Flowers Foods, Inc. (FLO) Stock Rating Upgraded by Zacks Investment Research
Flowers Foods, Inc. (NYSE:FLO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “Flowers Foods, Inc. is one of the largest producers and marketers of a full line of frozen and non-frozen bakery and dessert products in the United States. Flowers Foods consists of Flowers Bakeries and Mrs. Smith’s Bakeries. “
Other research analysts have also recently issued research reports about the stock. BidaskClub upgraded shares of Flowers Foods from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. TheStreet upgraded shares of Flowers Foods from a “c+” rating to a “b-” rating in a research report on Thursday, May 18th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $23.00 price objective on shares of Flowers Foods in a research report on Friday, May 26th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $20.14.
Shares of Flowers Foods (NYSE FLO) traded down 0.74% during midday trading on Tuesday, reaching $17.49. 1,017,089 shares of the company’s stock traded hands. Flowers Foods has a one year low of $14.35 and a one year high of $21.00. The company has a market capitalization of $3.66 billion, a price-to-earnings ratio of 22.17 and a beta of 0.97. The company has a 50-day moving average of $18.37 and a 200-day moving average of $19.25.
Flowers Foods (NYSE:FLO) last posted its quarterly earnings data on Wednesday, May 17th. The company reported $0.25 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.25. Flowers Foods had a net margin of 4.22% and a return on equity of 15.39%. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the previous year, the business posted $0.28 earnings per share. The business’s revenue was down 1.4% compared to the same quarter last year. Equities research analysts anticipate that Flowers Foods will post $0.87 EPS for the current year.
ILLEGAL ACTIVITY WARNING: This piece was originally published by American Banking News and is the property of of American Banking News. If you are viewing this piece on another publication, it was illegally copied and republished in violation of international copyright law. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2017/07/18/flowers-foods-inc-flo-stock-rating-upgraded-by-zacks-investment-research.html.
Several hedge funds have recently modified their holdings of FLO. TNB Financial bought a new stake in shares of Flowers Foods during the first quarter worth about $20,125,000. Oxbow Advisors LLC raised its stake in shares of Flowers Foods by 1.6% in the first quarter. Oxbow Advisors LLC now owns 23,440 shares of the company’s stock worth $455,000 after buying an additional 365 shares in the last quarter. Norges Bank bought a new stake in shares of Flowers Foods during the fourth quarter worth about $25,343,000. Prudential Financial Inc. raised its stake in shares of Flowers Foods by 186.5% in the first quarter. Prudential Financial Inc. now owns 302,816 shares of the company’s stock worth $5,878,000 after buying an additional 197,120 shares in the last quarter. Finally, Americafirst Capital Management LLC bought a new stake in shares of Flowers Foods during the first quarter worth about $1,683,000. 66.52% of the stock is owned by hedge funds and other institutional investors.
About Flowers Foods
Flowers Foods, Inc is a producer and marketer of packaged bakery products. The Company operates in two segments: direct-store-delivery segment (DSD Segment) and warehouse delivery segment (Warehouse Segment). The DSD segment produces fresh breads, buns, rolls, tortillas and snack cakes sold primarily by a network of independent distributors to retail and foodservice customers in the areas of the United States: East, South, Southwest, California, and select markets in the Midwest, Pacific Northwest, Nevada, and Colorado.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Flowers Foods Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flowers Foods Inc. and related companies with MarketBeat.com's FREE daily email newsletter.