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

VF (NYSE:VFC) had its price target cut by analysts at Wells Fargo & Company from $21.00 to $18.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “underweight” rating on the textile maker’s stock. Wells Fargo & Company‘s target price indicates a potential downside of 5.88% from the stock’s current price.

Several other brokerages have also recently weighed in on VFC. Truist Financial reaffirmed a “hold” rating and issued a $24.00 price objective (up from $20.00) on shares of VF in a report on Thursday, January 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 price objective on shares of VF in a report on Friday. JPMorgan Chase & Co. lifted their price objective on VF from $20.00 to $23.00 and gave the company a “neutral” rating in a report on Thursday, January 16th. Robert W. Baird lifted their price objective on VF from $23.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Finally, UBS Group lifted their price target on VF from $24.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $22.90.

VF Stock Performance

NYSE:VFC opened at $19.13 on Friday. The stock has a market cap of $7.45 billion, a P/E ratio of -16.07, a PEG ratio of 6.77 and a beta of 1.46. The stock has a 50 day simple moving average of $24.02 and a 200 day simple moving average of $21.20. The company has a current ratio of 1.56, a quick ratio of 1.00 and a debt-to-equity ratio of 2.31. VF has a 1-year low of $11.00 and a 1-year high of $29.02.

VF (NYSE:VFC) last announced its quarterly earnings data on Wednesday, January 29th. The textile maker reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.28. VF had a positive return on equity of 14.86% and a negative net margin of 4.63%. During the same period in the previous year, the firm posted $0.57 earnings per share. Research analysts anticipate that VF will post 0.73 earnings per share for the current year.

Institutional Investors Weigh In On VF

Hedge funds and other institutional investors have recently bought and sold shares of the company. CKW Financial Group grew 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 valued at $47,000 after buying an additional 500 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of VF by 100.0% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 6,017 shares of the textile maker’s stock valued at $129,000 after buying an additional 3,008 shares during the last quarter. TB Alternative Assets Ltd. bought a new stake in shares of VF in the 4th quarter valued at about $1,878,000. Fiduciary Alliance LLC grew its position in shares of VF by 6.8% in the 4th 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. Finally, Segall Bryant & Hamill LLC grew its position in shares of VF by 1.8% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 3,663,341 shares of the textile maker’s stock valued at $73,084,000 after buying an additional 65,919 shares during the last quarter. 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.