Bob Evans Farms, Inc. (NASDAQ:BOBE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.

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. “

BOBE has been the topic of several other research reports. Sidoti started coverage on shares of Bob Evans Farms in a research note on Wednesday, August 23rd. They issued a “neutral” rating and a $76.00 price target on the stock. Maxim Group boosted their price target on shares of Bob Evans Farms from $74.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, June 13th. Oppenheimer Holdings, Inc. reiterated a “market perform” rating and issued a $77.00 price target on shares of Bob Evans Farms in a research note on Monday, June 5th. BidaskClub cut shares of Bob Evans Farms from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, CIBC reiterated a “market perform” rating and issued a $77.00 price target on shares of Bob Evans Farms in a research note on Monday, June 5th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $75.49.

Bob Evans Farms (NASDAQ:BOBE) traded down 0.85% on Thursday, hitting $66.18. 428,097 shares of the stock traded hands. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 10.53 and a beta of 0.55. Bob Evans Farms has a 52-week low of $36.88 and a 52-week high of $75.34. The company’s 50 day moving average price is $66.95 and its 200-day moving average price is $66.31.

Bob Evans Farms (NASDAQ:BOBE) last released its earnings results on Wednesday, August 30th. The restaurant operator reported $0.37 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.37. Bob Evans Farms had a net margin of 19.49% and a return on equity of 19.52%. The company had revenue of $109.30 million for the quarter, compared to analysts’ expectations of $102.29 million. During the same quarter in the previous year, the company earned $0.48 EPS. Bob Evans Farms’s revenue for the quarter was up 27.2% on a year-over-year basis. On average, analysts forecast 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 business’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $70.70, for a total value of $501,970.00. Following the sale, the senior vice president now directly owns 4,367 shares in the company, valued at approximately $308,746.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.20% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of Bob Evans Farms by 7,979.3% in the 1st 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 during the last quarter. Vanguard Group Inc. increased its holdings in shares of Bob Evans Farms by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 2,721,591 shares of the restaurant operator’s stock worth $195,492,000 after buying an additional 16,931 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Bob Evans Farms by 65.4% in the 2nd quarter. Victory Capital Management Inc. now owns 835,743 shares of the restaurant operator’s stock worth $60,031,000 after buying an additional 330,336 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Bob Evans Farms by 1.9% in the 2nd quarter. Northern Trust Corp now owns 745,225 shares of the restaurant operator’s stock worth $53,530,000 after buying an additional 13,564 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Bob Evans Farms by 2.0% in the 2nd quarter. State Street Corp now owns 541,902 shares of the restaurant operator’s stock worth $38,923,000 after buying an additional 10,440 shares during the last quarter. Hedge funds and other institutional investors own 77.67% of the company’s stock.

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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Analyst Recommendations for Bob Evans Farms (NASDAQ:BOBE)

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