VF Corp Sees Large Volume Increase on Strong Earnings (VFC)
VF Corp (NYSE:VFC) saw strong trading volume on Friday following a stronger than expected earnings report, American Banking News.com reports. 1,859,937 shares were traded during mid-day trading, an increase of 11% from the previous session’s volume of 1,674,110 shares.The stock last traded at $61.06 and had previously closed at $61.60.
The company reported $0.36 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.35 by $0.01. The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the prior year, the company posted $0.32 earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis.
Several analysts have recently commented on the stock. Analysts at Robert W. Baird raised their price target on shares of VF Corp from $68.00 to $72.00 in a research note on Monday, May 19th. They now have an “outperform” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of VF Corp in a research note on Wednesday, May 14th. They now have a $67.00 price target on the stock. Finally, analysts at ISI Group upgraded shares of VF Corp from a “neutral” rating to a “buy” rating in a research note on Tuesday, May 13th. They now have a $75.00 price target on the stock, up previously from $65.00. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. VF Corp currently has a consensus rating of “Buy” and a consensus price target of $103.45.
The stock has a 50-day moving average of $62.73 and a 200-day moving average of $60.9. The company has a market cap of $26.241 billion and a price-to-earnings ratio of 22.16.
V.F. Corporation (NYSE:VFC) is a global apparel company based in the United States.
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