Bank of America Boosts Levi Strauss & Co. (NYSE:LEVI) Price Target to $21.00

Levi Strauss & Co. (NYSE:LEVI) had its price objective hoisted by research analysts at Bank of America from $20.00 to $21.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the blue-jean maker’s stock. Bank of America‘s price objective indicates a potential upside of 16.15% from the stock’s previous close.

Several other brokerages also recently commented on LEVI. Citigroup reissued a “neutral” rating and issued a $19.00 price objective (up from $14.00) on shares of Levi Strauss & Co. in a research note on Wednesday, May 21st. JPMorgan Chase & Co. upgraded shares of Levi Strauss & Co. from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $19.00 to $17.00 in a report on Tuesday, April 8th. Stifel Nicolaus dropped their price target on shares of Levi Strauss & Co. from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Barclays upped their price objective on shares of Levi Strauss & Co. from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 21st. Finally, Telsey Advisory Group upped their target price on Levi Strauss & Co. from $19.00 to $21.00 and gave the company an “outperform” rating in a report on Thursday, May 15th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Levi Strauss & Co. has a consensus rating of “Moderate Buy” and a consensus price target of $20.55.

Levi Strauss & Co. Stock Down 2.9%

Levi Strauss & Co. stock opened at $18.08 on Tuesday. The company has a market capitalization of $7.16 billion, a PE ratio of 20.31, a PEG ratio of 1.75 and a beta of 1.15. Levi Strauss & Co. has a 12-month low of $12.17 and a 12-month high of $23.37. The firm’s fifty day moving average is $17.02 and its 200 day moving average is $16.98. The company has a quick ratio of 0.89, a current ratio of 1.50 and a debt-to-equity ratio of 0.49.

Levi Strauss & Co. (NYSE:LEVI) last released its quarterly earnings data on Monday, April 7th. The blue-jean maker reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.10. Levi Strauss & Co. had a net margin of 5.63% and a return on equity of 28.11%. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter in the prior year, the firm earned $0.26 EPS. The business’s revenue was up 3.1% on a year-over-year basis. As a group, sell-side analysts predict that Levi Strauss & Co. will post 1.27 EPS for the current fiscal year.

Institutional Trading of Levi Strauss & Co.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Golden State Wealth Management LLC raised its position in shares of Levi Strauss & Co. by 101.5% in the first quarter. Golden State Wealth Management LLC now owns 2,210 shares of the blue-jean maker’s stock worth $34,000 after buying an additional 1,113 shares in the last quarter. IFP Advisors Inc purchased a new position in Levi Strauss & Co. in the 1st quarter worth approximately $38,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Levi Strauss & Co. by 35.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,109 shares of the blue-jean maker’s stock valued at $49,000 after buying an additional 812 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Levi Strauss & Co. by 133.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,286 shares of the blue-jean maker’s stock worth $51,000 after acquiring an additional 1,879 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Levi Strauss & Co. during the 4th quarter worth $57,000. Institutional investors own 69.14% of the company’s stock.

Levi Strauss & Co. Company Profile

Levi Strauss & Co engages in the design, marketing, and sale of apparel products. The company offers jeans, casual and dress pants, tops, shorts, skirts, jackets, footwear, and related accessories. It operates through the following geographical segments: Americas, Europe, and Asia. The company was founded by Levi Strauss in 1853 and is headquartered in San Francisco, CA.