Levi Strauss & Co. (NYSE:LEVI) Stock Rating Upgraded by Zacks Investment Research

Levi Strauss & Co. (NYSE:LEVIGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports. The brokerage presently has a $20.00 price target on the blue-jean maker’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 8.46% from the stock’s previous close.

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. “

Several other equities research analysts have also recently commented on the company. The Goldman Sachs Group cut their price target on Levi Strauss & Co. from $30.00 to $26.00 and set a “buy” rating for the company in a report on Thursday, April 7th. TheStreet downgraded Levi Strauss & Co. from a “b-” rating to a “c+” rating in a report on Thursday, March 10th. UBS Group cut their target price on Levi Strauss & Co. from $37.00 to $34.00 and set a “buy” rating on the stock in a research report on Thursday, April 7th. JPMorgan Chase & Co. dropped their price target on Levi Strauss & Co. from $32.00 to $27.00 in a research report on Monday, April 11th. Finally, Wells Fargo & Company dropped their target price 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. Thirteen research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $30.77.

NYSE LEVI opened at $18.44 on Tuesday. The company has a market cap of $7.31 billion, a PE ratio of 12.46, a price-to-earnings-growth ratio of 1.49 and a beta of 1.06. The stock’s 50 day simple moving average is $18.66 and its 200-day simple moving average is $21.65. Levi Strauss & Co. has a 1-year low of $15.76 and a 1-year high of $30.09. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.55 and a quick ratio of 0.95.

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

In other news, EVP Seth Jaffe sold 13,280 shares of the company’s stock in a transaction that occurred on Thursday, March 31st. The shares were sold at an average price of $20.23, for a total transaction of $268,654.40. Following the transaction, the executive vice president now directly owns 148,299 shares in the company, valued at $3,000,088.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.69% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in LEVI. BlackRock Inc. boosted its holdings in shares of Levi Strauss & Co. by 93.4% during the third quarter. BlackRock Inc. now owns 4,083,281 shares of the blue-jean maker’s stock worth $100,083,000 after acquiring an additional 1,971,746 shares during the period. Cambridge Trust Co. raised its position in Levi Strauss & Co. by 387.5% during the first quarter. Cambridge Trust Co. now owns 2,072,760 shares of the blue-jean maker’s stock valued at $40,958,000 after purchasing an additional 1,647,540 shares in the last quarter. American Century Companies Inc. raised its position in Levi Strauss & Co. by 9,764.1% during the fourth quarter. American Century Companies Inc. now owns 1,264,770 shares of the blue-jean maker’s stock valued at $31,657,000 after purchasing an additional 1,251,948 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Levi Strauss & Co. by 20.5% during the first quarter. Wellington Management Group LLP now owns 6,365,036 shares of the blue-jean maker’s stock worth $125,773,000 after buying an additional 1,084,969 shares in the last quarter. Finally, Broad Bay Capital Management LP increased its holdings in shares of Levi Strauss & Co. by 150.4% during the third quarter. Broad Bay Capital Management LP now owns 1,753,000 shares of the blue-jean maker’s stock worth $42,966,000 after buying an additional 1,053,000 shares in the last quarter. Hedge funds and other institutional investors own 70.69% of the company’s stock.

About Levi Strauss & Co. (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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Analyst Recommendations for Levi Strauss & Co. (NYSE:LEVI)

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