VF (NYSE:VFC) Upgraded by OTR Global to Positive Rating

VF (NYSE:VFC) was upgraded by research analysts at OTR Global from a “mixed” rating to a “positive” rating in a research note issued to investors on Friday,Benzinga reports.

Several other equities analysts have also issued reports on VFC. JPMorgan Chase & Co. raised their price target on VF from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Truist Financial started coverage on shares of VF in a research report on Thursday, December 5th. They issued a “hold” rating and a $20.00 target price for the company. Citigroup increased their price target on shares of VF from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. StockNews.com raised VF from a “sell” rating to a “hold” rating in a research report on Saturday, October 26th. Finally, Argus raised VF from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Tuesday, December 17th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, VF has an average rating of “Hold” and a consensus price target of $19.11.

VF Price Performance

NYSE:VFC traded up $1.23 during midday trading on Friday, hitting $22.77. The company had a trading volume of 4,162,609 shares, compared to its average volume of 4,115,899. The stock’s fifty day moving average price is $20.99 and its 200-day moving average price is $18.53. VF has a 52-week low of $11.00 and a 52-week high of $23.49. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 2.86. The company has a market capitalization of $8.86 billion, a PE ratio of -13.16, a P/E/G ratio of 8.19 and a beta of 1.45.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of VFC. Segall Bryant & Hamill LLC grew its position in VF by 1.8% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 3,663,341 shares of the textile maker’s stock worth $73,084,000 after purchasing an additional 65,919 shares during the period. Teachers Retirement System of The State of Kentucky increased its position in VF by 90.7% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 202,723 shares of the textile maker’s stock valued at $2,737,000 after acquiring an additional 96,442 shares during the last quarter. Hanseatic Management Services Inc. bought a new position in VF in the third quarter valued at about $640,000. Smith Thornton Advisors LLC purchased a new position in VF in the second quarter worth about $436,000. Finally, Scientech Research LLC grew its stake in shares of VF by 220.1% during the 2nd quarter. Scientech Research LLC now owns 93,861 shares of the textile maker’s stock valued at $1,267,000 after purchasing an additional 64,541 shares during the period. 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.