Pinnacle Foods Now Covered by Goldman Sachs Group Inc. (PF)
Research analysts at Goldman Sachs Group Inc. initiated coverage on shares of Pinnacle Foods (NYSE:PF) in a report released on Wednesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock.
A number of other analysts have also recently weighed in on PF. Analysts at Morgan Stanley reiterated a “hold” rating on shares of Pinnacle Foods in a research note to investors on Thursday, October 10th. They now have a $27.00 price target on the stock. Separately, analysts at Stifel Nicolaus raised their price target on shares of Pinnacle Foods from $27.00 to $29.00 in a research note to investors on Thursday, October 10th. They now have a “buy” rating on the stock. Finally, analysts at Zacks upgraded shares of Pinnacle Foods from a “neutral” rating to an “outperform” rating in a research note to investors on Monday, August 19th. They now have a $28.50 price target on the stock. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $28.08.
In other Pinnacle Foods news, CFO Craig Steeneck sold 10,000 shares of the company’s stock on the open market in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $25.81, for a total value of $258,100.00. Following the completion of the sale, the chief financial officer now directly owns 407,697 shares of the company’s stock, valued at approximately $10,522,660. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Pinnacle Foods (NYSE:PF) opened at 26.31 on Wednesday. Pinnacle Foods has a one year low of $22.15 and a one year high of $28.52. The stock has a 50-day moving average of $26.74 and a 200-day moving average of $25.32. The company has a market cap of $3.082 billion and a P/E ratio of 53.15.
Pinnacle Foods (NYSE:PF) last announced its earnings results on Wednesday, August 14th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.02. The company had revenue of $569.00 million for the quarter, compared to the consensus estimate of $576.64 million. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. On average, analysts predict that Pinnacle Foods will post $1.56 earnings per share for the current fiscal year.
Pinnacle Foods Inc is a manufacturer, marketer and distributor of branded food products in North America.
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