In a report released today, Robert Drbul from Guggenheim reiterated a Buy rating on PVH (PVH), with a price target of $150. The company’s shares closed yesterday at $109.57.
Drbul noted:
“We see value in the shares, currently trading at ~10.5x our 2019E EPS (a ~30% discount to its historical avg. and below the ~18x avg. for our Branded Apparel group). We believe key top-line drivers should remain International, led by Europe and China, as well as digital, led by pure-plays. We also believe PVH is set up well from a margin perspective in 2019. Finally, we view the appointment of the newly created role of President, PVH Corp., positively (announced on 5/21). We remain BUY rated with a $150 PT. On 5/21, PVH announced the appointment of the newly created role of President, PVH Corp., effective in conjunction with this appointment, PVH Chairman and CEO Manny Chirico signed a new 5-year employment agreement with the company.”
According to TipRanks.com, Drbul is a 5-star analyst with an average return of 10.0% and a 65.4% success rate. Drbul covers the Services sector, focusing on stocks such as National Vision Holdings Inc, Ascena Retail Group, and Ralph Lauren Corp.
Currently, the analyst consensus on PVH is a Strong Buy with an average price target of $143.10.
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Based on PVH’s latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $2.48 billion and net profit of $159 million. In comparison, last year the company had a net profit of $179 million.
Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is negative on the stock.
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PVH Corp. engages in the design and marketing of branded dress shirts, neckwear, sportswear, jeans wear, intimate apparel, swim products, handbags, footwear, and other related products. It operates through the following segments: Calvin Klein North America, Calvin Klein International, Tommy Hilfiger North America, Tommy Hilfiger International, Heritage Brands Wholesale, and Heritage Brands Retail. The Calvin Klein North America and Calvin Klein International segment operates in North America; and Europe, Asia, and Brazil respectively. It sells its products under the brand names CALVIN KLEIN 205 W39 NYC, CK Calvin Klein, and CALVIN KLEIN. The Tommy Hilfiger North America and Tommy Hilfiger International segment wholesales in North America; and Europe and China respectively. It consists of Tommy Hilfiger, Hilfiger Denim, Hilfiger Collection, and Tommy Hilfiger Tailored brands. The Heritage Brands Wholesale segment markets its products to department, chain, and specialty stores, digital commerce sites operated by select wholesale partners and pure play digital commerce retailers in North America. The Heritage Brands Retail segment manages retail stores, primarily located in outlet centers throughout the United States and Canada. PVH was founded in 1881 and is headquartered in New York, NY.
