Barclays Issues Pessimistic Forecast for VF (NYSE:VFC) Stock Price

VF (NYSE:VFC) had its price target cut by Barclays from $34.00 to $19.00 in a research note released on Monday morning,Benzinga reports. The firm currently has an overweight rating on the textile maker’s stock.

VFC has been the topic of a number of other reports. Citigroup lowered shares of VF from a “buy” rating to a “neutral” rating and cut their price target for the stock from $30.00 to $12.00 in a research note on Monday, April 7th. BMO Capital Markets boosted their price target on shares of VF from $14.00 to $25.00 and gave the stock a “market perform” rating in a research note on Thursday, January 30th. Truist Financial reiterated a “hold” rating and set a $24.00 price target (up from $20.00) on shares of VF in a research note on Thursday, January 30th. UBS Group upped their target price on shares of VF from $24.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Finally, JPMorgan Chase & Co. upped their target price on shares of VF from $20.00 to $23.00 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, VF currently has an average rating of “Hold” and a consensus target price of $20.65.

VF Stock Up 8.8%

Shares of NYSE:VFC opened at $14.45 on Monday. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.56 and a quick ratio of 1.00. The firm has a market capitalization of $5.63 billion, a PE ratio of -12.14, a price-to-earnings-growth ratio of 6.77 and a beta of 1.68. The firm’s 50-day moving average is $13.68 and its two-hundred day moving average is $19.46. VF has a 1 year low of $9.41 and a 1 year high of $29.02.

Hedge Funds Weigh In On VF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Entropy Technologies LP acquired a new position in VF in the first quarter valued at approximately $749,000. Amalgamated Bank boosted its holdings in VF by 46.2% in the first quarter. Amalgamated Bank now owns 152,410 shares of the textile maker’s stock valued at $2,365,000 after purchasing an additional 48,151 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of VF in the first quarter valued at approximately $350,000. Fiduciary Alliance LLC boosted its holdings in shares of VF by 16.4% in the first quarter. Fiduciary Alliance LLC now owns 298,596 shares of the textile maker’s stock valued at $4,634,000 after acquiring an additional 42,065 shares during the period. Finally, Rhumbline Advisers boosted its holdings in shares of VF by 11.0% in the first quarter. Rhumbline Advisers now owns 928,753 shares of the textile maker’s stock valued at $14,414,000 after acquiring an additional 92,174 shares during the period. 86.84% of the stock is owned by institutional investors and hedge funds.

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.