L.P. lifted its holdings in shares of PVH by 711.4% in the 4th quarter. Balyasny Asset Management L.P. now owns 341,506 shares of the textile maker’s stock worth $41,705,000 after acquiring an additional 299,418 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of 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 worth $245,668,000 after acquiring an additional 296,040 shares during the last quarter. 97.25% of the stock is currently 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 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.