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Here’s how much North Face stock is down this month amid ad controversy

Here’s how much North Face stock is down this month amid ad controversy

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.

VFC stock price action for the past month. Source: Finbold

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.’

1-year price forecast for VFC. Source: TradingView

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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