NutriSystem Inc (NTRI) Lifted to “Buy” at Zacks Investment Research
NutriSystem Inc (NASDAQ:NTRI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday. The brokerage presently has a $58.00 price target on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 7.71% from the company’s current price.
According to Zacks, “NutriSystem is a leading provider of weight management products and services. They offer an at-home weight loss program based on portion-controlled, lower Glycemic Index prepared meals, weight loss plans, and private telephone and online support. “
Several other research analysts have also recently commented on NTRI. Craig Hallum set a $70.00 price target on NutriSystem and gave the stock a “buy” rating in a research note on Tuesday, July 18th. BidaskClub upgraded NutriSystem from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 19th. DA Davidson reiterated a “buy” rating and issued a $64.00 price target on shares of NutriSystem in a research note on Monday, July 24th. Lake Street Capital set a $73.00 price target on NutriSystem and gave the stock a “buy” rating in a research note on Thursday, July 27th. Finally, B. Riley reiterated a “buy” rating and issued a $74.00 price target on shares of NutriSystem in a research note on Friday, July 28th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. NutriSystem currently has an average rating of “Buy” and an average target price of $67.44.
NutriSystem (NASDAQ:NTRI) traded up 3.21% on Friday, hitting $53.85. The stock had a trading volume of 1,042,873 shares. NutriSystem has a 12-month low of $30.11 and a 12-month high of $67.95. The company’s 50 day moving average is $55.33 and its 200 day moving average is $53.57. The firm has a market cap of $1.60 billion, a PE ratio of 33.36 and a beta of 1.15.
NutriSystem (NASDAQ:NTRI) last released its quarterly earnings results on Wednesday, October 25th. The company reported $0.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.03. NutriSystem had a return on equity of 49.69% and a net margin of 8.27%. The business had revenue of $158.10 million for the quarter, compared to analysts’ expectations of $155.21 million. During the same quarter in the previous year, the firm posted $0.27 earnings per share. The company’s revenue was up 26.9% compared to the same quarter last year. On average, equities research analysts expect that NutriSystem will post $1.91 EPS for the current fiscal year.
NutriSystem announced that its Board of Directors has initiated a stock buyback plan on Wednesday, October 25th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
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In other NutriSystem news, insider Dawn M. Zier sold 29,100 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $54.00, for a total transaction of $1,571,400.00. Following the sale, the insider now owns 273,867 shares in the company, valued at $14,788,818. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jay Herratti sold 3,799 shares of the company’s stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $60.00, for a total value of $227,940.00. The disclosure for this sale can be found here. Insiders have sold 91,355 shares of company stock worth $4,903,650 in the last 90 days. 2.40% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. FNY Partners Fund LP acquired a new stake in NutriSystem during the first quarter valued at approximately $111,000. Meeder Asset Management Inc. acquired a new stake in NutriSystem during the second quarter valued at approximately $106,000. Riverhead Capital Management LLC raised its stake in NutriSystem by 62.1% during the second quarter. Riverhead Capital Management LLC now owns 2,431 shares of the company’s stock valued at $126,000 after buying an additional 931 shares in the last quarter. Ameritas Investment Partners Inc. raised its stake in NutriSystem by 10.9% during the second quarter. Ameritas Investment Partners Inc. now owns 2,608 shares of the company’s stock valued at $136,000 after buying an additional 257 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in NutriSystem by 17.7% during the second quarter. Victory Capital Management Inc. now owns 2,646 shares of the company’s stock valued at $138,000 after buying an additional 397 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.
NutriSystem Company Profile
Nutrisystem, Inc is a provider of weight management products and services, including nutritionally balanced weight loss programs, multi-day kits available at retail locations and digital tools to support weight loss. The Company’s program customers purchase monthly food packages containing four-week meal plan consisting supply of breakfasts, lunches, dinners and snacks and flex meal plan recipes, which they supplement with fresh fruits, vegetables and dairy.
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