The Goldman Sachs Group Issues Positive Forecast for VF (NYSE:VFC) Stock Price

VF (NYSE:VFC) had its price objective increased by research analysts at The Goldman Sachs Group from $22.00 to $25.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the textile maker’s stock. The Goldman Sachs Group’s target price indicates a potential downside of 4.23% from the stock’s current price.

Several other research firms have also recently issued reports on VFC. Citigroup lifted their price objective on shares of VF from $20.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Telsey Advisory Group reissued a “market perform” rating and issued a $21.00 target price on shares of VF in a research note on Wednesday. Robert W. Baird upped their price target on shares of VF from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Wells Fargo & Company cut shares of VF from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $16.00 to $15.00 in a report on Monday, October 14th. Finally, Jefferies Financial Group upped their price target on shares of VF from $21.00 to $24.00 and gave the stock a “hold” rating in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $20.58.

VF Stock Performance

Shares of VFC traded up $0.54 on Thursday, reaching $26.10. The company’s stock had a trading volume of 2,653,836 shares, compared to its average volume of 6,553,433. 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 stock has a market capitalization of $10.16 billion, a P/E ratio of -15.09, a PEG ratio of 9.74 and a beta of 1.45. The stock’s 50 day simple moving average is $22.12 and its two-hundred day simple moving average is $19.65. VF has a 12-month low of $11.00 and a 12-month 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 the consensus estimate of $0.34 by $0.28. VF had a negative net margin of 6.68% and a positive return on equity of 12.53%. During the same quarter in the prior year, the company earned $0.57 EPS. Research analysts forecast that VF will post 0.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of VFC. Bank of Montreal Can raised its holdings in shares of VF by 127.6% during the 2nd quarter. Bank of Montreal Can now owns 62,046 shares of the textile maker’s stock worth $878,000 after acquiring an additional 286,878 shares during the period. Teachers Retirement System of The State of Kentucky raised its holdings in shares of 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 acquiring an additional 96,442 shares during the period. TB Alternative Assets Ltd. purchased a new position in shares of VF during the 4th quarter worth $1,878,000. Segall Bryant & Hamill LLC raised its holdings in shares of 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 acquiring an additional 65,919 shares during the period. Finally, Sei Investments Co. raised its holdings in VF by 26.7% in the 2nd quarter. Sei Investments Co. now owns 207,120 shares of the textile maker’s stock valued at $2,796,000 after buying an additional 43,697 shares during the period. Hedge funds and other institutional investors own 86.84% of the company’s stock.

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.