Levi Strauss & Co. (NYSE:LEVI) Releases Earnings Results, Beats Estimates By $0.02 EPS

Levi Strauss & Co. (NYSE:LEVI) announced its earnings results on Wednesday. The blue-jean maker reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.02, FiscalAI reports. The business had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.71 billion. Levi Strauss & Co. had a net margin of 9.48% and a return on equity of 27.92%.

Levi Strauss & Co. Trading Down 3.5%

Shares of LEVI traded down $0.74 during trading on Wednesday, reaching $20.51. 3,974,428 shares of the company traded hands, compared to its average volume of 1,967,462. Levi Strauss & Co. has a twelve month low of $12.17 and a twelve month high of $24.82. The company has a quick ratio of 0.87, a current ratio of 1.52 and a debt-to-equity ratio of 0.48. The stock has a 50-day simple moving average of $21.47 and a 200-day simple moving average of $21.51. The stock has a market cap of $8.01 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 1.43 and a beta of 1.33.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. UBS Group boosted their target price on Levi Strauss & Co. from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Raymond James Financial initiated coverage on shares of Levi Strauss & Co. in a report on Tuesday, December 23rd. They issued an “outperform” rating and a $26.00 price target for the company. Bank of America boosted their price objective on Levi Strauss & Co. from $26.00 to $27.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Morgan Stanley upped their price objective on shares of Levi Strauss & Co. from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Friday, October 10th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $27.00 target price on shares of Levi Strauss & Co. in a research report on Wednesday, January 21st. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Levi Strauss & Co. has a consensus rating of “Moderate Buy” and an average target price of $26.46.

Institutional Investors Weigh In On Levi Strauss & Co.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Oberweis Asset Management Inc. acquired a new stake in Levi Strauss & Co. in the third quarter valued at $21,052,000. Caxton Associates LLP purchased a new stake in Levi Strauss & Co. in the third quarter valued at approximately $241,000. PDT Partners LLC raised its holdings in Levi Strauss & Co. by 20.8% in the third quarter. PDT Partners LLC now owns 337,375 shares of the blue-jean maker’s stock valued at $7,861,000 after buying an additional 58,141 shares during the period. Prosperity Wealth Management Inc. purchased a new stake in shares of Levi Strauss & Co. during the third quarter valued at approximately $442,000. Finally, Qube Research & Technologies Ltd boosted its holdings in Levi Strauss & Co. by 27.9% in the third quarter. Qube Research & Technologies Ltd now owns 1,909,810 shares of the blue-jean maker’s stock valued at $44,499,000 after purchasing an additional 416,555 shares during the last quarter. Institutional investors and hedge funds own 69.14% of the company’s stock.

Levi Strauss & Co. Company Profile

Levi Strauss & Co is a global apparel company best known for its denim jeans and casual wear. Founded in 1853 in San Francisco by Bavarian immigrant Levi Strauss, the company pioneered the modern blue jean with the introduction of rivet-reinforced work pants. Over its more than 160-year history, Levi Strauss has evolved into a lifestyle brand, offering a broad portfolio that includes denim for men, women and children, as well as tops, outerwear, footwear and accessories.

The company’s flagship label, Levi’s®, is recognized worldwide for its iconic styles such as the 501® Original Fit Jeans, while additional brands, including Dockers®, Target core metric, and Denizen® by Levi’s, cater to diverse price points and consumer segments.