JPMorgan Chase & Co. Lowers ConAgra Foods Price Target to $36.00 (CAG)
JPMorgan Chase & Co. reduced their target price on shares of ConAgra Foods (NYSE:CAG) from $39.00 to $36.00 in a research note issued on Tuesday, American Banking & Market News reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s target price points to a potential upside of 14.14% from the stock’s previous close.
Shares of ConAgra Foods (NYSE:CAG) traded down 6.02% on Tuesday, hitting $31.54. The stock had a trading volume of 19,109,120 shares. ConAgra Foods has a 1-year low of $25.50 and a 1-year high of $37.28. The stock has a 50-day moving average of $35.54 and a 200-day moving average of $35.10. The company has a market cap of $13.232 billion and a P/E ratio of 18.14.
ConAgra Foods (NYSE:CAG) last issued its quarterly earnings data on Thursday, June 27th. The company reported $0.60 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.59 by $0.01. The company had revenue of $4.59 billion for the quarter, compared to the consensus estimate of $4.61 billion. During the same quarter last year, the company posted $0.51 earnings per share. ConAgra Foods’s revenue was up 33.7% compared to the same quarter last year. On average, analysts predict that ConAgra Foods will post $2.41 earnings per share for the current fiscal year.
A number of other firms have also recently commented on CAG. Analysts at Zacks reiterated a “neutral” rating on shares of ConAgra Foods (NYSE:CAG) in a research note to investors on Monday, July 8th. They now have a $37.00 price target on the stock. Separately, analysts at Goldman Sachs Group Inc. reiterated an “overweight” rating on shares of ConAgra Foods (NYSE:CAG) in a research note to investors on Friday, June 28th. They now have a $41.00 price target on the stock, up previously from $40.00. Finally, analysts at Jefferies Group reiterated a “buy” rating on shares of ConAgra Foods (NYSE:CAG) in a research note to investors on Tuesday, June 25th. They now have a $40.00 price target on the stock.
One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $37.69.
ConAgra Foods, Inc (NYSE:CAG) is a food company.
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