Goldman Sachs Group Downgrades Levi Strauss & Co. (NYSE:LEVI) to Sell

Goldman Sachs Group cut shares of Levi Strauss & Co. (NYSE:LEVI) from a neutral rating to a sell rating in a report issued on Wednesday morning, Benzinga reports. The firm currently has $19.00 price objective on the blue-jean maker’s stock, down from their previous price objective of $21.00.

A number of other research firms have also weighed in on LEVI. Citigroup upped their price objective on T. Rowe Price Group from $98.00 to $108.00 and gave the stock a neutral rating in a research note on Monday, April 15th. Morgan Stanley dropped their price objective on Wells Fargo & Co from $55.00 to $51.00 and set an equal weight rating for the company in a research note on Monday, April 15th. Guggenheim initiated coverage on Levi Strauss & Co. in a research note on Monday, April 15th. They issued a buy rating and a $26.00 price objective for the company. Bank of America set a $25.00 price objective on Levi Strauss & Co. and gave the stock a hold rating in a research note on Wednesday, July 10th. Finally, JPMorgan Chase & Co. upped their price objective on Dell from $68.00 to $77.00 and gave the stock an overweight rating in a research note on Monday, April 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $24.86.

Shares of LEVI opened at $18.75 on Wednesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.35 and a quick ratio of 1.55. The stock has a 50-day moving average of $21.03. Levi Strauss & Co. has a 52 week low of $18.16 and a 52 week high of $24.50.

Levi Strauss & Co. (NYSE:LEVI) last released its quarterly earnings data on Tuesday, July 9th. The blue-jean maker reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.29 billion. Levi Strauss & Co. had a return on equity of 42.83% and a net margin of 7.01%. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, research analysts anticipate that Levi Strauss & Co. will post 1.09 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pittenger & Anderson Inc. bought a new position in Levi Strauss & Co. during the first quarter valued at approximately $29,000. Signaturefd LLC bought a new position in Levi Strauss & Co. during the first quarter valued at approximately $36,000. Bank of Montreal Can bought a new position in Levi Strauss & Co. during the first quarter valued at approximately $84,000. Commonwealth Equity Services LLC boosted its stake in Levi Strauss & Co. by 33.1% during the second quarter. Commonwealth Equity Services LLC now owns 22,258 shares of the blue-jean maker’s stock valued at $464,000 after buying an additional 5,533 shares during the last quarter. Finally, Banque Pictet & Cie SA bought a new position in Levi Strauss & Co. during the first quarter valued at approximately $212,000. 9.05% of the stock is owned by hedge funds and other institutional investors.

Levi Strauss & Co. Company Profile

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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Analyst Recommendations for Levi Strauss & Co. (NYSE:LEVI)

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