Hershey Rating Increased to Buy at Deutsche Bank (HSY)
Hershey (NYSE:HSY) was upgraded by equities research analysts at Deutsche Bank from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, TheFlyOnTheWall.com reports. The firm currently has a $108.00 price objective on the stock, up from their previous price objective of $90.00. Deutsche Bank’s price objective indicates a potential upside of 10.50% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Hershey in a research note to investors on Tuesday, December 3rd. They now have a $101.00 price target on the stock. Separately, analysts at RBC Capital initiated coverage on shares of Hershey in a research note to investors on Monday, November 25th. They set an “outperform” rating and a $110.00 price target on the stock. Finally, analysts at Argus raised their price target on shares of Hershey from $107.00 to $115.00 in a research note to investors on Thursday, November 7th. They now have a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. Hershey currently has an average rating of “Hold” and an average price target of $99.21.
Hershey (NYSE:HSY) traded up 0.76% on Wednesday, hitting $97.74. 1,493,671 shares of the company’s stock traded hands. Hershey has a 52-week low of $74.27 and a 52-week high of $101.37. The stock has a 50-day moving average of $96.18 and a 200-day moving average of $94.49. The company has a market cap of $21.854 billion and a price-to-earnings ratio of 28.12.
Hershey (NYSE:HSY) last issued its quarterly earnings data on Thursday, October 24th. The company reported $1.03 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.00 by $0.03. The company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter last year, the company posted $0.87 earnings per share. Hershey’s revenue was up 6.1% compared to the same quarter last year. On average, analysts predict that Hershey will post $3.72 earnings per share for the current fiscal year.
The Hershey Company is a producer of chocolate in North America and a provider in chocolate and sugar confectionery.
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