Last week, shares of North Face’s parent company VF Corp (NYSE: VFC) saw a steep drop after the company came under criticism after releasing a pride-themed ad featuring activist Pattie Gonia.
This, coupled with year-over-year declines in Q4 2023 earnings and revenue, put pressure on the apparel and footwear company’s stock, driving it down more than 3% on May 25.
However, it seems that this was not the end of VF Corp’s woes in the stock market. Shares of the Denver, Colorado-based company continued to tumble, bringing its 1-month losses to more than 20.6%. During that period, the stock witnessed a considerable trading range from $17.45 to $23.50.
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At press time, VFC was trading at $18.06, rebounding around 3.5% at the market open on Friday, May 26.
Year-to-date, VF Corp’s shares have lost over 35% of value due to a mix of different factors, including sales pressures, tough macroeconomic conditions, and dividend reduction.
1-year price forecast
Despite a challenging year, the consensus rating on VFC stock on TradingView is still ‘buy,’ based on 23 analysts’ views over the past three months. More specifically, 8 analysts are viewing the stock as a ‘strong buy,’ 1 believes it is a ‘buy,’ while 12 are advising a ‘hold.’ At the same time, two analysts rated VFC as a ‘sell’ and ‘strong sell.’
Looking ahead, 19 stock market experts offered their 1-year price forecasts for VFC, giving it an average price target of $24.71, which is nearly 39% higher than the stock’s current price level. Among those predictions, the highest and the lowest estimate stand at $38 and $18 per share, respectively.
More recently, several analysts from prominent Wall Street firms trimmed their price objectives on VFC in the wake of their soft earnings report and recent ad controversy.
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