Pivotal Research Remains a Hold on VF Corp


In a report released today, Mitch Kummetz from Pivotal Research reiterated a Hold rating on VF Corp (NYSE: VFC), with a price target of $86. The company’s shares closed yesterday at $88.80, close to its 52-week high of $88.99.

Kummetz commented:

“We’re modeling 1Q19 slightly above consensus, as we expect strong results to be driven by continued robust Vans performance. That said, our rating on the share remains HOLD, as we anticipate material sequential deceleration of the Vans growth rate over the balance of the year. This is not unexpected and built into the company’s guidance, but we view it as a negative optic nonetheless, especially with the stock trading at its current above-normal valuation, suggesting a less-than-ideal risk/reward profile in our opinion.”

According to TipRanks.com, Kummetz is a 2-star analyst with an average return of 0.7% and a 57.6% success rate. Kummetz covers the Services sector, focusing on stocks such as Foot Locker Inc, Shoe Carnival, and Genesco Inc.

Currently, the analyst consensus on VF Corp is a Moderate Buy with an average price target of $92.27.

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The company has a one-year high of $88.99 and a one-year low of $55.51. Currently, VF Corp has an average volume of 1.99M.

Based on the recent corporate insider activity of 47 insiders, corporate insider sentiment is negative on the stock. Last month, Scott H. Baxter, the VP & Group Pres. of VFC sold 65,988 shares for a total of $5,533,094.

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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.

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