Bank of America Upgrades Levi Strauss & Co. (NYSE:LEVI) to “Buy”

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Bank of America upgraded shares of Levi Strauss & Co. (NYSE:LEVI) from a neutral rating to a buy rating in a research report report published on Thursday morning, BenzingaRatingsTable reports. They currently have $20.00 target price on the blue-jean maker’s stock, down from their prior target price of $25.00. The analysts noted that the move was a valuation call.

Other research analysts have also issued reports about the company. Goldman Sachs Group lowered Levi Strauss & Co. from a neutral rating to a sell rating and cut their price target for the stock from $21.00 to $19.00 in a report on Wednesday, July 17th. Guggenheim reiterated a buy rating and set a $26.00 price target on shares of Levi Strauss & Co. in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $24.14.

LEVI opened at $16.30 on Thursday. The stock has a 50 day moving average of $19.41. Levi Strauss & Co. has a twelve month low of $16.00 and a twelve month high of $24.50. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.35 and a quick ratio of 1.55.

Levi Strauss & Co. (NYSE:LEVI) last posted its earnings results on Tuesday, July 9th. The blue-jean maker reported $0.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.03. Levi Strauss & Co. had a return on equity of 42.83% and a net margin of 7.01%. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.29 billion. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities analysts expect that Levi Strauss & Co. will post 1.06 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of Montreal Can acquired a new position in shares of Levi Strauss & Co. in the 1st quarter valued at $84,000. SG Americas Securities LLC acquired a new position in shares of Levi Strauss & Co. in the 1st quarter valued at $619,000. Peregrine Asset Advisers Inc. acquired a new position in shares of Levi Strauss & Co. in the 1st quarter valued at $2,658,000. Janus Henderson Group PLC acquired a new position in shares of Levi Strauss & Co. in the 1st quarter valued at $589,000. Finally, Banque Pictet & Cie SA acquired a new position in shares of Levi Strauss & Co. in the 1st quarter valued at $212,000. Institutional investors and hedge funds own 10.04% of the company’s stock.

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

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