Diamond Foods Given “Neutral” Rating at Zacks (DMND)
Diamond Foods (NASDAQ:DMND)‘s stock had its “neutral” rating restated by Zacks in a research note issued on Wednesday, American Banking and Market News reports. They currently have a $22.00 price target on the stock. Zacks‘ price target points to a potential upside of 5.11% from the stock’s previous close.
Zacks‘ analyst wrote, “Based on the past two quarters of strong bottom-line results, we have reaffirmed our long-term Neutral recommendation on Diamond Foods. The company is progressing well with its cost saving endeavors and operational efficiencies. We believe that better price realization, reduction of underperforming SKUs and lower dependency on discounting would gradually facilitate the company reinstate on the growth trajectory. However, the near-term headwinds cannot be ignored with first-quarter fiscal 2014 sales projected to be lower on a year-over-year basis. Further, we believe that the challenges related to procuring walnut supplies and mending Diamond Food’s ties with growers are denting the company’s performance. Moreover, Diamond Foods’ high dependence on few retailers might prove unfavorable in case there is trouble in business negotiations.”
A number of other firms have also recently commented on DMND. Analysts at Jefferies Group reiterated a “hold” rating on shares of Diamond Foods in a research note to investors on Tuesday, October 1st. They now have a $21.00 price target on the stock. Separately, analysts at BMO Capital Markets raised their price target on shares of Diamond Foods from $14.00 to $18.00 in a research note to investors on Tuesday, October 1st. They now have a “market perform” rating on the stock. Finally, analysts at BB&T Corp. upgraded shares of Diamond Foods from a “hold” rating to a “buy” rating in a research note to investors on Thursday, September 26th. They now have a $28.00 price target on the stock. They noted that the move was a valuation call. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Diamond Foods presently has an average rating of “Hold” and an average target price of $20.11.
Shares of Diamond Foods (NASDAQ:DMND) traded down 0.62% during mid-day trading on Wednesday, hitting $20.80. The stock had a trading volume of 95,259 shares. Diamond Foods has a 1-year low of $12.85 and a 1-year high of $25.32. The stock has a 50-day moving average of $21.92 and a 200-day moving average of $19.03. The company’s market cap is $455.6 million.
Diamond Foods (NASDAQ:DMND) last announced its earnings results on Monday, September 30th. The company reported $0.09 earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.03) by $0.12. The company had revenue of $199.80 million for the quarter, compared to the consensus estimate of $192.53 million. During the same quarter last year, the company posted $0.05 earnings per share. Diamond Foods’s revenue was down 10.8% compared to the same quarter last year. Analysts expect that Diamond Foods will post $0.41 EPS for the current fiscal year.
Diamond Foods, Inc (NASDAQ:DMND) is a packaged food company focused on building, acquiring and energizing brands.
To view Zacks’ full report, visit www.zacks.com
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.