AdvancePierre Foods Holdings Inc (APFH) Upgraded 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 presently has a $31.00 target price on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 11.95% from the company’s current price.
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 brokerages have also issued reports on APFH. Barclays PLC reiterated an “equal weight” rating and issued a $27.00 price objective on shares of AdvancePierre Foods Holdings in a research report on Tuesday, October 11th. Wells Fargo & Co. began coverage on AdvancePierre Foods Holdings in a research report on Monday, August 15th. They set an “outperform” rating for the company. Credit Suisse Group AG began coverage on AdvancePierre Foods Holdings in a research report on Tuesday, August 9th. They set an “outperform” rating and a $29.00 price target for the company. Deutsche Bank AG began coverage on AdvancePierre Foods Holdings in a research report on Tuesday, August 9th. They set a “buy” rating and a $28.00 price target for the company. Finally, Morgan Stanley began coverage on AdvancePierre Foods Holdings in a research report on Tuesday, August 9th. They set an “overweight” rating and a $28.00 price target for the company. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. AdvancePierre Foods Holdings currently has an average rating of “Buy” and an average target price of $28.43.
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Shares of AdvancePierre Foods Holdings (NASDAQ:APFH) traded down 0.72% during midday trading on Tuesday, hitting $27.69. 236,252 shares of the stock traded hands. The firm’s 50 day moving average price is $26.30 and its 200 day moving average price is $25.52. The company has a market capitalization of $2.13 billion and a PE ratio of 17.44. AdvancePierre Foods Holdings has a 12-month low of $22.99 and a 12-month high of $28.32.
AdvancePierre Foods Holdings (NASDAQ:APFH) last issued its quarterly earnings data on Wednesday, August 10th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.16. The business earned $370 million during the quarter, compared to analyst estimates of $391.90 million. The company’s revenue was down 5.4% on a year-over-year basis. Analysts expect that AdvancePierre Foods Holdings will post $1.67 EPS for the current year.
The business also recently disclosed 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 company’s stock in a transaction that occurred on 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 legal filing with the SEC, which is accessible through this link.
An institutional investor recently bought a new position in AdvancePierre Foods Holdings stock. Moody Aldrich Partners LLC purchased a new position in shares of AdvancePierre Foods Holdings Inc (NASDAQ:APFH) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 85,340 shares of the company’s stock, valued at approximately $2,352,000. AdvancePierre Foods Holdings comprises about 1.6% of Moody Aldrich Partners LLC’s investment portfolio, making the stock its 13th largest position. Moody Aldrich Partners LLC owned 0.11% of AdvancePierre Foods Holdings at the end of the most recent quarter.
AdvancePierre Foods Holdings Company Profile
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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