BMO Capital Markets Reaffirms Buy Rating for Treehouse Foods, Inc. (THS)
Treehouse Foods, Inc. (NYSE:THS)‘s stock had its “buy” rating restated by equities research analysts at BMO Capital Markets in a research note issued to investors on Thursday. They currently have a $85.00 target price on the stock. BMO Capital Markets’ price objective suggests a potential upside of 101.61% from the stock’s previous close.
Several other equities research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Treehouse Foods from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Susquehanna Bancshares Inc reaffirmed a “hold” rating and set a $75.00 price target on shares of Treehouse Foods in a research note on Monday, October 9th. UBS AG initiated coverage on shares of Treehouse Foods in a research note on Wednesday, October 18th. They set a “neutral” rating and a $70.00 price target on the stock. BidaskClub cut shares of Treehouse Foods from a “hold” rating to a “sell” rating in a research note on Thursday, August 24th. Finally, Barclays PLC decreased their price target on shares of Treehouse Foods from $90.00 to $84.00 and set an “overweight” rating on the stock in a research note on Friday, August 4th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company’s stock. Treehouse Foods presently has an average rating of “Hold” and a consensus target price of $65.55.
Treehouse Foods (NYSE THS) traded down $24.20 during trading hours on Thursday, reaching $42.16. 3,913,396 shares of the company’s stock traded hands, compared to its average volume of 1,232,974. Treehouse Foods has a 52-week low of $62.64 and a 52-week high of $90.42. The stock has a market capitalization of $2,461.97, a P/E ratio of 14.69 and a beta of 0.63.
Treehouse Foods (NYSE:THS) last posted its earnings results on Thursday, November 2nd. The company reported $0.67 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.78 by ($0.11). Treehouse Foods had a negative net margin of 4.06% and a positive return on equity of 6.65%. The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter last year, the business posted $0.70 earnings per share. The business’s revenue was down 2.4% compared to the same quarter last year. analysts expect that Treehouse Foods will post 3.15 earnings per share for the current fiscal year.
Treehouse Foods announced that its board has initiated a stock buyback program on Thursday, November 2nd that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its shares are undervalued.
In related news, CEO Sam K. Reed sold 11,480 shares of the firm’s stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $67.58, for a total value of $775,818.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.50% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its position in Treehouse Foods by 0.4% during the second quarter. BlackRock Inc. now owns 4,668,862 shares of the company’s stock valued at $381,400,000 after buying an additional 16,592 shares in the last quarter. Wells Fargo & Company MN lifted its position in Treehouse Foods by 13.5% during the second quarter. Wells Fargo & Company MN now owns 4,576,600 shares of the company’s stock valued at $373,861,000 after buying an additional 543,475 shares in the last quarter. Vanguard Group Inc. lifted its position in Treehouse Foods by 1.2% during the second quarter. Vanguard Group Inc. now owns 4,574,766 shares of the company’s stock valued at $373,713,000 after buying an additional 56,356 shares in the last quarter. FMR LLC lifted its position in Treehouse Foods by 2.3% during the second quarter. FMR LLC now owns 3,866,371 shares of the company’s stock valued at $315,843,000 after buying an additional 87,098 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Treehouse Foods by 4.6% during the second quarter. JPMorgan Chase & Co. now owns 3,691,824 shares of the company’s stock valued at $301,585,000 after buying an additional 161,421 shares in the last quarter.
Treehouse Foods Company Profile
TreeHouse Foods, Inc is a consumer packaged food and beverage manufacturer. The Company’s segments include North American Retail Grocery, Food Away From Home, and Industrial and Export. The Company manufactures a range of shelf stable, refrigerated, fresh and frozen products. Its product categories include beverages, salad dressings, snack nuts, beverage enhancers, pickles, sauces, cereals, pasta and dry dinners, cookies and crackers, retail bakery, aseptic products, jams and other products.
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