PVH Soars After Earnings, Revenue Beat

Meanwhile, bull notes are pouring in for the stock

Deputy Editor
Sep 3, 2020 at 10:21 AM
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The shares of PVH Corp (NYSE:PVH) are rising today, last seen up 5.1% to trade at $62.58, after reporting first-quarter earnings and revenue that were well above Wall Street's estimates. As a result, the Tommy Hilfiger and Calvin Klein parent name has received no fewer than five price-target hikes, most notably a raise to $70 from $58 from Credit Suisse.

This sentiment isn't shared by all analysts, however. In fact, coming into today, nine of the 16 in coverage rated the equity a tepid "hold" and the rest consider PVH a "buy" or better. Plus, PVH's 12-month consensus price target of $61.20 is a 2.8% discount to current levels.  

After breaking above the $60 level for the first time nearly three months during yesterday's session, PVH failed to close above the mark. Today, however, things are only looking up, as the stock is not only set to close above $60, but also the $62 level. Additionally, the equity its first close above the 180-day moving average since late January. Still, the stock is in a 43.4% year-to-date slump.

Meanwhile, there's a massive appetite for calls among short-term traders. This is per the security's Schaeffer's put/call open interest ratio (SOIR) of 0.42, which ranks higher than just 6% of readings from the past year. 

Lastly, PVH's quarterly report is attracting options players, too. In the first two hours of trading, 1,492 calls and 1,026 puts have crossed the tape -- five times the average intraday amount with volume pacing for the 99th percentile of its annual range. The most popular contract is the September 70 call, followed closely by the 60 call in the same series. 

 

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