Analysts on Wall Street Lower Ratings for These 5 Stocks

03. V.F. Corporation (NYSE:VFC)

Price Reaction after the Downgrade: -0.83 (-4.57%)

On September 18, V.F. Corporation (NYSE:VFC) shares experienced a decline of 4.5% following a downgrade by Piper Sandler. The downgrade involved a shift from an “Overweight” rating to a “Neutral” rating, accompanied by a reduction in the price target from $28 to $20. This downgrade and the corresponding price target adjustment have contributed to the decrease in V.F. Corporation (NYSE:VFC) stock price, indicating that investors are reacting to the change in the company’s outlook and valuation as assessed by Piper Sandler.

Diamond Hill Large Cap Strategy made the following comment about V.F. Corporation (NYSE:VFC) in its Q4 2022 investor letter:

“Apparel and footwear company V.F. Corporation (NYSE:VFC)’s stock declined in Q4 after management lowered guidance based on weaker-than-expected demand in North America, higher promotions and elevated wholesale order cancellations. The company also announced a CEO transition, effective immediately. Following these developments, we sold our shares in favor of higher conviction ideas.”