VF (NYSE:VFC) Price Target Cut to $13.00 by Analysts at Truist Financial

VF (NYSE:VFC) had its price target lowered by analysts at Truist Financial from $24.00 to $13.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the textile maker’s stock. Truist Financial’s price target would suggest a potential upside of 6.92% from the stock’s previous close.

A number of other brokerages have also recently issued reports on VFC. The Goldman Sachs Group cut their target price on shares of VF from $25.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, April 22nd. BMO Capital Markets lifted their price objective on VF from $14.00 to $25.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Needham & Company LLC reduced their target price on VF from $28.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday. Barclays dropped their price target on VF from $34.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday, May 12th. Finally, Jefferies Financial Group upped their price objective on VF from $21.00 to $24.00 and gave the company a “hold” rating in a research report on Tuesday, January 28th. 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. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $18.10.

VF Trading Up 0.1%

Shares of VF stock opened at $12.16 on Thursday. VF has a 12-month low of $9.41 and a 12-month high of $29.02. The stock has a market cap of $4.74 billion, a PE ratio of -10.15, a price-to-earnings-growth ratio of 6.77 and a beta of 1.68. The company has a 50-day moving average of $13.21 and a two-hundred day moving average of $19.18. The company has a current ratio of 1.56, a quick ratio of 1.00 and a debt-to-equity ratio of 2.31.

VF (NYSE:VFC) last posted its earnings results on Wednesday, May 21st. The textile maker reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.01. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.17 billion. VF had a positive return on equity of 14.86% and a negative net margin of 4.63%. VF’s revenue was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.32) earnings per share. On average, research analysts anticipate that VF will post 0.73 EPS for the current fiscal year.

Institutional Investors Weigh In On VF

Several institutional investors and hedge funds have recently added to or reduced their stakes in VFC. Segall Bryant & Hamill LLC boosted its position in shares of VF by 5.8% in the fourth quarter. Segall Bryant & Hamill LLC now owns 3,874,781 shares of the textile maker’s stock worth $83,153,000 after buying an additional 211,440 shares during the period. Rhumbline Advisers increased its position in shares of VF by 11.0% during the first quarter. Rhumbline Advisers now owns 928,753 shares of the textile maker’s stock worth $14,414,000 after acquiring an additional 92,174 shares during the last quarter. GAMMA Investing LLC grew its stake in VF by 1,355.2% during the 1st quarter. GAMMA Investing LLC now owns 404,405 shares of the textile maker’s stock valued at $6,276,000 after purchasing an additional 376,615 shares in the last quarter. Fiduciary Alliance LLC boosted its stake in shares of VF by 16.4% during the 1st quarter. Fiduciary Alliance LLC now owns 298,596 shares of the textile maker’s stock valued at $4,634,000 after buying an additional 42,065 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of VF by 11.1% in the first quarter. Russell Investments Group Ltd. now owns 277,442 shares of the textile maker’s stock worth $4,306,000 after buying an additional 27,727 shares during the last quarter. 86.84% of the stock is currently owned by institutional investors and hedge funds.

VF Company Profile

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.