VF (NYSE:VFC) Price Target Lowered to $15.00 at Needham & Company LLC

VF (NYSE:VFC) had its price objective trimmed by Needham & Company LLC from $28.00 to $15.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the textile maker’s stock.

VFC has been the subject of a number of other research reports. UBS Group upped their price objective on shares of VF from $12.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday. Barclays reduced their price target on shares of VF from $34.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday, May 12th. Stifel Nicolaus reduced their price target on shares of VF from $35.00 to $28.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Piper Sandler reduced their price target on shares of VF from $18.00 to $12.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Finally, Citigroup downgraded shares of VF from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $30.00 to $12.00 in a research report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $18.70.

VF Trading Down 15.6%

Shares of VF stock opened at $12.18 on Wednesday. The firm has a 50-day simple moving average of $13.21 and a two-hundred day simple moving average of $19.18. The company has a market cap of $4.74 billion, a P/E ratio of -10.23, a price-to-earnings-growth ratio of 6.77 and a beta of 1.68. VF has a fifty-two week low of $9.41 and a fifty-two week 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.

VF (NYSE:VFC) last issued its quarterly earnings data on Wednesday, May 21st. The textile maker reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.01. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.17 billion. VF had a negative net margin of 4.63% and a positive return on equity of 14.86%. The company’s revenue was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.32) earnings per share. As a group, equities analysts predict that VF will post 0.73 earnings per share for the current fiscal year.

Institutional Trading of VF

Several hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. grew its stake in shares of VF by 11.1% in the 1st quarter. Russell Investments Group Ltd. now owns 277,442 shares of the textile maker’s stock valued at $4,306,000 after buying an additional 27,727 shares during the period. Entropy Technologies LP purchased a new position in shares of VF during the 1st quarter worth approximately $749,000. Amalgamated Bank boosted its position 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 purchasing an additional 48,151 shares during the period. SG Americas Securities LLC purchased a new position in shares of VF during the 1st quarter worth approximately $350,000. Finally, Fiduciary Alliance LLC boosted its position 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 worth $4,634,000 after purchasing an additional 42,065 shares during the period. Hedge funds and other institutional investors own 86.84% of the company’s stock.

About VF

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.