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.

Analyst Recommendations for Bob Evans Farms (NASDAQ:BOBE)

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