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

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

A number of other analysts have also recently commented on LEVI. Morgan Stanley raised Levi Strauss & Co. from an equal weight rating to an overweight rating and upped their price target for the company from $18.00 to $22.00 in a research note on Monday, October 12th. Guggenheim boosted their price objective on Levi Strauss & Co. from $20.00 to $24.00 and gave the company a buy rating in a report on Wednesday, December 30th. ValuEngine cut Levi Strauss & Co. from a buy rating to a hold rating in a research report on Monday, October 19th. The Goldman Sachs Group raised Levi Strauss & Co. from a sell rating to a buy rating and lifted their target price for the company from $11.00 to $23.00 in a research report on Thursday, December 10th. Finally, Bank of America raised Levi Strauss & Co. from a neutral rating to a buy rating and lifted their target price for the company from $18.00 to $20.00 in a research report on Tuesday, November 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $21.20.

Shares of LEVI stock opened at $21.57 on Wednesday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.96 and a quick ratio of 1.36. The stock has a market cap of $8.57 billion, a PE ratio of -89.87, a price-to-earnings-growth ratio of 4.36 and a beta of 1.03. The stock has a 50-day moving average of $20.32 and a 200-day moving average of $15.59. Levi Strauss & Co. has a one year low of $9.09 and a one year high of $22.64.

In other Levi Strauss & Co. news, major shareholder Bradley J. Haas sold 125,883 shares of the business’s stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $16.59, for a total transaction of $2,088,398.97. Following the completion of the transaction, the insider now owns 125,883 shares in the company, valued at $2,088,398.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Miriam L. Haas sold 5,599 shares of the business’s stock in a transaction that occurred on Friday, October 16th. The shares were sold at an average price of $15.86, for a total value of $88,800.14. Following the transaction, the insider now owns 5,599 shares of the company’s stock, valued at approximately $88,800.14. The disclosure for this sale can be found here. Insiders have sold 1,555,490 shares of company stock valued at $29,217,484 in the last 90 days. Company insiders own 6.48% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in LEVI. Banque Cantonale Vaudoise acquired a new position in shares of Levi Strauss & Co. during the third quarter worth about $27,000. Perpetual Ltd acquired a new position in Levi Strauss & Co. during the third quarter worth approximately $32,000. Prospera Financial Services Inc acquired a new position in Levi Strauss & Co. during the third quarter worth approximately $64,000. PNC Financial Services Group Inc. increased its position in Levi Strauss & Co. by 246.9% during the second quarter. PNC Financial Services Group Inc. now owns 5,620 shares of the blue-jean maker’s stock worth $74,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Levi Strauss & Co. by 80.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,511 shares of the blue-jean maker’s stock worth $114,000 after purchasing an additional 3,796 shares during the last quarter. Hedge funds and other institutional investors own 9.17% of the company’s stock.

About Levi Strauss & Co.

Levi Strauss & Co operates as an apparel company. It designs, markets, and sells jeans, casual and dress pants, tops, shorts, skirts, jackets, footwear, and related accessories for men, women, and children in the Americas, Europe, and Asia. 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.

See Also: Gap Down Stocks

Get a free copy of the Zacks research report on Levi Strauss & Co. (LEVI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Levi Strauss & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Levi Strauss & Co. and related companies with MarketBeat.com's FREE daily email newsletter.