Pinnacle Foods Upgraded by Credit Suisse to Outperform (PF)
Pinnacle Foods (NYSE:PF) was upgraded by research analysts at Credit Suisse from a “neutral” rating to an “outperform” rating in a report released on Friday, TheFlyOnTheWall.com reports.
A number of other analysts have also recently weighed in on PF. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Pinnacle Foods in a research note on Monday, June 2nd. They now have a $35.00 price target on the stock, down previously from $36.00. Separately, analysts at RBC Capital raised their price target on shares of Pinnacle Foods from $31.00 to $36.00 in a research note on Wednesday, May 14th. They now have a “sector perform” rating on the stock. Finally, 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, May 13th. They now have a $38.00 price target on the stock, up previously from $31.00. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Pinnacle Foods has an average rating of “Hold” and an average target price of $31.16.
Pinnacle Foods (NYSE:PF) opened at 32.10 on Friday. Pinnacle Foods has a 52 week low of $23.56 and a 52 week high of $35.67. The stock’s 50-day moving average is $31.91 and its 200-day moving average is $29.04. The company has a market cap of $3.765 billion and a price-to-earnings ratio of 35.59. Pinnacle Foods also was the target of a significant growth in short interest in the month of May. As of May 15th, there was short interest totalling 2,474,660 shares, a growth of 143.6% from the April 30th total of 1,015,829 shares. Based on an average trading volume of 4,251,314 shares, the days-to-cover ratio is presently 0.6 days. Approximately 4.6% of the shares of the company are short sold.
Pinnacle Foods (NYSE:PF) last issued its quarterly earnings data on Wednesday, May 14th. The company reported $0.36 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.35 by $0.01. The company had revenue of $644.00 million for the quarter, compared to the consensus estimate of $649.30 million. During the same quarter in the prior year, the company posted $0.34 earnings per share. The company’s quarterly revenue was up 5.1% 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.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, July 8th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend is Thursday, May 29th.
In other Pinnacle Foods news, CFO Craig D. Steeneck unloaded 10,000 shares of Pinnacle Foods stock on the open market in a transaction dated Monday, June 2nd. The shares were sold at an average price of $31.62, for a total value of $316,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Pinnacle Foods Inc is a manufacturer, marketer and distributor of branded food products in North America.
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.