Levi Strauss & Co.’s (NYSE:LEVI) lock-up period will expire on Tuesday, September 17th. Levi Strauss & Co. had issued 36,666,667 shares in its initial public offering on March 21st. The total size of the offering was $623,333,339 based on an initial share price of $17.00. After the end of the company’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.
Several brokerages have issued reports on LEVI. Bank of America raised Levi Strauss & Co. from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $25.00 to $20.00 in a research note on Thursday, August 15th. They noted that the move was a valuation call. Guggenheim reaffirmed a “buy” rating on shares of Levi Strauss & Co. in a research note on Wednesday, September 4th. Finally, Goldman Sachs Group lowered Levi Strauss & Co. from a “neutral” rating to a “sell” rating and lowered their target price for the company from $21.00 to $19.00 in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. Levi Strauss & Co. currently has an average rating of “Buy” and a consensus price target of $24.14.
NYSE LEVI opened at $17.91 on Tuesday. Levi Strauss & Co. has a 1-year low of $16.00 and a 1-year 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. The firm has a 50-day moving average of $17.49.
Levi Strauss & Co. (NYSE:LEVI) last released its earnings results on Tuesday, July 9th. The blue-jean maker reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.29 billion. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities research analysts forecast that Levi Strauss & Co. will post 1.06 earnings per share for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in LEVI. Pittenger & Anderson Inc. bought a new stake in shares of Levi Strauss & Co. in the 1st quarter valued at about $29,000. Signaturefd LLC bought a new stake in shares of Levi Strauss & Co. in the 1st quarter valued at about $36,000. NumerixS Investment Technologies Inc bought a new stake in shares of Levi Strauss & Co. in the 2nd quarter valued at about $58,000. Aperio Group LLC bought a new stake in shares of Levi Strauss & Co. in the 2nd quarter valued at about $62,000. Finally, Bank of Montreal Can bought a new stake in shares of Levi Strauss & Co. in the 1st quarter valued at about $84,000. 8.84% of the stock is owned by institutional investors.
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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