Berenberg Bank Lowers Bob Evans Farms, Inc. (BOBE) to Hold
Bob Evans Farms, Inc. (NASDAQ:BOBE) was downgraded by equities researchers at Berenberg Bank from a “buy” rating to a “hold” rating in a report issued on Wednesday, Marketbeat.com reports. They presently have a $77.00 price objective on the restaurant operator’s stock, down from their prior price objective of $78.00. Berenberg Bank’s price target points to a potential downside of 0.63% from the stock’s current price.
A number of other research analysts have also recently commented on the company. Maxim Group cut Bob Evans Farms from a “buy” rating to a “hold” rating and set a $77.00 target price on the stock. in a research note on Tuesday. Zacks Investment Research raised Bob Evans Farms from a “hold” rating to a “buy” rating and set a $77.00 price objective on the stock in a research note on Wednesday, September 13th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating and set a $72.00 price objective on shares of Bob Evans Farms in a research note on Friday, September 8th. Sidoti began coverage on Bob Evans Farms in a research note on Wednesday, August 23rd. They set a “neutral” rating and a $76.00 price objective on the stock. Finally, BidaskClub raised Bob Evans Farms from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Bob Evans Farms has a consensus rating of “Hold” and a consensus price target of $76.05.
Shares of Bob Evans Farms (NASDAQ BOBE) traded up 0.10% during trading on Wednesday, hitting $77.49. The stock had a trading volume of 1,640,714 shares. The company has a market cap of $1.55 billion, a PE ratio of 12.58 and a beta of 0.55. The firm’s 50 day moving average is $67.41 and its 200 day moving average is $67.17. Bob Evans Farms has a 1-year low of $36.88 and a 1-year high of $78.18.
Bob Evans Farms (NASDAQ:BOBE) last released its earnings results on Wednesday, August 30th. The restaurant operator reported $0.37 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.37. The business had revenue of $109.30 million for the quarter, compared to analysts’ expectations of $102.29 million. Bob Evans Farms had a return on equity of 19.52% and a net margin of 19.49%. The firm’s revenue was up 27.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.48 earnings per share. Equities research analysts anticipate that Bob Evans Farms will post $2.18 EPS for the current fiscal year.
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In related 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 value of $501,970.00. Following the sale, the senior vice president now directly owns 4,367 shares of the company’s stock, valued at $308,746.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of BOBE. Waratah Capital Advisors Ltd. purchased a new stake in Bob Evans Farms in the first quarter worth about $2,154,000. Aperio Group LLC lifted its holdings in Bob Evans Farms by 7.9% in the second quarter. Aperio Group LLC now owns 5,344 shares of the restaurant operator’s stock worth $384,000 after buying an additional 389 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in Bob Evans Farms by 13.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 187,645 shares of the restaurant operator’s stock worth $12,173,000 after buying an additional 22,049 shares during the period. State Street Corp lifted its holdings in Bob Evans Farms by 1.8% in the first quarter. State Street Corp now owns 531,462 shares of the restaurant operator’s stock worth $34,473,000 after buying an additional 9,181 shares during the period. Finally, Sei Investments Co. purchased a new stake in Bob Evans Farms in the first quarter worth about $818,000. 76.85% of the stock is currently owned by institutional investors.
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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