VF (NYSE:VFC) Raised to “Equal Weight” at Wells Fargo & Company

VF (NYSE:VFC) was upgraded by investment analysts at Wells Fargo & Company from an “underweight” rating to an “equal weight” rating in a note issued to investors on Wednesday, Marketbeat.com reports. The brokerage presently has a $12.00 price target on the textile maker’s stock, down from their prior price target of $18.00. Wells Fargo & Company‘s price objective indicates a potential downside of 1.48% from the stock’s previous close.

Several other research analysts have also commented on VFC. OTR Global upgraded VF from a “mixed” rating to a “positive” rating in a research report on Friday, January 10th. Piper Sandler cut their target price on VF from $18.00 to $12.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Robert W. Baird increased their price target on VF from $23.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Barclays boosted their price objective on shares of VF from $29.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Finally, Truist Financial restated a “hold” rating and issued a $24.00 target price (up previously from $20.00) on shares of VF in a 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 given a buy rating to the company’s stock. According to data from MarketBeat, VF presently has an average rating of “Hold” and an average price target of $21.40.

VF Stock Up 2.5 %

NYSE VFC opened at $12.18 on Wednesday. The stock has a 50 day moving average price of $15.26 and a 200-day moving average price of $19.70. VF has a one year low of $9.41 and a one year high of $29.02. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.00 and a current ratio of 1.56. The company has a market capitalization of $4.74 billion, a P/E ratio of -10.24, a P/E/G ratio of 6.77 and a beta of 1.57.

VF (NYSE:VFC) last released its quarterly earnings data on Wednesday, January 29th. The textile maker reported $0.62 EPS for the quarter, beating the consensus estimate of $0.34 by $0.28. VF had a negative net margin of 4.63% and a positive return on equity of 14.86%. During the same quarter last year, the company earned $0.57 earnings per share. As a group, equities analysts predict that VF will post 0.73 EPS for the current fiscal year.

Institutional Investors Weigh In On VF

Hedge funds have recently modified their holdings of the business. CKW Financial Group raised its position in shares of VF by 29.4% in the 4th quarter. CKW Financial Group now owns 2,200 shares of the textile maker’s stock worth $47,000 after acquiring an additional 500 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its holdings in VF by 100.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 6,017 shares of the textile maker’s stock worth $129,000 after purchasing an additional 3,008 shares in the last quarter. Fiduciary Alliance LLC lifted its position in shares of VF by 6.8% during the fourth quarter. Fiduciary Alliance LLC now owns 256,531 shares of the textile maker’s stock valued at $5,505,000 after buying an additional 16,431 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of VF in the 1st quarter worth approximately $350,000. Finally, Amalgamated Bank raised its stake in shares of VF by 46.2% during the 1st quarter. Amalgamated Bank now owns 152,410 shares of the textile maker’s stock worth $2,365,000 after acquiring an additional 48,151 shares in the last quarter. Hedge funds and other institutional investors own 86.84% of the company’s stock.

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.