Bank of America Trims V.F. (NYSE:VFC) Target Price to $11.00

V.F. (NYSE:VFC) had its target price cut by research analysts at Bank of America from $13.00 to $11.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “underperform” rating on the textile maker’s stock. Bank of America‘s target price indicates a potential downside of 8.26% from the stock’s previous close.

VFC has been the topic of several other reports. BNP Paribas restated a “neutral” rating and issued a $14.00 price objective (down from $18.00) on shares of V.F. in a research report on Friday, April 12th. Wells Fargo & Company reduced their target price on V.F. from $14.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Thursday. UBS Group reduced their target price on V.F. from $19.00 to $18.00 and set a “neutral” rating on the stock in a research report on Monday, February 5th. StockNews.com upgraded V.F. from a “sell” rating to a “hold” rating in a research report on Thursday, February 8th. Finally, BMO Capital Markets reduced their target price on V.F. from $18.00 to $13.00 and set a “market perform” rating on the stock in a research report on Thursday. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $14.59.

V.F. Price Performance

VFC stock traded down $0.34 on Thursday, reaching $11.99. 18,453,097 shares of the company’s stock were exchanged, compared to its average volume of 8,787,975. The stock has a fifty day moving average of $13.34 and a 200-day moving average of $15.67. V.F. has a twelve month low of $11.00 and a twelve month high of $21.17. The firm has a market cap of $4.66 billion, a PE ratio of -6.09, a P/E/G ratio of 1.40 and a beta of 1.49. The company has a quick ratio of 0.70, a current ratio of 1.23 and a debt-to-equity ratio of 2.25.

V.F. (NYSE:VFC) last posted its earnings results on Wednesday, May 22nd. The textile maker reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.34). The firm had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.42 billion. V.F. had a positive return on equity of 19.03% and a negative net margin of 7.07%. The firm’s revenue for the quarter was down 13.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.17 earnings per share. As a group, equities analysts predict that V.F. will post 1.06 EPS for the current fiscal year.

Institutional Trading of V.F.

A number of hedge funds and other institutional investors have recently modified their holdings of VFC. Wolff Wiese Magana LLC raised its stake in shares of V.F. by 2,835.6% in the 4th quarter. Wolff Wiese Magana LLC now owns 1,321 shares of the textile maker’s stock worth $25,000 after buying an additional 1,276 shares in the last quarter. Eagle Bay Advisors LLC bought a new stake in shares of V.F. in the 4th quarter worth $25,000. Mather Group LLC. acquired a new stake in shares of V.F. during the first quarter worth $27,000. Future Financial Wealth Managment LLC acquired a new stake in shares of V.F. during the first quarter worth $31,000. Finally, Allworth Financial LP raised its position in shares of V.F. by 111.5% during the fourth quarter. Allworth Financial LP now owns 1,817 shares of the textile maker’s stock worth $34,000 after purchasing an additional 958 shares during the period. Institutional investors own 86.84% of the company’s stock.

V.F. Company Profile

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