TreeHouse Foods Stock Price Up 3.9% on Earnings Beat (THS)
Shares of TreeHouse Foods (NYSE:THS) rose 3.9% during trading on Thursday following a stronger than expected earnings report, American Banking News reports. The stock traded as high as $79.62 and last traded at $78.95, with a volume of 434,117 shares trading hands. The stock had previously closed at $76.00.
The company reported $0.84 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.83 by $0.01. The company had revenue of $628.00 million for the quarter, compared to the consensus estimate of $615.64 million. During the same quarter in the prior year, the company posted $0.65 earnings per share. The company’s quarterly revenue was up 19.3% on a year-over-year basis.
Several analysts have recently commented on the stock. Analysts at Bank of America reiterated a “buy” rating on shares of TreeHouse Foods in a research note on Friday, July 18th. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of TreeHouse Foods in a research note on Tuesday, July 1st. They now have a $93.00 price target on the stock, up previously from $86.00. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $77.43.
In other TreeHouse Foods news, CEO Sam K. Reed unloaded 30,000 shares of TreeHouse Foods stock on the open market in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $72.02, for a total value of $2,160,600.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
The stock’s 50-day moving average is $77.35 and its 200-day moving average is $73.17. The company has a market cap of $2.901 billion and a price-to-earnings ratio of 36.38.
TreeHouse Foods, Inc (NYSE:THS) is a food manufacturer servicing the retail grocery and foodservice distribution channels.
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