Bank of America Boosts Levi Strauss & Co. (NYSE:LEVI) Price Target to $27.00

Levi Strauss & Co. (NYSE:LEVI) had its price objective boosted by research analysts at Bank of America from $26.00 to $27.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the blue-jean maker’s stock. Bank of America‘s target price points to a potential upside of 10.62% from the stock’s current price.

Several other equities research analysts also recently weighed in on LEVI. JPMorgan Chase & Co. upped their target price on Levi Strauss & Co. from $18.00 to $23.00 and gave the stock an “overweight” rating in a research report on Friday, July 11th. Zacks Research downgraded Levi Strauss & Co. from a “strong-buy” rating to a “hold” rating in a report on Friday, September 12th. Wells Fargo & Company increased their price target on Levi Strauss & Co. from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, July 11th. UBS Group increased their price target on Levi Strauss & Co. from $20.00 to $28.00 and gave the company a “buy” rating in a report on Friday, July 18th. Finally, Needham & Company LLC assumed coverage on Levi Strauss & Co. in a report on Thursday, September 25th. They issued a “buy” rating and a $28.00 price target for the company. Nine equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Levi Strauss & Co. currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.73.

Levi Strauss & Co. Price Performance

LEVI stock opened at $24.41 on Wednesday. The stock has a 50-day moving average price of $21.70 and a two-hundred day moving average price of $18.75. Levi Strauss & Co. has a 12-month low of $12.17 and a 12-month high of $24.61. The company has a current ratio of 1.48, a quick ratio of 0.85 and a debt-to-equity ratio of 0.49. The company has a market cap of $9.66 billion, a PE ratio of 23.93, a price-to-earnings-growth ratio of 1.96 and a beta of 1.30.

Levi Strauss & Co. (NYSE:LEVI) last issued its earnings results on Thursday, July 10th. The blue-jean maker reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.09. Levi Strauss & Co. had a return on equity of 28.75% and a net margin of 6.40%.The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the prior year, the business earned $0.16 earnings per share. The company’s revenue was up 6.4% compared to the same quarter last year. As a group, research analysts predict that Levi Strauss & Co. will post 1.27 EPS for the current year.

Institutional Trading of Levi Strauss & Co.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Balyasny Asset Management L.P. raised its position in shares of Levi Strauss & Co. by 123,970.4% during the 2nd quarter. Balyasny Asset Management L.P. now owns 3,163,649 shares of the blue-jean maker’s stock worth $58,496,000 after purchasing an additional 3,166,203 shares during the period. Millennium Management LLC raised its position in shares of Levi Strauss & Co. by 65.1% during the 1st quarter. Millennium Management LLC now owns 3,110,200 shares of the blue-jean maker’s stock worth $48,488,000 after purchasing an additional 1,226,205 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Levi Strauss & Co. by 14.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 2,189,815 shares of the blue-jean maker’s stock worth $34,139,000 after purchasing an additional 273,247 shares during the period. Ameriprise Financial Inc. raised its position in shares of Levi Strauss & Co. by 83.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,958,271 shares of the blue-jean maker’s stock worth $36,208,000 after purchasing an additional 890,752 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Levi Strauss & Co. by 5.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,725,358 shares of the blue-jean maker’s stock worth $32,558,000 after purchasing an additional 85,793 shares during the period. 69.14% of the stock is currently owned by institutional investors and hedge funds.

Levi Strauss & Co. Company Profile

Levi Strauss & Co engages in the design, marketing, and sale of apparel products. The company offers jeans, casual and dress pants, tops, shorts, skirts, jackets, footwear, and related accessories. It operates through the following geographical segments: Americas, Europe, and Asia. The company was founded by Levi Strauss in 1853 and is headquartered in San Francisco, CA.