Levi Strauss & Co.’s (LEVI) “Buy” Rating Reaffirmed at Guggenheim

Levi Strauss & Co. (NYSE:LEVI)‘s stock had its “buy” rating reissued by research analysts at Guggenheim in a note issued to investors on Friday,Benzinga reports. They presently have a $23.00 price target on the blue-jean maker’s stock. Guggenheim’s price objective would suggest a potential upside of 31.91% from the stock’s previous close.

Other research analysts have also issued research reports about the company. Barclays assumed coverage on Levi Strauss & Co. in a research report on Wednesday, January 8th. They set an “overweight” rating and a $24.00 price target on the stock. JPMorgan Chase & Co. lowered their target price on shares of Levi Strauss & Co. from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Friday. TD Cowen lowered their price objective on Levi Strauss & Co. from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Morgan Stanley dropped their price objective on Levi Strauss & Co. from $19.00 to $18.00 and set an “equal weight” rating for the company in a research note on Tuesday. Finally, Citigroup dropped their price objective on shares of Levi Strauss & Co. from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Friday, January 17th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.18.

Levi Strauss & Co. Price Performance

Levi Strauss & Co. stock traded down $0.37 on Friday, reaching $17.44. The company’s stock had a trading volume of 514,884 shares, compared to its average volume of 1,488,405. The business’s fifty day moving average price is $17.29 and its 200 day moving average price is $18.20. The company has a market cap of $6.92 billion, a price-to-earnings ratio of 45.88, a PEG ratio of 0.97 and a beta of 1.16. Levi Strauss & Co. has a twelve month low of $15.16 and a twelve month high of $24.34. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.76 and a current ratio of 1.41.

Insider Activity

In other Levi Strauss & Co. news, Director David A. Friedman sold 8,332 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $18.00, for a total transaction of $149,976.00. Following the completion of the sale, the director now directly owns 108,344 shares in the company, valued at approximately $1,950,192. This trade represents a 7.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 3.14% of the company’s stock.

Hedge Funds Weigh In On Levi Strauss & Co.

Large investors have recently bought and sold shares of the stock. FMR LLC lifted its position in shares of Levi Strauss & Co. by 44.6% during the third quarter. FMR LLC now owns 9,420,007 shares of the blue-jean maker’s stock worth $205,356,000 after purchasing an additional 2,907,099 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Levi Strauss & Co. by 2,083.0% in the 2nd quarter. Millennium Management LLC now owns 1,923,206 shares of the blue-jean maker’s stock valued at $37,079,000 after purchasing an additional 1,835,107 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Levi Strauss & Co. by 59.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,555,382 shares of the blue-jean maker’s stock worth $33,907,000 after acquiring an additional 579,460 shares during the period. The Manufacturers Life Insurance Company grew its position in Levi Strauss & Co. by 6,794.9% during the second quarter. The Manufacturers Life Insurance Company now owns 1,244,873 shares of the blue-jean maker’s stock worth $24,001,000 after buying an additional 1,226,818 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Levi Strauss & Co. by 1.7% during the 3rd quarter. Franklin Resources Inc. now owns 1,230,069 shares of the blue-jean maker’s stock worth $26,816,000 after buying an additional 20,426 shares during the last quarter. 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.