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Why PVH (PVH) Stock Continues to Climb Today

NEW YORK (TheStreet) -- PVH Corp. (PVH - Get Report)  stock is up 10.04% to $128.89 in afternoon trading at three times normal volume following its higher than expected second quarter earnings and a price target increase at Wells Fargo (WFC) .

Watch the video below for a detailed look at PVH's latest quarterly results:

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Analysts at the firm raised its price target on the clothing company to a range of $137 - $141 from $127 - $132 with a "market perform" rating on the shares.

The firm cited improved sales trends in August for the change.

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Separately, TheStreet Ratings team rates PVH CORP as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:

"We rate PVH CORP (PVH) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its increase in net income, revenue growth, good cash flow from operations, growth in earnings per share and expanding profit margins. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Textiles, Apparel & Luxury Goods industry. The net income increased by 442.7% when compared to the same quarter one year prior, rising from -$10.30 million to $35.30 million.
  • Despite its growing revenue, the company underperformed as compared with the industry average of 10.9%. Since the same quarter one year prior, revenues slightly increased by 1.2%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • Net operating cash flow has significantly increased by 56.05% to -$51.40 million when compared to the same quarter last year. In addition, PVH CORP has also vastly surpassed the industry average cash flow growth rate of 4.17%.
  • PVH CORP reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. But, we feel it is poised for EPS growth in the coming year. During the past fiscal year, PVH CORP reported lower earnings of $1.83 versus $5.87 in the prior year. This year, the market expects an improvement in earnings ($7.36 versus $1.83).
  • The gross profit margin for PVH CORP is rather high; currently it is at 55.76%. Regardless of PVH's high profit margin, it has managed to decrease from the same period last year. Despite the mixed results of the gross profit margin, the net profit margin of 1.79% trails the industry average.
  • You can view the full analysis from the report here: PVH Ratings Report

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