JPMorgan Chase & Co. Boosts PVH (NYSE:PVH) Price Target to $66.00

PVH (NYSE:PVH) had its target price increased by JPMorgan Chase & Co. from $52.00 to $66.00 in a research note released on Monday morning, The Fly reports. They currently have a neutral rating on the textile maker’s stock.

Other analysts have also issued reports about the stock. Telsey Advisory Group boosted their target price on shares of PVH from $60.00 to $70.00 and gave the company an outperform rating in a research report on Friday, September 4th. ValuEngine downgraded shares of PVH from a buy rating to a hold rating in a report on Thursday, September 3rd. Morgan Stanley lifted their price target on shares of PVH from $80.00 to $82.00 and gave the company an overweight rating in a report on Tuesday, September 1st. Royal Bank of Canada lifted their price target on shares of PVH from $48.00 to $65.00 and gave the company a sector perform rating in a report on Friday, September 4th. Finally, Piper Sandler lifted their price target on shares of PVH from $59.00 to $62.00 and gave the company an overweight rating in a report on Tuesday, September 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $70.88.

Shares of PVH stock opened at $58.51 on Monday. The company has a 50 day moving average price of $64.38 and a 200-day moving average price of $52.95. PVH has a 52 week low of $28.40 and a 52 week high of $108.06. The firm has a market capitalization of $4.16 billion, a PE ratio of -4.12 and a beta of 2.06. The company has a quick ratio of 0.87, a current ratio of 1.52 and a debt-to-equity ratio of 0.76.

PVH (NYSE:PVH) last announced its quarterly earnings results on Wednesday, September 2nd. The textile maker reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of ($2.43) by $2.56. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.29 billion. PVH had a negative net margin of 12.40% and a positive return on equity of 3.07%. The business’s revenue for the quarter was down 33.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.10 earnings per share. Analysts anticipate that PVH will post -3.16 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in the stock. Empirical Finance LLC lifted its holdings in PVH by 20.9% in the 3rd quarter. Empirical Finance LLC now owns 15,283 shares of the textile maker’s stock valued at $1,348,000 after purchasing an additional 2,641 shares in the last quarter. New Mexico Educational Retirement Board lifted its holdings in PVH by 16.0% in the 3rd quarter. New Mexico Educational Retirement Board now owns 5,800 shares of the textile maker’s stock valued at $512,000 after purchasing an additional 800 shares in the last quarter. Fulcrum Asset Management LLP purchased a new position in PVH in the 3rd quarter valued at $253,000. Nisa Investment Advisors LLC raised its holdings in shares of PVH by 52.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 45,420 shares of the textile maker’s stock worth $2,709,000 after acquiring an additional 15,600 shares during the period. Finally, Louisiana State Employees Retirement System purchased a new position in shares of PVH during the 3rd quarter worth $215,000. 97.62% of the stock is owned by hedge funds and other institutional investors.

About PVH

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 and women's apparel and accessories, including branded dress shirts, neckwear, sportswear, jeans wear, performance apparel, intimate apparel, underwear, outerwear, luggage products, swimwear, swim products, handbags, accessories, footwear, sleepwear, loungewear, hats, scarves, gloves, socks, watches and jewelry, eyeglasses and non-ophthalmic sunglasses, fragrance, bath products, cosmetics, furnishings, small leather goods, accessories, and other products.

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