Levi Strauss & Co. (NYSE:LEVI) Downgraded to Hold at Zacks Investment Research

Levi Strauss & Co. (NYSE:LEVIGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, Zacks.com reports.

According to Zacks, “Levi Strauss & Co. designs and markets jeans, casual wear and related accessories for men, women and children under the Levi’s(R), Dockers(R), Signature by Levi Strauss & Co.(TM) and Denizen(R)brands. Its products are sold through chain retailers, department stores, online sites and brand-dedicated retail stores and shop-in-shops. Levi Strauss & Co. is based in San Francisco, United States. “

Other equities research analysts have also issued research reports about the company. Wells Fargo & Company lowered their price objective on Levi Strauss & Co. from $28.00 to $25.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 5th. TheStreet lowered Levi Strauss & Co. from a “b-” rating to a “c+” rating in a research report on Thursday, March 10th. JPMorgan Chase & Co. lowered their price objective on Levi Strauss & Co. from $32.00 to $27.00 in a research report on Monday, April 11th. Guggenheim restated a “buy” rating and issued a $33.00 price objective on shares of Levi Strauss & Co. in a research report on Friday, April 1st. Finally, Telsey Advisory Group lowered their price objective on Levi Strauss & Co. from $34.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, January 27th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Levi Strauss & Co. presently has a consensus rating of “Buy” and an average target price of $30.69.

Shares of NYSE:LEVI opened at $17.88 on Friday. Levi Strauss & Co. has a twelve month low of $15.76 and a twelve month high of $30.09. The company’s 50 day moving average is $18.76 and its 200 day moving average is $21.85. The company has a current ratio of 1.55, a quick ratio of 0.95 and a debt-to-equity ratio of 0.59. The company has a market cap of $7.09 billion, a PE ratio of 12.08, a price-to-earnings-growth ratio of 1.33 and a beta of 1.06.

Levi Strauss & Co. (NYSE:LEVIGet Rating) last issued its quarterly earnings results on Wednesday, April 6th. The blue-jean maker reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.04. Levi Strauss & Co. had a net margin of 10.03% and a return on equity of 40.41%. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the prior year, the company earned $0.34 EPS. Levi Strauss & Co.’s quarterly revenue was up 21.9% on a year-over-year basis. Equities research analysts predict that Levi Strauss & Co. will post 1.55 earnings per share for the current fiscal year.

In other Levi Strauss & Co. news, EVP Seth Jaffe sold 13,280 shares of the firm’s stock in a transaction on Thursday, March 31st. The stock was sold at an average price of $20.23, for a total value of $268,654.40. Following the transaction, the executive vice president now owns 148,299 shares in the company, valued at approximately $3,000,088.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 39,860 shares of company stock worth $815,983 in the last 90 days. 3.69% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the business. Neuberger Berman Group LLC increased its stake in shares of Levi Strauss & Co. by 222.7% in the 1st quarter. Neuberger Berman Group LLC now owns 48,440 shares of the blue-jean maker’s stock worth $957,000 after acquiring an additional 33,429 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Levi Strauss & Co. by 106.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 64,411 shares of the blue-jean maker’s stock worth $1,273,000 after acquiring an additional 33,185 shares during the last quarter. Walleye Capital LLC acquired a new stake in shares of Levi Strauss & Co. in the 1st quarter worth $2,495,000. Virtu Financial LLC acquired a new stake in shares of Levi Strauss & Co. in the 1st quarter worth $330,000. Finally, Quantbot Technologies LP increased its stake in shares of Levi Strauss & Co. by 99.1% in the 1st quarter. Quantbot Technologies LP now owns 62,616 shares of the blue-jean maker’s stock worth $1,237,000 after acquiring an additional 31,164 shares during the last quarter. Institutional investors own 70.69% of the company’s stock.

Levi Strauss & Co. Company Profile (Get Rating)

Levi Strauss & Co operates as an apparel company. The company designs, markets, and sells jeans, casual and dress pants, activewear, tops, shorts, skirts, dresses, jackets, footwear, and related accessories for men, women, and children in the Americas, Europe, and Asia. It also sells its products under the Levi's, Dockers, Signature by Levi Strauss & Co, and Denizen brands.

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