ConAgra Foods Upgraded by Goldman Sachs Group Inc. to “Buy” (CAG)
ConAgra Foods (NYSE:CAG) was upgraded by stock analysts at Goldman Sachs Group Inc. from a “neutral” rating to a “buy” rating in a report issued on Wednesday, TheFlyOnTheWall.com reports.
Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Chase & Co. cut their price target on shares of ConAgra Foods (NYSE:CAG) from $39.00 to $36.00 in a research note to investors on Tuesday. They now have an “overweight” rating on the stock. Separately, 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.
One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $37.42.
ConAgra Foods (NYSE:CAG) traded down 0.35% on Wednesday, hitting $31.43. 2,613,199 shares of the company’s stock traded hands. ConAgra Foods has a 52-week low of $25.50 and a 52-week high of $37.28. The stock’s 50-day moving average is $35.39 and its 200-day moving average is $35.09. The company has a market cap of $13.186 billion and a price-to-earnings ratio of 17.05.
ConAgra Foods (NYSE:CAG) last announced its earnings results on Thursday, June 27th. The company reported $0.60 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.51 earnings per share. The company’s quarterly revenue was up 33.7% on a year-over-year basis. On average, analysts predict that ConAgra Foods will post $2.41 earnings per share for the current fiscal year.
ConAgra Foods, Inc (NYSE:CAG) is a food company.
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