Diamond Foods Stock Rating Reaffirmed by Jefferies Group (DMND)
Diamond Foods (NASDAQ:DMND)‘s stock had its “hold” rating reiterated by equities research analysts at Jefferies Group in a research note issued to investors on Wednesday, Stock Ratings Network reports. They currently have a $21.00 price target on the stock, up from their previous price target of $19.00. Jefferies Group’s price objective would suggest a potential downside of 7.85% from the company’s current price.
The analysts wrote, “DMND announced terms of a proposed settlement with shareholders today that would require the co to pay $11 million and issue 4.45 million shares. We view this as a positive development because it removes the dilution uncertainty. However, investors still need to learn about the state of the walnut grower base and revenues continue to decline even though the rate of decline seems to have bottomed. Until we get more clarity we remain cautious.”
Other equities research analysts have also recently issued reports about the stock. Analysts at SunTrust reiterated a “hold” rating on shares of Diamond Foods in a research note to investors on Wednesday. They now have a $20.00 price target on the stock. Separately, analysts at DA Davidson raised their price target on shares of Diamond Foods from $20.00 to $24.00 in a research note to investors on Wednesday. Finally, analysts at Zacks upgraded shares of Diamond Foods from an “underperform” rating to a “neutral” rating in a research note to investors on Thursday, June 27th. They now have a $21.00 price target on the stock.
Six research analysts have rated the stock with a hold rating, Diamond Foods presently has an average rating of “Hold” and a consensus price target of $18.50.
Shares of Diamond Foods (NASDAQ:DMND) traded down 3.47% during mid-day trading on Wednesday, hitting $22.00. 556,259 shares of the company’s stock traded hands. Diamond Foods has a 52 week low of $12.85 and a 52 week high of $23.38. The stock’s 50-day moving average is $21.07 and its 200-day moving average is $17.56. The company’s market cap is $489.5 million.
Diamond Foods (NASDAQ:DMND) last released its earnings data on Monday, June 10th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.22. The company had revenue of $184.90 million for the quarter, compared to the consensus estimate of $175.78 million. During the same quarter in the previous year, the company posted ($0.22) earnings per share. The company’s revenue for the quarter was down 11.0% on a year-over-year basis. Analysts expect that Diamond Foods will post $0.26 EPS for the current fiscal year.
Diamond Foods, Inc (NASDAQ:DMND) is a packaged food company focused on building, acquiring and energizing brands.
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