V.F. (NYSE:VFC) Price Target Lowered to $21.00 at Needham & Company LLC

V.F. (NYSE:VFC) had its price target reduced by investment analysts at Needham & Company LLC from $25.00 to $21.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the textile maker’s stock. Needham & Company LLC’s price objective points to a potential upside of 39.37% from the stock’s current price.

VFC has been the subject of a number of other reports. Zacks Research lowered shares of V.F. from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Evercore set a $18.00 target price on shares of V.F. in a research note on Thursday, May 21st. Barclays cut their price target on shares of V.F. from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, May 21st. Williams Trading set a $19.00 price target on shares of V.F. in a research report on Sunday, May 17th. Finally, UBS Group decreased their price objective on shares of V.F. from $20.00 to $18.00 and set a “neutral” rating for the company in a report on Thursday, May 21st. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, V.F. currently has a consensus rating of “Hold” and a consensus price target of $18.58.

V.F. Stock Down 17.4%

Shares of NYSE VFC traded down $3.18 during trading on Wednesday, reaching $15.07. The company had a trading volume of 11,591,547 shares, compared to its average volume of 7,107,964. V.F. has a 12-month low of $11.10 and a 12-month high of $22.27. The company has a quick ratio of 1.21, a current ratio of 1.84 and a debt-to-equity ratio of 1.90. The business’s 50-day moving average is $16.91 and its 200 day moving average is $18.11. The stock has a market cap of $5.91 billion, a PE ratio of 23.59, a P/E/G ratio of 1.20 and a beta of 1.56.

V.F. (NYSE:VFC) last posted its quarterly earnings results on Wednesday, July 29th. The textile maker reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.05). The company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.64 billion. V.F. had a return on equity of 21.05% and a net margin of 2.65%.V.F.’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.24) EPS. As a group, equities analysts forecast that V.F. will post 1.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Richard Carucci bought 30,000 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was acquired at an average cost of $17.17 per share, for a total transaction of $515,100.00. Following the purchase, the director owned 336,043 shares in the company, valued at approximately $5,769,858.31. This represents a 9.80% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.54% of the company’s stock.

Institutional Trading of V.F.

A number of hedge funds have recently bought and sold shares of VFC. Parallel Advisors LLC lifted its holdings in V.F. by 27.9% in the first quarter. Parallel Advisors LLC now owns 2,694 shares of the textile maker’s stock valued at $46,000 after acquiring an additional 588 shares during the period. Root Financial Partners LLC boosted its position in V.F. by 282.9% in the first quarter. Root Financial Partners LLC now owns 3,052 shares of the textile maker’s stock worth $52,000 after purchasing an additional 2,255 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of V.F. by 151.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 6,915 shares of the textile maker’s stock valued at $125,000 after purchasing an additional 4,167 shares during the period. Versant Capital Management Inc increased its position in shares of V.F. by 213.7% during the 2nd quarter. Versant Capital Management Inc now owns 8,078 shares of the textile maker’s stock valued at $135,000 after purchasing an additional 5,503 shares during the last quarter. Finally, Quent Capital LLC increased its position in shares of V.F. by 1,635.2% during the 4th quarter. Quent Capital LLC now owns 13,170 shares of the textile maker’s stock valued at $238,000 after purchasing an additional 12,411 shares during the last quarter. Hedge funds and other institutional investors own 86.84% of the company’s stock.

Key Headlines Impacting V.F.

Here are the key news stories impacting V.F. this week:

• Positive Sentiment: V.F. reported quarterly revenue of $1.67 billion, above the $1.64 billion analyst consensus. Management also indicated that the first-quarter outlook improved and appointed Abhishek Dalmia as executive vice president and chief financial officer, potentially strengthening financial oversight during the turnaround. VF Names New CFO as Q1 Outlook Improves
• Neutral Sentiment: The stock had risen ahead of the earnings release as investors anticipated progress at The North Face, Timberland and Vans, along with improving margins and lower debt. That positioning increased the potential for profit-taking when the quarterly numbers failed to fully meet expectations. VF Corporation rises ahead of earnings as turnaround hopes build
• Negative Sentiment: V.F. posted a loss of $0.27 per share, missing the expected $0.22 loss and worsening from a $0.24 loss in the prior-year quarter. Revenue declined 5.2% year over year, indicating that the recovery remains uneven despite revenue exceeding the latest estimate. V.F. Reports Q1 Loss, Misses Revenue Estimates
• Negative Sentiment: The earnings miss is particularly disappointing because V.F. had recently reinstated fiscal-year guidance and was being valued on expectations of an improving turnaround. Investors may now demand clearer evidence of sustainable earnings growth, margin expansion and debt reduction.

V.F. Company Profile

VF Corporation, commonly branded as VF, is a global apparel and footwear company that develops, markets and distributes a diverse portfolio of consumer brands. Its offerings span outdoor and action sports apparel, footwear and accessories under marquee names such as The North Face, Vans, Timberland, Dickies, JanSport and Smartwool. Through a “house of brands” strategy, VF leverages the unique heritage and design expertise of each label to serve distinct lifestyle and performance segments.

Founded in 1899 in Pennsylvania as the Reading Glove and Mitten Manufacturing Company, VF evolved through a series of acquisitions and strategic expansions to become a leading player in the global apparel industry.