Pinnacle Foods Given New $36.00 Price Target at RBC Capital (PF)
Equities research analysts at RBC Capital hoisted their target price on shares of Pinnacle Foods (NYSE:PF) from $31.00 to $36.00 in a research note issued to investors on Wednesday, Analyst Ratings Network reports. The firm currently has a “sector perform” rating on the stock. RBC Capital’s price target would suggest a potential upside of 5.88% from the stock’s previous close.
Shares of Pinnacle Foods (NYSE:PF) opened at 34.00 on Wednesday. Pinnacle Foods has a one year low of $23.37 and a one year high of $35.67. The stock’s 50-day moving average is $30.03 and its 200-day moving average is $28.27. The company has a market cap of $3.986 billion and a price-to-earnings ratio of 42.04.
Pinnacle Foods (NYSE:PF) last released its earnings data on Thursday, March 6th. The company reported $0.58 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.58. The company had revenue of $709.30 million for the quarter, compared to the consensus estimate of $718.39 million. The company’s revenue for the quarter was up .6% on a year-over-year basis. On average, analysts predict that Pinnacle Foods will post $1.74 earnings per share for the current fiscal year.
In other Pinnacle Foods news, CFO Craig Steeneck unloaded 10,000 shares of Pinnacle Foods stock on the open market in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $30.23, for a total transaction of $302,300.00. Following the completion of the transaction, the chief financial officer now directly owns 337,697 shares of the company’s stock, valued at approximately $10,208,580. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
PF has been the subject of a number of other recent research reports. Analysts at Credit Suisse downgraded shares of Pinnacle Foods from an “outperform” rating to a “neutral” rating in a research note on Tuesday. They now have a $36.00 price target on the stock, up previously from $33.00. Separately, analysts at BMO Capital Markets downgraded shares of Pinnacle Foods from an “outperform” rating to a “market perform” rating in a research note on Tuesday. They now have a $38.00 price target on the stock, up previously from $31.00. Finally, analysts at Stifel Nicolaus downgraded shares of Pinnacle Foods from a “buy” rating to a “hold” rating in a research note on Tuesday. They now have a $18.00 price target on the stock, down previously from $35.88. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Pinnacle Foods has an average rating of “Hold” and an average price target of $31.92.
Pinnacle Foods Inc is a manufacturer, marketer and distributor of branded food products in North America.
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