Canaccord Genuity analyst Camilo Lyon maintained a Buy rating on VF Corp (NYSE: VFC) today and set a price target of $108. The company’s shares opened today at $96, close to its 52-week high of $97.
Lyon said:
“VFC announced plans to spin off its Jeanswear brands (Wrangler and Lee as well as its outlet stores) and create two separate public entities with the closing scheduled for calendar 1H19. Historically, the Jeanswear coalition was a free cash flow machine that funded the growth of smaller acquisitions (e.g. North Face and Vans). Now, the action/ outdoor brands are large, self-funding and account for 75% of today’s FCF generation.”
According to TipRanks.com, Lyon is a 3-star analyst with an average return of 2.3% and a 48.7% success rate. Lyon covers the Consumer Goods sector, focusing on stocks such as Canada Goose Holdings Inc, Columbia Sportswear, and Deckers Outdoor.
VF Corp has an analyst consensus of Strong Buy, with a price target consensus of $100.63, implying a 4.8% upside from current levels. In a report issued on August 6, J.P. Morgan also reiterated a Buy rating on the stock with a $106 price target.
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VF Corp’s market cap is currently $37.97B and has a P/E ratio of 51.18. The company has a Price to Book ratio of 10.29.
Based on the recent corporate insider activity of 47 insiders, corporate insider sentiment is negative on the stock. Most recently, in June 2018, Scott H. Baxter, the VP & Group Pres. of VFC sold 65,988 shares for a total of $5,533,094.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
VF Corp. designs, produces, procures, markets and distributes lifestyle apparel, footwear and related products. It operates through the following segments: Outdoor & Action Sports, Jeanswear, Imagewear and Others.
