Levi Strauss & Co. (NYSE:LEVI) Lowered to “Hold” at Zacks Investment Research

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Zacks Investment Research downgraded shares of Levi Strauss & Co. (NYSE:LEVI) from a buy rating to a hold rating in a research note released on Wednesday morning, Zacks.com reports.

According to Zacks, “Levi Strauss & Co. designs and markets jeans, casual wear and related accessories for men, women and children under the Levi’s(R), Dockers(R), Signature by Levi Strauss & Co.(TM) and Denizen(R)brands. Its products are sold through chain retailers, department stores, online sites and brand-dedicated retail stores and shop-in-shops. Levi Strauss & Co. is based in San Francisco, United States. “

Other analysts have also issued reports about the stock. Morgan Stanley cut their price target on shares of Levi Strauss & Co. from $23.00 to $17.00 and set an equal weight rating on the stock in a research note on Wednesday, April 8th. Telsey Advisory Group cut their target price on shares of Levi Strauss & Co. from $28.00 to $20.00 and set an outperform rating on the stock in a research note on Wednesday, April 1st. UBS Group cut their target price on shares of Levi Strauss & Co. from $29.00 to $27.00 and set a buy rating on the stock in a research note on Thursday, April 9th. Guggenheim cut their target price on shares of Levi Strauss & Co. from $26.00 to $16.00 and set a buy rating on the stock in a research note on Thursday, April 9th. Finally, Bank of America lowered shares of Levi Strauss & Co. from a buy rating to a neutral rating and cut their target price for the stock from $24.00 to $15.00 in a research note on Wednesday, March 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $18.78.

NYSE LEVI traded down $1.05 during trading hours on Wednesday, reaching $13.58. The company had a trading volume of 33,364 shares, compared to its average volume of 1,477,115. The stock has a 50-day moving average of $13.21 and a 200 day moving average of $16.21. Levi Strauss & Co. has a 1-year low of $9.09 and a 1-year high of $23.74. The company has a current ratio of 2.13, a quick ratio of 1.46 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $5.80 billion, a P/E ratio of 15.08, a price-to-earnings-growth ratio of 13.53 and a beta of 1.33.

Levi Strauss & Co. (NYSE:LEVI) last posted its earnings results on Tuesday, April 7th. The blue-jean maker reported $0.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.05. The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Levi Strauss & Co. had a net margin of 6.88% and a return on equity of 30.63%. The business’s revenue was up 4.9% compared to the same quarter last year. As a group, sell-side analysts predict that Levi Strauss & Co. will post 0.46 EPS for the current year.

Hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN lifted its holdings in shares of Levi Strauss & Co. by 2.0% during the first quarter. Wells Fargo & Company MN now owns 6,194,335 shares of the blue-jean maker’s stock worth $76,996,000 after purchasing an additional 119,814 shares during the period. Capital Research Global Investors lifted its holdings in shares of Levi Strauss & Co. by 262.2% during the first quarter. Capital Research Global Investors now owns 5,435,563 shares of the blue-jean maker’s stock worth $67,564,000 after purchasing an additional 3,934,935 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Levi Strauss & Co. by 205.1% during the first quarter. Wellington Management Group LLP now owns 4,917,252 shares of the blue-jean maker’s stock worth $61,121,000 after purchasing an additional 3,305,311 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Levi Strauss & Co. by 12.1% during the fourth quarter. Franklin Resources Inc. now owns 4,190,658 shares of the blue-jean maker’s stock worth $80,833,000 after purchasing an additional 451,490 shares during the period. Finally, FMR LLC lifted its holdings in Levi Strauss & Co. by 42.7% in the fourth quarter. FMR LLC now owns 2,240,814 shares of the blue-jean maker’s stock valued at $43,225,000 after acquiring an additional 669,969 shares during the period. 13.81% of the stock is owned by institutional investors and hedge funds.

About Levi Strauss & Co.

Levi Strauss & Co designs, markets, and sells jeans, casual and dress pants, tops, shorts, skirts, jackets, footwear, and related accessories for men, women, and children. The company sells its products under the Levi's, Dockers, Signature by Levi Strauss & Co, and Denizen brands; and also licenses its Levi's and Dockers trademarks for various product categories, including footwear, belts, wallets and bags, outerwear, sweaters, dress shirts, kids wear, sleepwear, and hosiery.

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