VF (NYSE:VFC) Receives Hold Rating from Truist Financial

VF (NYSE:VFC)‘s stock had its “hold” rating reaffirmed by analysts at Truist Financial in a report released on Thursday,Benzinga reports. They presently have a $24.00 price objective on the textile maker’s stock, up from their previous price objective of $20.00. Truist Financial’s price target would suggest a potential downside of 7.64% from the stock’s previous close.

VFC has been the subject of a number of other research reports. Barclays raised their price target on shares of VF from $29.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday. Wells Fargo & Company lowered shares of VF from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $16.00 to $15.00 in a report on Monday, October 14th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $21.00 target price on shares of VF in a report on Wednesday. Robert W. Baird lifted their target price on shares of VF from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. lifted their target price on shares of VF from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, VF has an average rating of “Hold” and a consensus target price of $22.47.

VF Stock Performance

Shares of VF stock opened at $25.99 on Thursday. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.30 and a quick ratio of 0.88. The firm has a market cap of $10.12 billion, a P/E ratio of -21.84, a P/E/G ratio of 10.01 and a beta of 1.45. The firm has a 50 day simple moving average of $22.28 and a 200 day simple moving average of $19.70. VF has a fifty-two week low of $11.00 and a fifty-two week high of $29.02.

VF (NYSE:VFC) last issued its quarterly earnings results on Wednesday, January 29th. The textile maker reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.28. VF had a negative net margin of 4.63% and a positive return on equity of 15.35%. During the same period last year, the company earned $0.57 earnings per share. Sell-side analysts predict that VF will post 0.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On VF

Several institutional investors have recently added to or reduced their stakes in VFC. Segall Bryant & Hamill LLC lifted its position in VF by 1.8% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 3,663,341 shares of the textile maker’s stock worth $73,084,000 after buying an additional 65,919 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its position in VF by 90.7% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 202,723 shares of the textile maker’s stock worth $2,737,000 after buying an additional 96,442 shares in the last quarter. Hanseatic Management Services Inc. bought a new stake in VF during the 3rd quarter worth about $640,000. TB Alternative Assets Ltd. bought a new stake in VF during the 4th quarter worth about $1,878,000. Finally, Handelsbanken Fonder AB lifted its position in VF by 40.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 107,700 shares of the textile maker’s stock worth $2,149,000 after buying an additional 30,800 shares in the last quarter. 86.84% of the stock is owned by 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.