Barclays PLC Reiterates “Equal Weight” Rating for AdvancePierre Foods Holdings Inc (APFH)
AdvancePierre Foods Holdings Inc (NASDAQ:APFH)‘s stock had its “equal weight” rating reissued by stock analysts at Barclays PLC in a report issued on Tuesday. They currently have a $27.00 price target on the stock. Barclays PLC’s target price would suggest a potential downside of 1.68% from the stock’s current price.
APFH has been the subject of several other reports. Goldman Sachs Group Inc. initiated coverage on AdvancePierre Foods Holdings in a research report on Tuesday, August 9th. They issued a “neutral” rating and a $27.00 target price for the company. Morgan Stanley initiated coverage on AdvancePierre Foods Holdings in a research report on Tuesday, August 9th. They issued an “overweight” rating and a $28.00 target price for the company. Wells Fargo & Co. initiated coverage on AdvancePierre Foods Holdings in a research report on Monday, August 15th. They issued an “outperform” rating for the company. Credit Suisse Group AG initiated coverage on AdvancePierre Foods Holdings in a research report on Tuesday, August 9th. They issued an “outperform” rating and a $29.00 target price for the company. Finally, Deutsche Bank AG initiated coverage on AdvancePierre Foods Holdings in a research report on Tuesday, August 9th. They issued a “buy” rating and a $28.00 target price for the company. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $28.00.
Shares of AdvancePierre Foods Holdings (NASDAQ:APFH) traded up 1.33% during trading on Tuesday, hitting $27.46. The company had a trading volume of 257,813 shares. AdvancePierre Foods Holdings has a 12-month low of $22.99 and a 12-month high of $27.88. The stock has a 50-day moving average of $26.01 and a 200 day moving average of $25.34. The stock has a market capitalization of $2.11 billion and a price-to-earnings ratio of 17.29.
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AdvancePierre Foods Holdings (NASDAQ:APFH) last posted its earnings results on Wednesday, August 10th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.21 by $0.16. The firm earned $370 million during the quarter, compared to the consensus estimate of $391.90 million. The company’s revenue was down 5.4% compared to the same quarter last year. On average, analysts predict that AdvancePierre Foods Holdings will post $1.67 EPS for the current fiscal year.
The business also recently disclosed a special dividend, which was paid on Wednesday, September 28th. Stockholders of record on Monday, August 29th were given a dividend of $0.14 per share. The ex-dividend date was Thursday, August 25th.
In other news, Director Principal Opportunities Fu Ocm sold 8,630,190 shares of the firm’s stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $21.00, for a total transaction of $181,233,990.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
About AdvancePierre Foods Holdings
AdvancePierre Foods Holdings, Inc, formerly Pierre Foods Holding Corporation, is a producer and distributor of sandwiches, sandwich components, and other entrees and snacks. The Company operates through segments, including Foodservice, which sells its products to national and regional distributors; Retail, which supplies its products to national and regional grocery chains, major warehouse club stores, mass retailers and dollar stores; Convenience, which sells its products to national and regional convenience chains and vending providers, and Industrial, which includes sales to other food producers under short-term co-manufacturing agreements.
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