Bob Evans Farms, Inc. (BOBE) Stock Rating Upgraded by Zacks Investment Research
Bob Evans Farms, Inc. (NASDAQ:BOBE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “BOB EVANS FARMS, INC. is divided into two principal industry segments: the food products segment and the restaurant segment. The company owns and operates restaurants, including Bob Evans Restaurants, Owens Family Restaurants, Bob Evans small-town Restaurants and Cantina Del Rio Mexican restaurants. They also produce fresh and fully-cooked sausage products and fresh, deli-style salads which are distributed primarily to grocery stores in the Midwest, Southwest and Southeast. “
A number of other brokerages have also commented on BOBE. BidaskClub upgraded Bob Evans Farms from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Berenberg Bank assumed coverage on Bob Evans Farms in a research report on Wednesday, July 19th. They issued a “buy” rating and a $77.00 price target on the stock. Maxim Group upped their price target on Bob Evans Farms from $74.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, June 13th. Oppenheimer Holdings, Inc. restated a “market perform” rating and set a $77.00 target price on shares of Bob Evans Farms in a report on Monday, June 5th. Finally, CIBC restated a “market perform” rating and set a $77.00 target price on shares of Bob Evans Farms in a report on Monday, June 5th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Bob Evans Farms currently has a consensus rating of “Hold” and an average target price of $73.90.
Bob Evans Farms (NASDAQ BOBE) traded up 0.22% during mid-day trading on Wednesday, hitting $67.04. 163,257 shares of the stock were exchanged. Bob Evans Farms has a one year low of $36.70 and a one year high of $75.34. The company has a market cap of $1.34 billion, a P/E ratio of 10.66 and a beta of 0.54. The company has a 50-day moving average price of $68.35 and a 200-day moving average price of $65.33.
Bob Evans Farms (NASDAQ:BOBE) last issued its quarterly earnings results on Thursday, June 15th. The restaurant operator reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.19. Bob Evans Farms had a return on equity of 19.58% and a net margin of 15.15%. The company had revenue of $99.90 million during the quarter, compared to analyst estimates of $325.70 million. During the same period in the previous year, the company earned $0.48 earnings per share. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. On average, analysts predict that Bob Evans Farms will post $2.19 earnings per share for the current fiscal year.
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In other news, SVP Thomas Alan Ashworth sold 7,100 shares of the firm’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $70.70, for a total transaction of $501,970.00. Following the sale, the senior vice president now owns 4,367 shares of the company’s stock, valued at $308,746.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.20% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in Bob Evans Farms by 7,979.3% in the first quarter. BlackRock Inc. now owns 2,951,515 shares of the restaurant operator’s stock worth $191,465,000 after buying an additional 2,914,983 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Bob Evans Farms by 0.6% in the second quarter. Vanguard Group Inc. now owns 2,721,591 shares of the restaurant operator’s stock valued at $195,492,000 after buying an additional 16,931 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Bob Evans Farms by 65.4% in the second quarter. Victory Capital Management Inc. now owns 835,743 shares of the restaurant operator’s stock valued at $60,031,000 after buying an additional 330,336 shares in the last quarter. Northern Trust Corp increased its position in shares of Bob Evans Farms by 1.9% in the second quarter. Northern Trust Corp now owns 745,225 shares of the restaurant operator’s stock valued at $53,530,000 after buying an additional 13,564 shares in the last quarter. Finally, State Street Corp increased its position in shares of Bob Evans Farms by 2.0% in the second quarter. State Street Corp now owns 541,902 shares of the restaurant operator’s stock valued at $38,923,000 after buying an additional 10,440 shares in the last quarter. Institutional investors and hedge funds own 81.68% of the company’s stock.
Bob Evans Farms Company Profile
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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