Inventure Foods, Inc. (SNAK) Raised to Sell at ValuEngine
Inventure Foods, Inc. (NASDAQ:SNAK) was upgraded by equities research analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research note issued to investors on Tuesday.
Separately, Zacks Investment Research raised Inventure Foods from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th.
Inventure Foods (NASDAQ:SNAK) traded up 1.04% during trading on Tuesday, reaching $3.88. 65,569 shares of the company’s stock traded hands. Inventure Foods has a 52-week low of $3.31 and a 52-week high of $10.15. The stock’s market cap is $76.39 million. The company’s 50 day moving average is $4.12 and its 200-day moving average is $4.81.
Inventure Foods (NASDAQ:SNAK) last issued its quarterly earnings results on Thursday, May 11th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $49.60 million for the quarter, compared to the consensus estimate of $70.10 million. During the same quarter in the previous year, the business earned ($0.05) earnings per share. The firm’s revenue was down 13.3% on a year-over-year basis. On average, analysts anticipate that Inventure Foods will post ($0.14) earnings per share for the current fiscal year.
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A number of institutional investors have recently made changes to their positions in SNAK. State of New Jersey Common Pension Fund D increased its stake 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. Gabelli Funds LLC increased its stake in shares of Inventure Foods by 30.7% in the first quarter. Gabelli Funds LLC now owns 1,270,258 shares of the company’s stock worth $5,615,000 after buying an additional 298,179 shares during the last quarter. Royce & Associates LP increased its stake in shares of Inventure Foods by 19.3% in the first quarter. Royce & Associates LP now owns 928,471 shares of the company’s stock worth $4,104,000 after buying an additional 150,000 shares during the last quarter. First Wilshire Securities Management Inc. increased its stake in shares of Inventure Foods by 4.2% in the first quarter. First Wilshire Securities Management Inc. now owns 566,891 shares of the company’s stock worth $2,506,000 after buying an additional 22,613 shares during the last quarter. Finally, Teton Advisors Inc. increased its stake in shares of Inventure Foods by 23.5% in the first quarter. Teton Advisors Inc. now owns 435,172 shares of the company’s stock worth $1,923,000 after buying an additional 82,841 shares during the last quarter. 83.23% of the stock is owned by institutional investors and hedge funds.
Inventure Foods Company Profile
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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