Levi Strauss & Co. (NYSE:LEVI) Rating Lowered to Equal Weight at Morgan Stanley

Levi Strauss & Co. (NYSE:LEVIGet Rating) was downgraded by investment analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a note issued to investors on Thursday, MarketBeat reports. They currently have a $19.00 target price on the blue-jean maker’s stock. Morgan Stanley’s price objective indicates a potential downside of 0.42% from the company’s previous close.

A number of other brokerages have also weighed in on LEVI. UBS Group decreased their price objective on Levi Strauss & Co. from $31.00 to $24.00 in a report on Friday, July 15th. The Goldman Sachs Group decreased their price objective on Levi Strauss & Co. from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Thursday, April 7th. Stifel Nicolaus decreased their price objective on Levi Strauss & Co. from $26.00 to $23.00 in a report on Wednesday, July 20th. Wells Fargo & Company decreased their price objective on Levi Strauss & Co. from $25.00 to $22.00 and set an “overweight” rating on the stock in a report on Friday, July 8th. Finally, Evercore ISI cut their target price on Levi Strauss & Co. from $40.00 to $30.00 and set an “outperform” rating for the company in a research note on Friday, July 8th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $26.18.

Levi Strauss & Co. Trading Down 1.4 %

Shares of NYSE:LEVI opened at $19.08 on Thursday. Levi Strauss & Co. has a 1 year low of $15.61 and a 1 year high of $29.08. The firm has a market capitalization of $7.57 billion, a price-to-earnings ratio of 13.25, a price-to-earnings-growth ratio of 3.38 and a beta of 1.11. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.53 and a quick ratio of 0.88. The business’s 50 day moving average price is $17.73 and its 200-day moving average price is $19.18.

Levi Strauss & Co. (NYSE:LEVIGet Rating) last announced its earnings results on Thursday, July 7th. The blue-jean maker reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.06. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.43 billion. Levi Strauss & Co. had a return on equity of 40.03% and a net margin of 9.48%. The business’s revenue was up 15.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.23 EPS. On average, equities research analysts forecast that Levi Strauss & Co. will post 1.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Seth Jaffe sold 11,948 shares of the firm’s stock in a transaction dated Thursday, June 30th. The stock was sold at an average price of $16.44, for a total transaction of $196,425.12. Following the completion of the sale, the executive vice president now directly owns 148,299 shares of the company’s stock, valued at approximately $2,438,035.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.69% of the company’s stock.

Hedge Funds Weigh In On Levi Strauss & Co.

Institutional investors have recently bought and sold shares of the company. Allworth Financial LP grew its position in Levi Strauss & Co. by 676.9% in the 2nd quarter. Allworth Financial LP now owns 1,678 shares of the blue-jean maker’s stock valued at $27,000 after acquiring an additional 1,462 shares in the last quarter. Private Capital Group LLC acquired a new position in Levi Strauss & Co. in the 1st quarter valued at about $43,000. Investors Asset Management of Georgia Inc. GA ADV acquired a new position in Levi Strauss & Co. in the 2nd quarter valued at about $46,000. Western Pacific Wealth Management LP acquired a new position in Levi Strauss & Co. in the 4th quarter valued at about $50,000. Finally, Venture Visionary Partners LLC acquired a new position in Levi Strauss & Co. in the 2nd quarter valued at about $59,000. 70.69% of the stock is owned by institutional investors and hedge funds.

About Levi Strauss & Co.

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Levi Strauss & Co operates as an apparel company. The company designs, markets, and sells jeans, casual and dress pants, activewear, tops, shorts, skirts, dresses, jackets, footwear, and related accessories for men, women, and children in the Americas, Europe, and Asia. It also sells its products under the Levi's, Dockers, Signature by Levi Strauss & Co, and Denizen brands.

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

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