Berenberg Bank Begins Coverage on Bob Evans Farms, Inc. (NASDAQ:BOBE)
Analysts at Berenberg Bank assumed coverage on shares of Bob Evans Farms, Inc. (NASDAQ:BOBE) in a research note issued on Wednesday. The brokerage set a “buy” rating and a $77.00 price target on the restaurant operator’s stock. Berenberg Bank’s price objective would suggest a potential upside of 16.19% from the stock’s current price.
Several other equities analysts have also recently commented on the stock. Zacks Investment Research cut shares of Bob Evans Farms from a “buy” rating to a “hold” rating in a report on Tuesday, May 2nd. Maxim Group boosted their target price on shares of Bob Evans Farms from $65.00 to $74.00 and gave the stock a “buy” rating in a research report on Tuesday, May 2nd. William Blair began coverage on shares of Bob Evans Farms in a research report on Wednesday, May 3rd. They set an “outperform” rating and a $67.41 target price for the company. CIBC reissued a “market perform” rating and set a $77.00 target price on shares of Bob Evans Farms in a research report on Monday, June 5th. Finally, Oppenheimer Holdings, Inc. restated a “market perform” rating and set a $77.00 price objective on shares of Bob Evans Farms in a report on Monday, June 5th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Bob Evans Farms currently has an average rating of “Hold” and a consensus target price of $73.90.
Bob Evans Farms (NASDAQ BOBE) opened at 66.27 on Wednesday. The company’s 50-day moving average price is $70.33 and its 200 day moving average price is $63.04. The firm has a market capitalization of $1.32 billion, a PE ratio of 10.54 and a beta of 0.55. Bob Evans Farms has a 1-year low of $35.76 and a 1-year high of $75.34.
Bob Evans Farms (NASDAQ:BOBE) last issued its earnings results on Thursday, June 15th. The restaurant operator reported $0.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.19. The firm had revenue of $99.90 million for the quarter, compared to analysts’ expectations of $325.70 million. Bob Evans Farms had a net margin of 15.15% and a return on equity of 19.58%. Bob Evans Farms’s revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the company posted $0.48 earnings per share. On average, equities analysts anticipate that Bob Evans Farms will post $2.23 EPS for the current year.
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In related news, SVP Thomas Alan Ashworth sold 7,100 shares of the business’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $70.70, for a total transaction of $501,970.00. Following the transaction, the senior vice president now owns 4,367 shares in the company, valued at approximately $308,746.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.20% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in BOBE. State Board of Administration of Florida Retirement System boosted its position in shares of Bob Evans Farms by 26.1% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 13,076 shares of the restaurant operator’s stock valued at $696,000 after buying an additional 2,704 shares in the last quarter. Comerica Bank raised its stake in shares of Bob Evans Farms by 6.3% in the fourth quarter. Comerica Bank now owns 18,984 shares of the restaurant operator’s stock worth $921,000 after buying an additional 1,127 shares during the last quarter. State Street Corp raised its stake in shares of Bob Evans Farms by 12.0% in the fourth quarter. State Street Corp now owns 522,281 shares of the restaurant operator’s stock worth $27,786,000 after buying an additional 56,056 shares during the last quarter. Guggenheim Capital LLC acquired a new stake in shares of Bob Evans Farms during the fourth quarter worth approximately $1,839,000. Finally, Thrivent Financial for Lutherans raised its stake in shares of Bob Evans Farms by 6.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 10,730 shares of the restaurant operator’s stock worth $571,000 after buying an additional 620 shares during the last quarter. 78.36% of the stock is currently owned by institutional investors and hedge funds.
About Bob Evans Farms
Bob Evans Farms, Inc (Bob Evans) is a producer and distributor of refrigerated potato, pasta and vegetable-based side dishes, pork sausage, and a variety of refrigerated and frozen food items under the Bob Evans and Owens or Country Creek brand names. The Company’s food products are distributed to customers throughout the United States.
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