V.F. (NYSE:VFC) Price Target Raised to $28.00

Key Points

• Barclays raised its V.F. price target to $28 from $24 and maintained an “overweight” rating, implying 35.14% upside from the prior close.
• V.F. reported quarterly EPS of $0.70, topping the $0.54 consensus estimate, and revenue of $2.70 billion versus expectations of $2.66 billion; revenue was down 3.8% year over year.
• Analyst opinion is mixed: MarketBeat’s consensus rating is “Hold,” with an average price target of $18.89, below the $28 Barclays target.

V.F. (NYSE:VFC - Get Free Report) had its price objective boosted by investment analysts at Barclays from $24.00 to $28.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an "overweight" rating on the textile maker's stock. Barclays's price target would suggest a potential upside of 35.14% from the company's previous close.

VFC has been the topic of several other research reports. Wall Street Zen downgraded V.F. from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. UBS Group set a $17.00 price target on V.F. and gave the stock a "neutral" rating in a report on Monday, October 19th. Stifel Nicolaus lowered their price target on V.F. from $19.00 to $17.00 and set a "hold" rating for the company in a research report on Thursday, July 30th. JPMorgan Chase & Co. raised shares of V.F. from an "underweight" rating to a "neutral" rating and reduced their target price for the stock from $19.00 to $18.00 in a report on Friday, October 9th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of V.F. from $18.00 to $19.00 and gave the stock a "hold" rating in a research note on Thursday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and fourteen have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $18.89.

V.F. Stock Down 1.0%

Shares of NYSE VFC traded down $0.21 during trading on Thursday, reaching $20.72. The company had a trading volume of 8,126,722 shares, compared to its average volume of 7,748,285. The stock has a market cap of $8.16 billion, a PE ratio of 22.39, a P/E/G ratio of 0.84 and a beta of 1.49. V.F. has a 12-month low of $12.45 and a 12-month high of $22.27. The company has a quick ratio of 0.85, a current ratio of 1.47 and a debt-to-equity ratio of 1.48. The business's 50-day moving average is $15.05 and its 200 day moving average is $16.97.

V.F. (NYSE:VFC - Get Free Report) last issued its earnings results on Wednesday, October 28th. The textile maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.16. The company had revenue of $2.70 billion for the quarter, compared to analysts' expectations of $2.66 billion. V.F. had a net margin of 3.93% and a return on equity of 21.78%. The firm's quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter last year, the company posted $0.52 earnings per share. As a group, equities analysts forecast that V.F. will post 1.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Richard Carucci bought 20,000 shares of the company's stock in a transaction dated Thursday, August 13th. The shares were acquired at an average price of $14.73 per share, with a total value of $294,600.00. Following the completion of the acquisition, the director owned 356,215 shares in the company, valued at approximately $5,247,046.95. This trade represents a 5.95% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.54% of the stock is currently owned by corporate insiders.

Institutional Trading of V.F.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Varenne Capital Partners acquired a new stake in shares of V.F. during the 2nd quarter valued at $13,671,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of V.F. in the 2nd quarter worth approximately $2,457,000. Corient Private Wealth LP raised its position in V.F. by 343.7% in the second quarter. Corient Private Wealth LP now owns 212,198 shares of the textile maker's stock worth $3,539,000 after purchasing an additional 164,369 shares in the last quarter. Madison Asset Management LLC acquired a new stake in shares of V.F. during the 2nd quarter worth about $3,913,000. Finally, Hillsdale Investment Management Inc. bought a new stake in shares of V.F. during the first quarter worth $3,209,000. Hedge funds and other institutional investors own 86.84% of the company's stock.

About V.F.

V.F. Corporation, commonly known as VF Corporation, is a global apparel, footwear and accessories company. Its brand portfolio includes The North Face, Vans, Timberland, Dickies, JanSport, Smartwool, Icebreaker, Kipling, Eastpak and Napapijri. These brands serve outdoor, active, workwear, lifestyle and youth-oriented markets.

VF sells products through wholesale partners, company-operated retail stores, brand websites and other digital channels. Its offerings include jackets, outdoor and performance apparel, footwear, backpacks, luggage and workwear.

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