VF (NYSE:VFC) Price Target Cut to $12.00 by Analysts at Wells Fargo & Company

VF (NYSE:VFC - Get Free Report) had its price target reduced by Wells Fargo & Company from $13.00 to $12.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an "equal weight" rating on the textile maker's stock. Wells Fargo & Company's target price would indicate a potential downside of 1.45% from the company's previous close.

A number of other analysts have also recently issued reports on the company. Citigroup cut VF from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $30.00 to $12.00 in a research note on Monday, April 7th. Piper Sandler lowered their price target on shares of VF from $18.00 to $12.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Stifel Nicolaus decreased their price objective on VF from $35.00 to $28.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Needham & Company LLC cut their price target on VF from $28.00 to $15.00 and set a "buy" rating for the company in a report on Wednesday. Finally, Robert W. Baird increased their price objective on shares of VF from $23.00 to $28.00 and gave the company a "neutral" rating in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, VF currently has a consensus rating of "Hold" and a consensus target price of $18.65.

VF Price Performance

VF stock opened at $12.18 on Thursday. The business has a 50 day simple moving average of $13.21 and a 200 day simple moving average of $19.18. VF has a one year low of $9.41 and a one year high of $29.02. The company has a market capitalization of $4.74 billion, a PE ratio of -10.23, a price-to-earnings-growth ratio of 6.77 and a beta of 1.68. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.56 and a quick ratio of 1.00.

VF (NYSE:VFC - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The textile maker reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.01. VF had a negative net margin of 4.63% and a positive return on equity of 14.86%. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same period last year, the firm posted ($0.32) EPS. The firm's quarterly revenue was down 4.6% on a year-over-year basis. On average, sell-side analysts forecast that VF will post 0.73 EPS for the current fiscal year.

Institutional Trading of VF

Large investors have recently bought and sold shares of the company. CKW Financial Group boosted its holdings in shares of VF by 29.4% during the 4th quarter. CKW Financial Group now owns 2,200 shares of the textile maker's stock valued at $47,000 after buying an additional 500 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of VF during the first quarter valued at $350,000. Entropy Technologies LP purchased a new stake in shares of VF during the first quarter valued at $749,000. Amalgamated Bank raised its stake in shares of VF by 46.2% in the first quarter. Amalgamated Bank now owns 152,410 shares of the textile maker's stock worth $2,365,000 after buying an additional 48,151 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in shares of VF by 11.1% during the 1st quarter. Russell Investments Group Ltd. now owns 277,442 shares of the textile maker's stock valued at $4,306,000 after buying an additional 27,727 shares in the last quarter. 86.84% of the stock is owned by institutional investors.

About VF

VF Corp. engages in the business of producing and marketing apparel, footwear, and accessories. It operates through the following segments: Outdoor, Active, Work, and Other. The Outdoor segment includes authentic outdoor-based lifestyle brands such as performance-based and outdoor apparel, footwear, and equipment.

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