Telsey Advisory Group Cuts VF (VFC) Price Target to $88.00

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VF (NYSE:VFC) had its target price cut by stock analysts at Telsey Advisory Group from $107.00 to $88.00 in a research report issued to clients and investors on Monday. The brokerage currently has an “outperform” rating on the textile maker’s stock. Telsey Advisory Group’s target price suggests a potential upside of 23.15% from the stock’s current price.

A number of other brokerages have also commented on VFC. Citigroup decreased their price target on shares of VF from $95.00 to $92.00 and set a “neutral” rating on the stock in a report on Monday, October 22nd. Royal Bank of Canada reduced their price objective on shares of VF to $88.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 23rd. Credit Suisse Group reduced their price target on shares of VF from $105.00 to $98.00 and set an “outperform” rating on the stock in a research report on Monday, October 22nd. Wedbush initiated coverage on shares of VF in a research note on Monday, October 15th. They set a “neutral” rating and a $94.00 price objective for the company. They noted that the move was a valuation call. Finally, Canaccord Genuity set a $108.00 target price on shares of VF and gave the company a “buy” rating in a research note on Monday, October 22nd. Nine investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $93.25.

VF stock opened at $71.46 on Monday. VF has a fifty-two week low of $67.18 and a fifty-two week high of $97.00. The stock has a market cap of $29.67 billion, a P/E ratio of 23.98, a PEG ratio of 1.82 and a beta of 1.01. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.90 and a current ratio of 1.54.

VF (NYSE:VFC) last released its earnings results on Friday, October 19th. The textile maker reported $1.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.10. VF had a net margin of 6.20% and a return on equity of 37.08%. The firm had revenue of $3.91 billion for the quarter, compared to analysts’ expectations of $3.87 billion. During the same period in the previous year, the company earned $1.23 earnings per share. The company’s quarterly revenue was up 15.2% on a year-over-year basis. As a group, research analysts anticipate that VF will post 3.68 earnings per share for the current year.

In other VF news, Director Richard Carucci bought 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 24th. The stock was purchased at an average price of $78.65 per share, for a total transaction of $393,250.00. Following the completion of the purchase, the director now directly owns 48,190 shares in the company, valued at $3,790,143.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.72% of the company’s stock.

A number of hedge funds have recently bought and sold shares of VFC. IMS Capital Management acquired a new position in VF during the third quarter worth approximately $116,000. Centaurus Financial Inc. acquired a new position in VF during the second quarter worth approximately $119,000. NEXT Financial Group Inc acquired a new position in VF during the third quarter worth approximately $169,000. Garrison Financial Corp acquired a new position in VF during the third quarter worth approximately $202,000. Finally, First Hawaiian Bank increased its position in VF by 7.4% during the fourth quarter. First Hawaiian Bank now owns 2,850 shares of the textile maker’s stock worth $203,000 after buying an additional 197 shares during the period. Hedge funds and other institutional investors own 83.55% of the company’s stock.

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.

See Also: Earnings Per Share

Analyst Recommendations for VF (NYSE:VFC)

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