Wells Fargo & Company Issues Positive Forecast for VF (NYSE:VFC) Stock Price

VF (NYSE:VFC) had its target price raised by equities researchers at Wells Fargo & Company from $17.00 to $21.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “underweight” rating on the textile maker’s stock. Wells Fargo & Company‘s price target would suggest a potential downside of 21.87% from the stock’s previous close.

Several other equities research analysts have also issued reports on the stock. Robert W. Baird boosted their price target on shares of VF from $23.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday. UBS Group raised their price target on VF from $24.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday. JPMorgan Chase & Co. increased their price target on VF from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Barclays upped their target price on shares of VF from $29.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Jefferies Financial Group lifted their price target on shares of VF from $21.00 to $24.00 and gave the company a “hold” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, VF has a consensus rating of “Hold” and an average target price of $22.47.

VF Price Performance

Shares of NYSE:VFC traded up $1.32 during trading hours on Thursday, hitting $26.88. 7,995,182 shares of the company’s stock traded hands, compared to its average volume of 6,849,629. The company’s fifty day simple moving average is $22.12 and its two-hundred day simple moving average is $19.65. The company has a market cap of $10.46 billion, a price-to-earnings ratio of -15.54, a price-to-earnings-growth ratio of 9.74 and a beta of 1.45. The company has a debt-to-equity ratio of 2.86, a quick ratio of 0.88 and a current ratio of 1.30. VF has a 52 week low of $11.00 and a 52 week high of $29.02.

VF (NYSE:VFC) last released its earnings results on Wednesday, January 29th. The textile maker reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.28. VF had a negative net margin of 6.68% and a positive return on equity of 12.53%. During the same period in the prior year, the business posted $0.57 earnings per share. As a group, equities analysts anticipate that VF will post 0.48 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Sei Investments Co. boosted its holdings in shares of VF by 26.7% during the 2nd quarter. Sei Investments Co. now owns 207,120 shares of the textile maker’s stock valued at $2,796,000 after acquiring an additional 43,697 shares during the last quarter. Bank of Montreal Can grew its stake in VF by 127.6% during the second quarter. Bank of Montreal Can now owns 62,046 shares of the textile maker’s stock valued at $878,000 after acquiring an additional 286,878 shares in the last quarter. Algert Global LLC purchased a new stake in shares of VF in the second quarter worth about $449,000. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of VF by 90.7% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 202,723 shares of the textile maker’s stock valued at $2,737,000 after acquiring an additional 96,442 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in VF during the second quarter worth $241,000. 86.84% of the stock is owned by hedge funds and other institutional investors.

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.