Guggenheim Forecasts Strong Price Appreciation for VF (NYSE:VFC) Stock

VF (NYSE:VFC) had its price objective lifted by analysts at Guggenheim from $25.00 to $27.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the textile maker’s stock. Guggenheim’s price objective would indicate a potential upside of 26.46% from the stock’s previous close.

VFC has been the subject of several other reports. TD Cowen boosted their price objective on VF from $16.00 to $19.00 and gave the company a “hold” rating in a report on Tuesday, October 29th. Robert W. Baird boosted their price target on shares of VF from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Argus raised VF to a “hold” rating in a research note on Wednesday, August 28th. Barclays lifted their price target on VF from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Finally, Citigroup boosted their price objective on VF from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $18.78.

VF Price Performance

Shares of VFC traded up $0.50 during trading hours on Wednesday, reaching $21.35. 865,224 shares of the company traded hands, compared to its average volume of 7,972,109. VF has a fifty-two week low of $11.00 and a fifty-two week high of $23.09. The stock has a market capitalization of $8.31 billion, a PE ratio of -12.34, a price-to-earnings-growth ratio of 8.18 and a beta of 1.49. The stock has a fifty day simple moving average of $19.98 and a 200 day simple moving average of $17.32. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 2.86.

VF (NYSE:VFC) last posted its quarterly earnings results on Monday, October 28th. The textile maker reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.19. VF had a negative net margin of 6.68% and a positive return on equity of 12.53%. The company had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.72 billion. During the same quarter last year, the firm posted $0.63 earnings per share. VF’s revenue was down 5.6% on a year-over-year basis. As a group, research analysts predict that VF will post 0.48 EPS for the current fiscal year.

Hedge Funds Weigh In On VF

A number of large investors have recently modified their holdings of the stock. Future Financial Wealth Managment LLC bought a new position in shares of VF during the 3rd quarter valued at about $40,000. Abich Financial Wealth Management LLC bought a new stake in VF in the 2nd quarter valued at approximately $60,000. Banque Cantonale Vaudoise boosted its position in VF by 113.3% during the 2nd quarter. Banque Cantonale Vaudoise now owns 6,860 shares of the textile maker’s stock worth $93,000 after acquiring an additional 3,644 shares during the last quarter. 1620 Investment Advisors Inc. bought a new position in shares of VF during the 2nd quarter worth approximately $103,000. Finally, Kessler Investment Group LLC raised its holdings in shares of VF by 49.2% in the second quarter. Kessler Investment Group LLC now owns 9,347 shares of the textile maker’s stock valued at $126,000 after purchasing an additional 3,084 shares during the last quarter. 86.84% of the stock is currently owned by institutional investors and hedge funds.

About VF

V.F. Corporation, together with its subsidiaries, engages in the design, procurement, marketing, and distribution of branded lifestyle apparel, footwear, and accessories for men, women, and children in the Americas, Europe, and the Asia-Pacific. It operates through three segments: Outdoor, Active, and Work.