Supervalu Earns Neutral Rating from Zacks (SVU)
Supervalu (NYSE:SVU)‘s stock had its “neutral” rating reaffirmed by Zacks in a research report issued to clients and investors on Friday. They currently have a $10.00 price target on the stock. Zacks‘s price target would suggest a potential upside of 4.60% from the stock’s previous close.
Zacks’ analyst wrote, “SUPERVALU’s first-quarter fiscal 2014 earnings of $0.18 beat the Zacks Consensus Estimate by a penny and were also ahead of the prior-year quarter results by 28.6%. The improvement was backed by higher operating margins in all its segments as a result of effective cost-reduction initiatives. Net sales remained flat year over year as positive identical store sales in the Save-A-Lot network were offset by decline in identical store sales in independent business. Sales surpassed the Zacks Consensus Estimate by 1.0%. We commend the company’s efforts to shed its underperforming assets to cut operating costs. Moreover, it has undertaken several initiatives to improve comps in the retail sector as well as reduce operating costs. Though these initiatives are encouraging, the company is facing difficulties due to macroeconomic headwinds “
SVU has been the subject of a number of other recent research reports. Analysts at Telsey Advisory Group raised their price target on shares of Supervalu from $9.00 to $10.00 in a research note on Friday, July 25th. They now have a “not rated” rating on the stock. Separately, analysts at Cantor Fitzgerald reiterated a “buy” rating on shares of Supervalu in a research note on Monday, July 21st. They now have a $10.00 price target on the stock, up previously from $9.00. Finally, analysts at Morgan Stanley initiated coverage on shares of Supervalu in a research note on Wednesday, June 25th. They set an “underweight” rating and a $7.00 price target on the stock. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $15.61.
Shares of Supervalu (NYSE:SVU) traded down 0.94% during mid-day trading on Friday, hitting $9.47. 1,757,019 shares of the company’s stock traded hands. Supervalu has a 1-year low of $5.38 and a 1-year high of $9.78. The stock’s 50-day moving average is $9.03 and its 200-day moving average is $7.50. The company has a market cap of $2.434 billion and a price-to-earnings ratio of 17.84.
Supervalu (NYSE:SVU) last announced its earnings results on Thursday, July 24th. The company reported $0.18 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.18. The company had revenue of $5.23 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the prior year, the company posted $0.14 earnings per share. The company’s quarterly revenue was down .1% on a year-over-year basis. Analysts expect that Supervalu will post $0.64 EPS for the current fiscal year.
SUPERVALU INC. (NYSE:SVU) is a United States grocery channel.
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