Levi Strauss & Co. (NYSE:LEVI) Price Target Cut to $23.00

by · The Cerbat Gem

Levi Strauss & Co. (NYSE:LEVI – Get Free Report) had its price target dropped by TD Cowen from $25.00 to $23.00 in a report released on Thursday, Benzinga reports. The firm presently has a “buy” rating on the blue-jean maker’s stock. TD Cowen’s price objective would indicate a potential upside of 16.04% from the company’s current price.

Several other research analysts have also weighed in on the company. OTR Global initiated coverage on Levi Strauss & Co. in a research report on Friday, June 14th. They issued a “positive” rating for the company. Telsey Advisory Group reiterated an “outperform” rating and issued a $26.00 price objective on shares of Levi Strauss & Co. in a research note on Thursday. Bank of America raised their price target on Levi Strauss & Co. from $19.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, June 27th. JPMorgan Chase & Co. raised their price target on Levi Strauss & Co. from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Stifel Nicolaus dropped their price objective on Levi Strauss & Co. from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.75.

View Our Latest Research Report on LEVI

Levi Strauss & Co. Stock Performance

Shares of Levi Strauss & Co. stock opened at $19.82 on Thursday. The firm has a market capitalization of $7.88 billion, a P/E ratio of 56.63, a PEG ratio of 1.19 and a beta of 1.14. The company has a quick ratio of 0.77, a current ratio of 1.42 and a debt-to-equity ratio of 0.51. Levi Strauss & Co. has a 52 week low of $12.41 and a 52 week high of $24.34. The company has a 50 day moving average price of $19.19 and a 200 day moving average price of $20.34.

Levi Strauss & Co. (NYSE:LEVI – Get Free Report) last released its quarterly earnings results on Wednesday, October 2nd. The blue-jean maker reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. Levi Strauss & Co. had a return on equity of 23.21% and a net margin of 2.34%. The company had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter in the prior year, the firm posted $0.28 EPS. Levi Strauss & Co.’s quarterly revenue was up .4% compared to the same quarter last year. Sell-side analysts expect that Levi Strauss & Co. will post 1.25 EPS for the current year.

Insider Activity

In related news, Director David A. Friedman sold 4,166 shares of Levi Strauss & Co. stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $19.15, for a total transaction of $79,778.90. Following the completion of the transaction, the director now directly owns 154,178 shares in the company, valued at $2,952,508.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director David A. Friedman sold 25,002 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $20.00, for a total transaction of $500,040.00. Following the completion of the sale, the director now directly owns 229,176 shares of the company’s stock, valued at $4,583,520. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director David A. Friedman sold 4,166 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $19.15, for a total transaction of $79,778.90. Following the sale, the director now directly owns 154,178 shares of the company’s stock, valued at $2,952,508.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 33,334 shares of company stock worth $655,765. Company insiders own 3.14% of the company’s stock.

Hedge Funds Weigh In On Levi Strauss & Co.

A number of institutional investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. bought a new stake in Levi Strauss & Co. during the 2nd quarter valued at $8,552,000. Brandes Investment Partners LP increased its position in shares of Levi Strauss & Co. by 1.8% in the second quarter. Brandes Investment Partners LP now owns 42,745 shares of the blue-jean maker’s stock worth $824,000 after acquiring an additional 743 shares in the last quarter. Quarry LP purchased a new stake in shares of Levi Strauss & Co. in the second quarter valued at $56,000. Susquehanna International Securities Ltd. purchased a new stake in Levi Strauss & Co. in the 2nd quarter worth about $239,000. Finally, Scientech Research LLC acquired a new stake in shares of Levi Strauss & Co. during the second quarter worth approximately $361,000. Institutional investors and hedge funds own 69.14% of the company’s stock.

Levi Strauss & Co. Company Profile

(Get Free Report)

Levi Strauss & Co designs, markets, and sells apparels and related accessories for men, women, and children worldwide. The company offers jeans, casual and dress pants, activewears, tops, shorts, skirts, dresses, jumpsuits, shirts, sweaters, jackets, footwear, and related accessories under the Levi's, Dockers, Signature by Levi Strauss & Co, Denizen, and Beyond Yoga brands.

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