VF Upgraded to “Buy” by Citigroup, Price Target RaisedVF Upgraded to “Buy” by Citigroup, Price Target Raised Citigroup has upgraded VF (NYSE: VFC) from “neutral” to “buy” with a new price target of $20.00, up from $11.00. This represents a potential upside of 22.10% from the current share price. Analyst Consensus and Ratings Several other analysts have also weighed in on VFC, with varying ratings and price targets: * Telsey Advisory Group: $15.00, “market perform” * Bank of America: $11.00, “underperform” * JPMorgan Chase & Co.: $12.00, “neutral” * StockNews.com: “sell” * Stifel Nicolaus: $19.00, “buy” The current consensus rating for VFC is “Hold” with a consensus price target of $14.19. Financial Performance VF recently reported earnings results for the quarter ended May 22, missing consensus EPS estimates. Revenue declined 13.4% year over over year. Analysts expect the company to report 0.85 EPS for the current fiscal year. Insider Activity and Institutional Ownership Insider buying activity has been reported, with Director Richard Carucci purchasing 25,000 shares and insider Bracken Darrell purchasing 75,200 shares recently. Institutional investors hold 86.84% of VFC’s shares. Company Overview VF Corporation designs, sources, and distributes branded apparel, footwear, and accessories through three segments: Outdoor, Active, and Work. The company has a 12-month low of $11.00 and a 12-month high of $21.17.
VF (NYSE:VFC – Get Free Report) was upgraded from a “neutral” rating to a “buy” rating by equity analysts at Citigroup in a note issued to investors Thursday, MarketBeat reports. The brokerage currently has a $20.00 price target on the textile maker’s stock, up from its previous price target of $11.00. Citigroup’s price target would represent a potential upside of 22.10% from the company’s current share price.
Several other analysts have also weighed in on VFC. Telsey Advisory Group raised their price target on shares of VF from $13.00 to $15.00 and gave the company a “market perform” rating in a research report on Thursday. Bank of America lowered their price target on shares of VF from $13.00 to $11.00 and set an “underperform” rating on the stock in a research report on Thursday, May 23rd. JPMorgan Chase & Co. lowered their price target on shares of VF from $16.00 to $12.00 and set a “neutral” rating on the stock in a research report on Monday, April 8th. StockNews.com lowered shares of VF from a “hold” rating to a “sell” rating in a research report on Monday, May 27th. Finally, Stifel Nicolaus lowered their price target on shares of VF from $22.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, May 23. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating, and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $14.19, according to MarketBeat.
Check out our latest stock report on VFC
VF Price Performance
Shares of VF opened at $16.38 on Thursday. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.71 and a current ratio of 1.22. The company’s 50-day simple moving average is $13.40 and its 200-day simple moving average is $14.51. VF has a 12-month low of $11.00 and a 12-month high of $21.17. The company has a market cap of $6.37 billion, a price-to-earnings ratio of -6.55, a price-to-earnings growth ratio of 1.25 and a beta of 1.53.
VF (NYSE:VFC – Get Free Report) last released its earnings results on Wednesday, May 22. The textile manufacturer reported ($0.32) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.34). VF had a negative net margin of 9.27% and a positive return on equity of 13.14%. The company had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.42 billion. In the year-ago quarter, the company reported $0.17 EPS. VF’s revenue declined 13.4% year over year. As a group, research analysts expect VF to report 0.85 EPS for the current fiscal year.
Insider buying and selling
In other VF news, Director Richard Carucci bought 25,000 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were acquired at an average price of $13.78 per share, for a total value of $344,500.00. Following the completion of the purchase, the Director now directly owns 215,130 shares of the company’s stock, valued at approximately $2,964,491.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, available at this hyperlink. In other VF news, insider Bracken Darrell bought 75,200 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were acquired at an average price of $13.26 per share, for a total value of $997,152.00. Following the completion of the purchase, the insider now directly owns 219,972 shares of the company’s stock, valued at approximately $2,916,828.72. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, available at this hyperlink. Also, Director Richard Carucci purchased 25,000 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were purchased at an average price of $13.78 per share, for a total value of $344,500.00. Following the purchase, the Director now directly owns 215,130 shares of the company’s stock, valued at approximately $2,964,491.40. The disclosure for this purchase can be found here. 0.70% of the shares are currently held by insiders.
Institutional investors weigh in on VF
Major investors have been buying and selling shares of the company recently. Wolff Wiese Magana LLC increased its stake in VF by 2,835.6% in the fourth quarter. Wolff Wiese Magana LLC now owns 1,321 shares of the textile manufacturer’s stock worth $25,000 after purchasing an additional 1,276 shares in the last quarter. Eagle Bay Advisors LLC purchased a new stake in VF in the fourth quarter worth approximately $25,000. Mather Group LLC. acquired a new position in shares of VF in the first quarter worth approximately $27,000. Allworth Financial LP increased its holdings in shares of VF by 111.5% in the fourth quarter. Allworth Financial LP now owns 1,817 shares of the textile manufacturer’s stock worth $34,000 after purchasing an additional 958 shares during the period. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of VF during the first quarter worth approximately $31,000. Institutional investors own 86.84% of the company’s shares.
About VF
(Get free report)
VF Corporation, together with its subsidiaries, designs, sources, markets and distributes branded apparel, footwear and accessories for men, women and children in the Americas, Europe and Asia Pacific. The company operates through three segments: Outdoor, Active and Work.
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