VF Corp (VFC) is Downgraded by BB&T Capital Mkts to Hold

VF Corp (VFC) was Downgraded by BB&T Capital Mkts to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. BB&T Capital Mkts advised their investors in a research report released on Apr 25, 2016.

Many Wall Street Analysts have commented on VF Corp. Shares were Reiterated by Telsey Advisory Group on Feb 22, 2016 to “Outperform” and Lowered the Price Target to $ 70 from a previous price target of $75 .Shares were Reiterated by Canaccord Genuity on Feb 22, 2016 to “Buy” and Lowered the Price Target to $ 82 from a previous price target of $83 .Shares were Reiterated by Barclays on Feb 22, 2016 to “Overweight” and Lowered the Price Target to $ 72 from a previous price target of $78 .

On the company’s financial health, VF Corp reported $0.95 EPS for the quarter, missing the analyst consensus estimate by $ -0.06 based on the information available during the earnings call on Feb 19, 2016. Analyst had a consensus of $1.01. The company had revenue of $3413.00 million for the quarter, compared to analysts expectations of $3637.55 million. The company’s revenue was down -4.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.98 EPS.

VF Corp opened for trading at $64.26 and hit $64.7 on the upside on Friday, eventually ending the session at $64.07, with a gain of 0.17% or 0.11 points. The heightened volatility saw the trading volume jump to 15,51,114 shares. Company has a market cap of $27,196 M.

In a different news, on Mar 8, 2016, Eric C Wiseman (Chairman & CEO) sold 99,666 shares at $65.77 per share price. According to the SEC, on Mar 3, 2016, Steven E Rendle (President & COO) sold 53,800 shares at $66.13 per share price. On Mar 2, 2016, Scott A. Roe (VP & CFO) sold 6,512 shares at $65.48 per share price, according to the Form-4 filing with the securities and exchange commission.

V.F. Corporation (VF) is engaged in the design manufacturing marketing and distribution of branded lifestyle apparel footwear and accessories. The Company operates through five coalitions: Outdoor & Action Sports Jeanswear Imagewear Sportswear and Contemporary Brands. The Company owns a portfolio of brands in the outerwear footwear denim backpack luggage accessory sportswear occupational and performance apparel categories. The Company’s brands primarily include The North Face Vans Timberland Wrangler Lee and Nautica. The Company’s products are marketed to consumers shopping in specialty stores upscale and traditional department stores national chains mass merchants and its own direct-to-consumer operations. Its direct-to-consumer business includes VF-operated stores concession retail stores and e-commerce sites. The Company’s brands sell products in international markets through licensees distributors and independently-operated partnership stores.

VF Corp

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