Tyson Foods Stock Rating Lowered by Credit Suisse (TSN)
Tyson Foods (NYSE:TSN) was downgraded by analysts at Credit Suisse from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Tuesday, TheFlyOnTheWall.com reports. They currently have a $35.00 price target on the stock, down from their previous price target of $40.00. Credit Suisse’s target price suggests a potential downside of 6.67% from the company’s current price.
Shares of Tyson Foods (NYSE:TSN) traded down 2.91% during mid-day trading on Tuesday, hitting $36.41. 2,096,394 shares of the company’s stock traded hands. Tyson Foods has a 52 week low of $24.74 and a 52 week high of $44.24. The stock’s 50-day moving average is $41.01 and its 200-day moving average is $38.11. The company has a market cap of $12.686 billion and a P/E ratio of 13.90. Tyson Foods also was the recipient of a significant increase in short interest during the month of May. As of May 15th, there was short interest totalling 11,398,805 shares, an increase of 36.1% from the April 30th total of 8,376,068 shares. Based on an average trading volume of 3,814,815 shares, the short-interest ratio is presently 3.0 days. Approximately 4.2% of the shares of the company are sold short.
Tyson Foods (NYSE:TSN) last released its earnings data on Monday, May 5th. The company reported $0.60 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.63 by $0.03. The company had revenue of $9.03 billion for the quarter, compared to the consensus estimate of $8.85 billion. During the same quarter in the prior year, the company posted $0.36 earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis. Analysts expect that Tyson Foods will post $2.89 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 0.80%. The ex-dividend date is Wednesday, August 27th.
TSN has been the subject of a number of other recent research reports. Analysts at ISI Group raised their price target on shares of Tyson Foods from $40.00 to $63.00 in a research note on Tuesday. Separately, analysts at Zacks downgraded shares of Tyson Foods from an “outperform” rating to a “neutral” rating in a research note on Friday. They now have a $43.00 price target on the stock. Finally, analysts at Citigroup Inc. downgraded shares of Tyson Foods from a “buy” rating to a “hold” rating in a research note on Friday. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. Tyson Foods currently has an average rating of “Hold” and an average price target of $42.75.
In other Tyson Foods news, EVP Ken Kimbro sold 2,488 shares of Tyson Foods stock on the open market in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $41.54, for a total value of $103,351.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Tyson Foods, Inc is a food production company. The Company produces, distributes and markets chicken, beef, pork, prepared foods and related allied products.
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