Zacks Investment Research cut shares of Levi Strauss & Co. (NYSE:LEVI) from a hold rating to a sell rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Levi Strauss & Co. designs and markets jeans, casual wear and related accessories for men, women and children under the Levi’s(R), Dockers(R), Signature by Levi Strauss & Co.(TM) and Denizen(R)brands. Its products are sold through chain retailers, department stores, online sites and brand-dedicated retail stores and shop-in-shops. Levi Strauss & Co. is based in San Francisco, United States. “

A number of other analysts also recently issued reports on LEVI. Macquarie started coverage on Levi Strauss & Co. in a research report on Monday, October 21st. They issued an outperform rating on the stock. ValuEngine raised Levi Strauss & Co. from a sell rating to a hold rating in a research report on Wednesday, October 2nd. Guggenheim reaffirmed a buy rating on shares of Levi Strauss & Co. in a research report on Wednesday, September 4th. Finally, Bank of America lifted their target price on Levi Strauss & Co. from $20.00 to $22.00 and gave the company a buy rating in a research report on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $23.86.

NYSE:LEVI opened at $18.96 on Wednesday. The company has a quick ratio of 1.58, a current ratio of 2.37 and a debt-to-equity ratio of 0.69. The stock’s 50-day simple moving average is $17.24 and its 200 day simple moving average is $18.62. Levi Strauss & Co. has a 52-week low of $16.00 and a 52-week high of $24.50.

Levi Strauss & Co. (NYSE:LEVI) last released its earnings results on Tuesday, October 8th. The blue-jean maker reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. The business had revenue of $1.45 million for the quarter, compared to the consensus estimate of $1.44 billion. Levi Strauss & Co. had a return on equity of 37.44% and a net margin of 6.85%. The company’s quarterly revenue was up 4.3% on a year-over-year basis. On average, analysts expect that Levi Strauss & Co. will post 1.07 earnings per share for the current fiscal year.

In other Levi Strauss & Co. news, major shareholder Walter J. Haas sold 122,077 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $17.13, for a total transaction of $2,091,179.01. Also, EVP Seth M. Ellison sold 125,860 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $17.05, for a total value of $2,145,913.00. In the last three months, insiders have sold 819,932 shares of company stock worth $14,037,368. Company insiders own 17.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Advisor Group Inc. increased its position in Levi Strauss & Co. by 5.7% during the second quarter. Advisor Group Inc. now owns 21,161 shares of the blue-jean maker’s stock worth $442,000 after buying an additional 1,136 shares during the last quarter. NumerixS Investment Technologies Inc acquired a new position in shares of Levi Strauss & Co. in the second quarter valued at approximately $58,000. Aperio Group LLC acquired a new position in shares of Levi Strauss & Co. in the second quarter valued at approximately $62,000. Parallel Advisors LLC grew its position in shares of Levi Strauss & Co. by 78.2% in the third quarter. Parallel Advisors LLC now owns 8,204 shares of the blue-jean maker’s stock valued at $156,000 after purchasing an additional 3,600 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its position in shares of Levi Strauss & Co. by 33.1% in the second quarter. Commonwealth Equity Services LLC now owns 22,258 shares of the blue-jean maker’s stock valued at $464,000 after purchasing an additional 5,533 shares during the last quarter. 10.37% of the stock is currently owned by hedge funds and other 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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