|Bid||18.45 x 1400|
|Ask||18.46 x 800|
|Day's Range||18.26 - 18.90|
|52 Week Range||18.16 - 24.50|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||18.00|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||24.67|
Levi's news for Wednesday about the company getting a downgrade has LEVI stock falling.Source: Shutterstock The downgrade for Levi's (NYSE:LEVI) comes from Goldman Sachs analyst Alexandra Walvis. This has the analysts dropping the stock from its previous rating of "Neutral" to a new rating of "Sell." This marks the first "Sell" rating for the company from Goldman Sachs.The bad Levi's news doesn't just stop at a downgrade. Walvis also is also reducing her price target for the stock to $19 per share. That represents a roughly 9% decrease from the previous price target of $21 per share.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe lower price target for LEVI stock is actually below what it was trading for at close on Tuesday. LEVI stock was sitting at $19.80 when the markets closed. This has that price target sitting at about 4% lower than that. It's worth noting that this new price target does still have LEVI above its IPO price of $17 per share in March.The Goldman Sachs analyst gives a couple of reasons behind the bad Levi's news. The first is that the wholesale sector in the U.S. is already facing tough times. The second is that the hype around LEVI stock isn't justified based on its brand growth, reports Bloomberg. * 9 Retail Stocks Goldman Sachs Says Are Ready to Rip Levi's news has been rough lately after reporting an earnings miss earlier this month. That saw the company bringing in earnings per share of 7 cents. Unfortunately, that was below Wall Street's earnings per share estimate of 8 cents for the period.LEVI stock was down 5% as of noon Wednesday. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 9 Retail Stocks Goldman Sachs Says Are Ready to Rip * 7 Services Stocks to Buy for the Rest of 2019 * 6 Stocks to Buy and 1 to Sell Based on Insider Trading As of this writing, William White did not hold a position in any of the aforementioned securities.The post Levi's News: LEVI Stock Takes a Hit on Goldman Sachs Downgrade appeared first on InvestorPlace.
Shares of (LEVI)(PVH), and (RL) fell as (GS) downgraded the trio to Sell, warning of more headwinds for the apparel retailers. Levi Strauss (ticker: LEVI) made its debut this year in a $6.2 billion initial public offering and the stock rose following its first post-IPO earnings report. Ralph Lauren (RL) is up 7.3% in 2019.
Levi Strauss, Ralph Lauren and PVH are all taking a dip Wednesday after Goldman Sachs analysts downgraded the three apparel companies to sell from neutral. Analyst Alexandra Walvis said headwinds will intensify in the second half. "The combination of persistently tough first-half retail trends and an optimistic spring ordering season has driven inventory overhangs at several multibrand retailers.
Investing.com – Levi Strauss led the slump in apparel stocks Tuesday after Goldman Sachs (NYSE:GS) signaled it was time to move out of apparel brands who rely on department stores to flog their branded merchandise amid fears that increasingly unfashionable performances await in the second half of the year.
Concerns about the wholesale channel sparked downgrades of Levi Strauss & Co. , Ralph Lauren Corp , and Calvin Klein parent PVH Corp. at Goldman Sachs. The downgrades sent each of the apparel stocks down, with Levi Strauss tumbling 4%, Ralph Lauren falling 3.7% and PVH down 3.4% in Wednesday trading. Goldman expects headwinds for the wholesale channel to ramp up in the second half of the year. "The combination of persistently tough first-half retail trends and an optimistic spring ordering season has driven inventory overhangs at several multibrand retailers," the Goldman note said. "These retailers are thus tightening up ordering as we head into the critical back-to-school and holiday season. We thus see incremental sell-in risk for apparel brands, particularly those with high exposure to department stores." Goldman expects growth at PVH's Tommy Hilfiger brand to "fade," thinks Ralph Lauren's wholesale troubles will be amplified by brand challenges at Polo and Lauren, and is worried that growth in Levi's tops business will decline. Levi stock is down 19% over the last three months, Ralph Lauren is down nearly 16%, and PVH is down 32.2%. The ProShares Decline of the Retail Store ETF has climbed nearly 11% over the last three months and the S&P 500 index has gained 3.5% for the period.
Levi Strauss reported an earnings decline because of IPO expenses and currency fluctuations. The stock fell in response, but could this sell-off be a buying opportunity?
If it hits the top of its price range and underwriters buy their full allotment, Livongo would have an initial market cap of about $2.1 billion.
Levi Strauss & Co. shares plummeted 12% in Wednesday trading after the iconic denim company detailed the ongoing challenges in department-store sales, with the near-term poised for even more problems. Contradicting the stock decline, Levi Strauss (LEVI) reported second-quarter earnings and sales that beat expectations. “We will remain focused on optimizing execution in the U.S. wholesale channel going forward,” said Levi Strauss’ Chief Financial Officer Harmit Singh on the earnings call, according to the FactSet transcript.
Jim Cramer explains what happened with Levi Strauss's earnings and what he's watching in the markets as a down week turns into a day of new all-time highs.
The Nasdaq on Wednesday scored a record close, its first in about a week, and the broader market finished at or near all-time highs as investors raised their expectations for a decrease in benchmark interest rates at the end of the month. The Nasdaq Composite Index closed up 0.8% at 8,202, notching its first record close since July 3. The S&P 500 index , meanwhile, carved out a fresh intraday record at 3,002.89, briefly punching through a psychological milestone at 3,000. The index, however, pulled back from that level to close 0.5% higher at 2,993, just shy of its July 3 closing record at 2,995.82. The Dow Jones Industrial Average finished with a gain of 77 points, or 0.3%, to reach 26,860 (all benchmark closing values are on a preliminary basis). Market participants reacted to comments from Fed Chairman Jerome Powell who delivered his first in two days of semiannual congressional testimony, outlining the state of the domestic economy. The central bank boss said "uncertainties about the outlook have increased in recent months," providing some cover for policy makers to cut rates by at least 25 basis points at the conclusion of its two-day policy meeting on July 30-31. The market has been betting on greater rate reductions by the central bank's rate-setting committee to combat U.S.-China trade headwinds. "In particular, economic momentum appears to have slowed in some major foreign economies, and that weakness could affect the U.S. economy." On top that, an account of the Fed's most recent policy meeting indicated that "many," or a majority, were supportive of cutting rates which currently stand at a range between 2.25%-2.50%. In corporate news, shares of Levi Strauss & Co. fell sharply after the apparel company released second-quarter earnings Tuesday evening that showed a decline in earnings, slipping below consensus expectations.
Investors are wearing Levi's, the stock, and after last evening's earnings report they are dressed for a lack of success. Levi Strauss & Co. came public on March 21st with much fanfare, the first big deal of the year, right before the debacle that was Lyft , the driving ecosystem that turned out to be a cab company. Levi's, the company, is storied.
The Dow Jones Industrials hit an all-time high of 26,983, jumping more than 2,300 points, or 9.3%, from a June 3 low. IBD noted a key market turn June 7.
Investors sized up the iconic jeans manufacturer's second quarter and quickly sold shares of the newly public company.
Levi's reported a beat on the top and bottom lines, although adjusted EBITDA fell short of expectations by around 3.5%, Balsky said in a Wednesday note. Levi's revised guidance implies constant currency sales growth of 4% in the back half of the year, which marks a deceleration from 10% in the first half of the year, Balsky said. The full-year 2019 sales guidance update at the high-end of the company's prior mid-single digit sales growth target was a disappointment, she said, as the stock's valuation reflected expectations for a bigger move higher.
Yahoo Finance’s The First Trade has been keeping an eye on retailers as the calendar gets ready to flip to August. The key back-to-school shopping season is just about to kick off -- but 2Q results are shaping up to be pretty bad. Alexis Christoforous and Brian Sozzi discuss.
Levi Strauss & Co. shares tumbled after reporting second quarter earnings that missed profit expectations. Yahoo Finance's Heidi Chung joins Seana Smith on 'The Ticker' to discuss.