Inventure Foods, Inc. (NASDAQ:SNAK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

According to Zacks, “Inventure Foods, Inc., formerly known as Inventure Group, Inc., is engaged in the development, production, marketing, and distribution of natural and indulgent specialty snack food brands. The Company manufactures and sells under a variety of Company owned or licensed brand names, including T.G.I. Friday’s, BURGER KING, Jamba, Rader Farms, Boulder Canyon Natural Foods, Poore Brothers, Tato Skins and Bob’s Texas Style. It operates in three segments: manufactured snack products, berry products and distributed products. The manufactured snack products segment produces potato chips, potato crisps and potato skins. The berry products segment grows, processes, and markets berry blends, raspberries, blueberries, and rhubarb, as well as resells marionberries, cherries, cranberries, strawberries, and other fruits. The distributed products segment sells snack food products manufactured by other companies. The Company is headquartered in Phoenix, Arizona with manufacturing facilities in Arizona, Indiana and Washington. “

Shares of Inventure Foods (SNAK) traded down 0.78% during midday trading on Wednesday, reaching $3.80. The company’s stock had a trading volume of 49,549 shares. Inventure Foods has a 52 week low of $3.31 and a 52 week high of $10.15. The company has a 50 day moving average price of $4.28 and a 200-day moving average price of $5.54. The stock’s market capitalization is $74.81 million.

Inventure Foods (NASDAQ:SNAK) last released its quarterly earnings results on Thursday, May 11th. The company reported ($0.13) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by $0.05. Inventure Foods had a negative net margin of 17.43% and a negative return on equity of 27.58%. The firm had revenue of $49.60 million for the quarter, compared to analysts’ expectations of $70.10 million. During the same period in the previous year, the firm posted ($0.05) EPS. The firm’s quarterly revenue was down 13.3% compared to the same quarter last year. On average, equities research analysts expect that Inventure Foods will post ($0.14) EPS for the current year.

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Institutional investors have recently bought and sold shares of the company. State Street Corp increased its position in Inventure Foods by 4.4% in the fourth quarter. State Street Corp now owns 240,723 shares of the company’s stock valued at $2,375,000 after buying an additional 10,208 shares during the period. New Jersey Better Educational Savings Trust increased its position in Inventure Foods by 3.8% in the first quarter. New Jersey Better Educational Savings Trust now owns 110,000 shares of the company’s stock valued at $486,000 after buying an additional 4,000 shares during the period. State of New Jersey Common Pension Fund D increased its position in Inventure Foods by 29.0% in the first quarter. State of New Jersey Common Pension Fund D now owns 1,600,000 shares of the company’s stock valued at $7,072,000 after buying an additional 360,000 shares during the period. Bourgeon Capital Management LLC acquired a new position in Inventure Foods during the first quarter valued at approximately $133,000. Finally, Thompson Investment Management Inc. increased its position in Inventure Foods by 181.2% in the first quarter. Thompson Investment Management Inc. now owns 145,100 shares of the company’s stock valued at $641,000 after buying an additional 93,500 shares during the period. Institutional investors and hedge funds own 83.12% 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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