In a report released today, Robert Drbul from Guggenheim maintained a Buy rating on VF Corp (NYSE: VFC), with a price target of $95. The company’s shares opened today at $77.76.
Drbul observed:
“We now expect TNF to grow at a HSD% rate in 2H19. Timberland fell 2% due to a 2% decline in wholesale (due primarily to timing shipments in EMEA and a customer bankruptcy in 3% decline in DTC (partially offset by >25% growth in digital). While Timberland under performed, VFC is comfortable with its 2H expectations and continues to forecast +2% to +4% growth in FY19. Overall, Outdoor increased +6% (+1% organic) and Active remained strong (+19%). Active profit margins increased ~190bps. The Jeans business was significantly impacted by a customer bankruptcy. Unseasonable weather in EMEA also impacted demand and both Wrangler and Lee fell at a DD rate in the region. VFC had contemplated the customer bankruptcy in its L-T forecasts and does not expect any impact to the L-T outlook.”
According to TipRanks.com, Drbul is a 5-star analyst with an average return of 15.1% and a 72.1% success rate. Drbul covers the Services sector, focusing on stocks such as National Vision Holdings Inc, Ascena Retail Group, and Wal-Mart Stores Inc.
VF Corp has an analyst consensus of Strong Buy, with a price target consensus of $103.06, implying a 32.5% upside from current levels. In a report issued on October 16, Credit Suisse also maintained a Buy rating on the stock with a $105 price target.
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VF Corp’s market cap is currently $34.44B and has a P/E ratio of 49.16. The company has a Price to Book ratio of 9.23.
Based on the recent corporate insider activity of 47 insiders, corporate insider sentiment is negative on the stock. Most recently, in August 2018, Scott Roe, the VP & CFO of VFC sold 29,544 shares for a total of $2,740,797.
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.
