AdvancePierre Foods Holdings Inc (APFH) Rating Increased to Buy at Zacks Investment Research
AdvancePierre Foods Holdings Inc (NASDAQ:APFH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm currently has a $31.00 price target on the stock. Zacks Investment Research’s target price suggests a potential upside of 11.95% from the stock’s previous close.
According to Zacks, “AdvancePierre Foods Holdings, Inc. is a producer and distributor of sandwiches, sandwich components, other entrees and snacks. The company serves foodservice, retail and convenience store. Its product consists of breakfast sandwiches, peanut butter and jelly sandwiches, hamburgers, fully cooked hamburger, chicken patties, Philly steaks, country-fried steak, stuffed entrées, chicken tenders and cinnamon dough bites. AdvancePierre Foods Holdings, Inc. is headquartered in Cincinnati, Ohio. “
Several other research firms have also issued reports on APFH. Goldman Sachs Group Inc. initiated coverage on AdvancePierre Foods Holdings in a research note on Tuesday, August 9th. They issued a “neutral” rating and a $27.00 target price on the stock. Barclays PLC initiated coverage on AdvancePierre Foods Holdings in a research note on Tuesday, August 9th. They issued an “equal weight” rating and a $27.00 target price on the stock. Morgan Stanley initiated coverage on AdvancePierre Foods Holdings in a research note on Tuesday, August 9th. They issued an “overweight” rating and a $28.00 target price on the stock. Wells Fargo & Co. initiated coverage on AdvancePierre Foods Holdings in a research note on Monday, August 15th. They issued an “outperform” rating on the stock. Finally, Deutsche Bank AG initiated coverage on AdvancePierre Foods Holdings in a research note on Tuesday, August 9th. They issued a “buy” rating and a $28.00 target price on the stock. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. AdvancePierre Foods Holdings presently has an average rating of “Buy” and a consensus target price of $28.43.
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Shares of AdvancePierre Foods Holdings (NASDAQ:APFH) traded down 0.72% during trading on Tuesday, hitting $27.69. 236,252 shares of the stock traded hands. The firm has a market cap of $2.13 billion and a price-to-earnings ratio of 17.44. AdvancePierre Foods Holdings has a 52-week low of $22.99 and a 52-week high of $28.32. The stock has a 50 day moving average of $26.24 and a 200 day moving average of $25.49.
AdvancePierre Foods Holdings (NASDAQ:APFH) last released its quarterly earnings data on Wednesday, August 10th. The company reported $0.37 earnings per share 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 business’s quarterly revenue was down 5.4% compared to the same quarter last year. Analysts expect that AdvancePierre Foods Holdings will post $1.67 EPS for the current year.
The firm also recently declared a special dividend, which was paid on Wednesday, September 28th. Stockholders of record on Monday, August 29th were paid 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 business’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 document filed with the SEC, which is accessible through this hyperlink.
A hedge fund recently bought a new stake in AdvancePierre Foods Holdings stock. Moody Aldrich Partners LLC bought a new position in AdvancePierre Foods Holdings Inc (NASDAQ:APFH) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 85,340 shares of the company’s stock, valued at approximately $2,352,000. AdvancePierre Foods Holdings accounts for approximately 1.6% of Moody Aldrich Partners LLC’s investment portfolio, making the stock its 13th largest position. Moody Aldrich Partners LLC owned approximately 0.11% of AdvancePierre Foods Holdings at the end of the most recent reporting period.
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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