Bank of America Forecasts Strong Price Appreciation for Levi Strauss & Co. (NYSE:LEVI) Stock

Key Points

• Bank of America has increased its price target for Levi Strauss & Co. from $26.00 to $27.00, indicating a potential upside of 13.30% from the stock's current price with a "buy" rating.
• Levi Strauss & Co. reported earnings of $0.22 per share for the latest quarter, exceeding analyst expectations of $0.13, with revenue of $1.45 billion compared to estimates of $1.37 billion.
• Analysts are optimistic about Levi's stock, with ten giving it a "buy" rating and a consensus target price of $24.33.

Levi Strauss & Co. (NYSE:LEVI - Get Free Report) had its price objective increased by research analysts at Bank of America from $26.00 to $27.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the blue-jean maker's stock. Bank of America's target price would indicate a potential upside of 13.30% from the stock's current price.

LEVI has been the subject of several other research reports. Wells Fargo & Company upped their price target on Levi Strauss & Co. from $22.00 to $25.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Telsey Advisory Group raised their price objective on Levi Strauss & Co. from $21.00 to $24.00 and gave the stock an "outperform" rating in a research note on Friday, July 11th. JPMorgan Chase & Co. raised their price target on shares of Levi Strauss & Co. from $18.00 to $23.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Morgan Stanley raised their price target on Levi Strauss & Co. from $16.00 to $19.00 and gave the company an "equal weight" rating in a report on Friday, July 11th. Finally, Stifel Nicolaus upped their target price on Levi Strauss & Co. from $20.00 to $24.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Ten investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.33.

Levi Strauss & Co. Stock Up 2.3%

LEVI traded up $0.53 on Wednesday, reaching $23.83. The company's stock had a trading volume of 315,281 shares, compared to its average volume of 2,454,380. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.48 and a quick ratio of 0.85. The business's 50 day moving average is $21.56 and its 200 day moving average is $18.65. The stock has a market cap of $9.43 billion, a price-to-earnings ratio of 23.36, a price-to-earnings-growth ratio of 1.88 and a beta of 1.25. Levi Strauss & Co. has a 1 year low of $12.17 and a 1 year high of $23.90.

Levi Strauss & Co. (NYSE:LEVI - Get Free Report) last released its quarterly earnings data on Thursday, July 10th. The blue-jean maker reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.09. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.37 billion. Levi Strauss & Co. had a net margin of 6.40% and a return on equity of 28.75%. Levi Strauss & Co.'s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.16 earnings per share. As a group, research analysts forecast that Levi Strauss & Co. will post 1.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Levi Strauss & Co.

A number of hedge funds have recently bought and sold shares of LEVI. Northwestern Mutual Wealth Management Co. raised its holdings in Levi Strauss & Co. by 140.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,425 shares of the blue-jean maker's stock worth $26,000 after purchasing an additional 833 shares during the period. Golden State Wealth Management LLC raised its stake in Levi Strauss & Co. by 101.5% in the first quarter. Golden State Wealth Management LLC now owns 2,210 shares of the blue-jean maker's stock worth $34,000 after buying an additional 1,113 shares in the last quarter. IFP Advisors Inc bought a new stake in Levi Strauss & Co. during the first quarter valued at about $38,000. Hara Capital LLC lifted its position in shares of Levi Strauss & Co. by 8,080.0% during the second quarter. Hara Capital LLC now owns 2,045 shares of the blue-jean maker's stock valued at $38,000 after buying an additional 2,020 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Levi Strauss & Co. by 35.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,109 shares of the blue-jean maker's stock worth $49,000 after buying an additional 812 shares during the last quarter. Institutional investors own 69.14% of the company's stock.

Levi Strauss & Co. Company Profile

Levi Strauss & Co engages in the design, marketing, and sale of apparel products. The company offers jeans, casual and dress pants, tops, shorts, skirts, jackets, footwear, and related accessories. It operates through the following geographical segments: Americas, Europe, and Asia. The company was founded by Levi Strauss in 1853 and is headquartered in San Francisco, CA.

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