Morgan Stanley Reiterates “Equal Weight” Rating for SuperValu Inc. (SVU)
SuperValu Inc. (NYSE:SVU)‘s stock had its “equal weight” rating reissued by equities researchers at Morgan Stanley in a research report issued to clients and investors on Monday. They presently have a $3.50 price objective on the stock, down from their previous price objective of $4.50. Morgan Stanley’s price objective points to a potential upside of 8.36% from the company’s previous close.
SVU has been the topic of a number of other reports. Royal Bank Of Canada restated a “hold” rating and issued a $6.00 target price on shares of SuperValu in a report on Wednesday, March 15th. Zacks Investment Research upgraded SuperValu from a “sell” rating to a “hold” rating in a report on Wednesday, March 15th. ValuEngine cut SuperValu from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Guggenheim restated a “neutral” rating on shares of SuperValu in a report on Wednesday, April 19th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $5.11.
SuperValu (NYSE SVU) traded up 0.31% during trading on Monday, hitting $3.23. 9,604,888 shares of the company were exchanged. The stock has a market capitalization of $862.41 million, a PE ratio of 1.32 and a beta of 2.05. The firm’s 50 day moving average price is $3.96 and its 200-day moving average price is $4.07. SuperValu has a 1-year low of $2.93 and a 1-year high of $5.74.
SuperValu (NYSE:SVU) last issued its quarterly earnings results on Tuesday, April 25th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.04. SuperValu had a negative return on equity of 88.07% and a net margin of 4.34%. The company had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same period last year, the firm earned $0.23 EPS. The firm’s revenue for the quarter was up .6% on a year-over-year basis. Equities analysts predict that SuperValu will post $0.36 EPS for the current year.
Several hedge funds have recently modified their holdings of SVU. BlackRock Inc. boosted its stake in shares of SuperValu by 11,576.6% in the first quarter. BlackRock Inc. now owns 41,258,226 shares of the company’s stock valued at $159,258,000 after buying an additional 40,904,886 shares during the period. UBS Oconnor LLC boosted its stake in shares of SuperValu by 323.4% in the first quarter. UBS Oconnor LLC now owns 9,222,644 shares of the company’s stock valued at $35,599,000 after buying an additional 7,044,616 shares during the period. Norges Bank acquired a new stake in shares of SuperValu during the fourth quarter valued at approximately $14,230,000. Allianz Asset Management AG acquired a new stake in shares of SuperValu during the fourth quarter valued at approximately $11,208,000. Finally, Westpac Banking Corp acquired a new stake in shares of SuperValu during the first quarter valued at approximately $5,238,000. 80.42% of the stock is owned by institutional investors and hedge funds.
Supervalu Inc is a wholesale distributor to independent retail customers across the United States. The Company’s segments include Wholesale and Retail. The Company offers a range of advertised brand name and private-label products, including grocery (both perishable and nonperishable), general merchandise and home, health and beauty care, and pharmacy, which are sold through Company-operated and licensed Retail stores to shoppers and through its Wholesale segment to independent retail customers.
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