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Could the Sell Off In This Name Be a Buying Opportunity?

"Few things are more frustrating than watching a company announce what appears to be a better-than-expected quarter, watching them raise their forecasts for the rest of the year and then watching their stock get totally hammered," Cramer said Friday. "It’s always so confusing.

"You have to wonder, was the market’s harsh verdict wrong or was the quarter really not that good? Or maybe it just wasn’t good enough?"

The "Mad Money" host asked himself these questions after V.F. Corp. reported earnings before Friday's opening bell. V.F. Corp. delivered a 10 cent earnings beat off a $1.61 basis on revenues that rose 12 percent year-over-year. The apparel marker also reported record gross margin, meaning what it made after sales, of 47.2 percent. It raised its sales and earnings forecasts for 2011, too. Despite all of this, Cramer said the stock fell sharply on Friday.

So what happened? Cramer thinks the stock fell because it ran up too much ahead of the quarter.

"It’s not that they didn’t beat the expectations. It’s that the beat was widely anticipated and even though V.F. Corp. raised guidance, the numbers weren’t as upbeat as many had hoped, especially as, when you adjust for one-time items and currency, the earnings guidance came in below what the analysts were expecting," Cramer explained. "This is case of good, but not quite good enough given how much the stock had run."

Cramer noted that historically, V.F. Corp. has been a conservative company. He doesn't think the company is facing any long-term pressures and so it should be able to continue raising guidance through the remainder of the year. The current sell off could actually turn out to be a great buying opportunity, he said. But to learn more, he spoke with CEO Eric Wiseman. To see the full interview, watch the video.

Call Cramer: 1-800-743-CNBC

Questions for Cramer? madmoney@cnbc.com

Questions, comments, suggestions for the Mad Money website? madcap@cnbc.com

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