Citigroup Issues Pessimistic Forecast for Levi Strauss & Co. (NYSE:LEVI) Stock Price

Levi Strauss & Co. (NYSE:LEVI) had its price objective reduced by stock analysts at Citigroup from $21.00 to $19.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the blue-jean maker’s stock. Citigroup’s price objective would indicate a potential upside of 7.94% from the stock’s previous close.

A number of other research analysts have also recently weighed in on the company. Stifel Nicolaus lowered their price objective on Levi Strauss & Co. from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. JPMorgan Chase & Co. increased their price objective on shares of Levi Strauss & Co. from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Thursday, October 3rd. TD Cowen dropped their target price on shares of Levi Strauss & Co. from $25.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Barclays started coverage on shares of Levi Strauss & Co. in a research note on Wednesday, January 8th. They set an “overweight” rating and a $24.00 target price for the company. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $26.00 price target on shares of Levi Strauss & Co. in a research note on Wednesday, October 16th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.50.

Levi Strauss & Co. Stock Performance

LEVI traded up $0.03 during trading on Friday, hitting $17.60. The company’s stock had a trading volume of 703,733 shares, compared to its average volume of 1,392,605. The business’s 50 day simple moving average is $17.24 and its 200-day simple moving average is $18.25. The firm has a market cap of $6.98 billion, a PE ratio of 46.33, a P/E/G ratio of 0.97 and a beta of 1.16. Levi Strauss & Co. has a one year low of $15.10 and a one year high of $24.34. The company has a quick ratio of 0.76, a current ratio of 1.41 and a debt-to-equity ratio of 0.54.

Insider Activity

In related news, Director David A. Friedman sold 8,332 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $18.00, for a total value of $149,976.00. Following the transaction, the director now owns 108,344 shares of the company’s stock, valued at $1,950,192. This trade represents a 7.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 3.14% of the company’s stock.

Hedge Funds Weigh In On Levi Strauss & Co.

Hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC purchased a new position in Levi Strauss & Co. during the 2nd quarter worth $380,000. Sei Investments Co. raised its holdings in shares of Levi Strauss & Co. by 8.5% in the second quarter. Sei Investments Co. now owns 228,913 shares of the blue-jean maker’s stock valued at $4,413,000 after acquiring an additional 17,889 shares in the last quarter. Magnetar Financial LLC purchased a new stake in Levi Strauss & Co. in the second quarter worth about $281,000. Lombard Odier Asset Management USA Corp grew its holdings in Levi Strauss & Co. by 6.2% during the 2nd quarter. Lombard Odier Asset Management USA Corp now owns 54,765 shares of the blue-jean maker’s stock worth $1,056,000 after acquiring an additional 3,204 shares in the last quarter. Finally, Davidson Kempner Capital Management LP purchased a new position in Levi Strauss & Co. during the 2nd quarter valued at about $3,219,000. 69.14% of the stock is currently owned by institutional investors.

Levi Strauss & Co. Company Profile

Levi Strauss & Co designs, markets, and sells apparels and related accessories for men, women, and children worldwide. The company offers jeans, casual and dress pants, activewears, tops, shorts, skirts, dresses, jumpsuits, shirts, sweaters, jackets, footwear, and related accessories under the Levi's, Dockers, Signature by Levi Strauss & Co, Denizen, and Beyond Yoga brands.