VF (NYSE:VFC) was upgraded by investment analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued on Monday, MarketBeat reports. The firm presently has a $78.00 target price on the textile maker’s stock. JPMorgan Chase & Co.’s target price indicates a potential downside of 11.87% from the company’s previous close.
A number of other research firms also recently weighed in on VFC. Bank of America upgraded VF from an “underperform” rating to a “buy” rating and set a $96.00 target price on the stock in a report on Friday, July 13th. Canaccord Genuity reiterated a “buy” rating and set a $92.00 target price on shares of VF in a report on Thursday, July 12th. Deutsche Bank began coverage on VF in a report on Thursday, July 12th. They set a “buy” rating and a $93.00 target price on the stock. UBS Group started coverage on VF in a report on Thursday, June 21st. They set a “neutral” rating and a $89.00 target price on the stock. Finally, Goldman Sachs Group started coverage on VF in a research note on Monday, June 25th. They issued a “buy” rating and a $96.00 price target on the stock. Ten investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $85.13.
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VF opened at $88.51 on Monday, MarketBeat reports. VF has a fifty-two week low of $55.51 and a fifty-two week high of $89.23. The company has a current ratio of 1.49, a quick ratio of 0.90 and a debt-to-equity ratio of 0.60. The company has a market cap of $33.66 billion, a price-to-earnings ratio of 29.70, a PEG ratio of 2.41 and a beta of 0.93.
VF (NYSE:VFC) last posted its earnings results on Friday, May 4th. The textile maker reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.02. VF had a return on equity of 34.05% and a net margin of 5.24%. The firm had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $2.91 billion. During the same quarter in the prior year, the business earned $0.52 EPS. The business’s revenue for the quarter was up 21.8% on a year-over-year basis. analysts expect that VF will post 3.54 EPS for the current year.
In related news, VP Kevin Bailey sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, May 14th. The stock was sold at an average price of $77.42, for a total value of $1,161,300.00. Following the transaction, the vice president now directly owns 54,571 shares of the company’s stock, valued at approximately $4,224,886.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Steven E. Rendle sold 74,180 shares of the company’s stock in a transaction that occurred on Friday, May 18th. The shares were sold at an average price of $80.12, for a total value of $5,943,301.60. Following the completion of the transaction, the chairman now directly owns 257,070 shares in the company, valued at $20,596,448.40. The disclosure for this sale can be found here. Insiders sold a total of 220,900 shares of company stock worth $17,948,688 in the last 90 days. 1.72% of the stock is currently owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Berkshire Asset Management LLC PA bought a new position in VF in the 2nd quarter valued at approximately $232,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH lifted its position in VF by 582.5% in the 2nd quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 42,996 shares of the textile maker’s stock valued at $3,538,000 after acquiring an additional 36,696 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in VF in the 2nd quarter valued at approximately $1,496,000. Campbell & CO Investment Adviser LLC bought a new position in VF in the 2nd quarter valued at approximately $236,000. Finally, CX Institutional bought a new position in VF in the 2nd quarter valued at approximately $194,000.
VF Company Profile
V.F. Corporation engages in the design, production, procurement, marketing, and distribution of branded lifestyle apparel, footwear, and related products for men, women, and children in the Americas, Europe, and the Asia Pacific. It operates through four segments: Outdoor & Action Sports, Jeanswear, Imagewear, and Other.
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