Treehouse Foods, Inc. (THS) Given New $62.00 Price Target at Citigroup Inc.
Treehouse Foods, Inc. (NYSE:THS) had its price target cut by equities research analysts at Citigroup Inc. from $90.00 to $62.00 in a research note issued to investors on Friday. The brokerage currently has a “buy” rating on the stock. Citigroup Inc.’s price objective points to a potential upside of 47.06% from the company’s current price.
A number of other research analysts have also issued reports on THS. UBS AG reduced their price target on Treehouse Foods from $70.00 to $46.00 and set a “neutral” rating for the company in a research report on Friday. Susquehanna Bancshares Inc set a $74.00 price target on Treehouse Foods and gave the stock a “hold” rating in a research report on Monday. Credit Suisse Group set a $68.00 price target on Treehouse Foods and gave the stock a “neutral” rating in a research report on Tuesday. J P Morgan Chase & Co lowered Treehouse Foods from a “neutral” rating to an “underweight” rating and set a $38.00 price target for the company. in a research report on Friday. Finally, Vertical Group lowered Treehouse Foods from a “buy” rating to a “hold” rating and reduced their price target for the stock from $100.61 to $62.64 in a research report on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned 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 (THS) traded down $24.20 during trading hours on Friday, reaching $42.16. The company had a trading volume of 3,913,396 shares, compared to its average volume of 1,232,974. Treehouse Foods has a twelve month low of $62.64 and a twelve month high of $90.42. The firm has a market cap of $2,461.97, a price-to-earnings ratio of 14.69 and a beta of 0.63.
Treehouse Foods (NYSE:THS) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $0.67 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.78 by ($0.11). Treehouse Foods had a positive return on equity of 6.65% and a negative net margin of 4.06%. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter last year, the firm posted $0.70 EPS. The company’s revenue was down 2.4% compared to the same quarter last year. equities analysts anticipate that Treehouse Foods will post 3.15 earnings per share for the current year.
Treehouse Foods announced that its board has approved a share buyback program on Thursday, November 2nd that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.
In other news, CEO Sam K. Reed sold 11,480 shares of the business’s stock in a transaction on Monday, October 9th. The stock was sold at an average price of $67.58, for a total value of $775,818.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 3.50% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in THS. BlackRock Inc. raised its position in shares of Treehouse Foods by 9,591.4% during the first quarter. BlackRock Inc. now owns 4,652,270 shares of the company’s stock worth $393,860,000 after purchasing an additional 4,604,266 shares during the period. Victory Capital Management Inc. raised its position in shares of Treehouse Foods by 616.9% during the third quarter. Victory Capital Management Inc. now owns 3,273,871 shares of the company’s stock worth $221,740,000 after purchasing an additional 2,817,230 shares during the period. Wells Fargo & Company MN raised its position in shares of Treehouse Foods by 101.1% during the third quarter. Wells Fargo & Company MN now owns 4,172,507 shares of the company’s stock worth $363,800,000 after purchasing an additional 2,097,880 shares during the period. Iridian Asset Management LLC CT raised its position in shares of Treehouse Foods by 12,604.6% during the second quarter. Iridian Asset Management LLC CT now owns 1,798,976 shares of the company’s stock worth $146,958,000 after purchasing an additional 1,784,816 shares during the period. Finally, Wedgewood Partners Inc. acquired a new stake in shares of Treehouse Foods during the third quarter worth $151,701,000.
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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