Inventure Foods Inc. (SNAK) Trading Down 1%
Shares of Inventure Foods Inc. (NASDAQ:SNAK) dropped 1% on Wednesday . The stock traded as low as $9.35 and last traded at $9.51, with a volume of 73,968 shares traded. The stock had previously closed at $9.61.
SNAK has been the topic of several recent research reports. Zacks Investment Research downgraded Inventure Foods from a “hold” rating to a “sell” rating in a research note on Wednesday, June 29th. DA Davidson upped their price target on Inventure Foods from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Friday, September 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. Inventure Foods has an average rating of “Buy” and a consensus target price of $9.60.
The stock’s 50-day moving average is $9.51 and its 200-day moving average is $7.67. The firm’s market cap is $187.07 million.
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Inventure Foods (NASDAQ:SNAK) last issued its quarterly earnings results on Wednesday, July 27th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by $0.02. The firm had revenue of $69.30 million for the quarter, compared to analysts’ expectations of $66.40 million. Inventure Foods had a negative return on equity of 7.31% and a negative net margin of 1.98%. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.02) earnings per share. Equities analysts anticipate that Inventure Foods Inc. will post $0.04 earnings per share for the current fiscal year.
Several large investors have recently modified their holdings of the company. Parametric Portfolio Associates LLC purchased a new stake in shares of Inventure Foods during the second quarter worth approximately $106,000. Rhumbline Advisers increased its stake in shares of Inventure Foods by 0.5% in the second quarter. Rhumbline Advisers now owns 18,546 shares of the company’s stock worth $145,000 after buying an additional 90 shares during the period. Wedbush Securities Inc. increased its stake in shares of Inventure Foods by 2.6% in the second quarter. Wedbush Securities Inc. now owns 31,295 shares of the company’s stock worth $244,000 after buying an additional 800 shares during the period. BlackRock Investment Management LLC increased its stake in shares of Inventure Foods by 6.2% in the second quarter. BlackRock Investment Management LLC now owns 73,237 shares of the company’s stock worth $572,000 after buying an additional 4,260 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Inventure Foods by 2.0% in the first quarter. Geode Capital Management LLC now owns 126,354 shares of the company’s stock worth $713,000 after buying an additional 2,533 shares during the period. Institutional investors and hedge funds own 94.52% of the company’s stock.
About Inventure Foods
Inventure Foods, Inc is a marketer and manufacturer of healthy/natural and indulgent specialty snack food brands. The Company operates in two segments: frozen products and snack products. The frozen products segment produces frozen fruits, vegetables, beverages and frozen desserts for sale primarily to groceries, club stores and mass merchandisers.
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