Bob Evans Farms, Inc. (NASDAQ:BOBE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

According to Zacks, “BOB EVANS FARMS, INC. is divided into two principal industry segments: the food products segment and the restaurant segment. The company owns and operates restaurants, including Bob Evans Restaurants, Owens Family Restaurants, Bob Evans small-town Restaurants and Cantina Del Rio Mexican restaurants. They also produce fresh and fully-cooked sausage products and fresh, deli-style salads which are distributed primarily to grocery stores in the Midwest, Southwest and Southeast. “

A number of other research firms have also commented on BOBE. CJS Securities assumed coverage on Bob Evans Farms in a research report on Wednesday, September 20th. They set an “outperform” rating and a $85.00 price target on the stock. Berenberg Bank lowered Bob Evans Farms from a “buy” rating to a “hold” rating and dropped their price target for the stock from $78.00 to $77.00 in a research report on Wednesday, September 20th. William Blair lowered Bob Evans Farms from an “outperform” rating to a “market perform” rating in a research report on Friday, September 22nd. Maxim Group lowered Bob Evans Farms from a “buy” rating to a “hold” rating and set a $77.00 price target on the stock. in a research report on Tuesday, September 19th. Finally, BidaskClub lowered Bob Evans Farms from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 12th. Nine equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $76.05.

Bob Evans Farms (NASDAQ BOBE) traded up $0.11 during trading hours on Wednesday, reaching $77.35. The company’s stock had a trading volume of 239,100 shares, compared to its average volume of 376,312. Bob Evans Farms has a 1 year low of $40.59 and a 1 year high of $78.18. The company has a quick ratio of 0.83, a current ratio of 1.11 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $1,542.86, a price-to-earnings ratio of 33.73 and a beta of 0.55.

Bob Evans Farms (NASDAQ:BOBE) last released its earnings results on Wednesday, August 30th. The restaurant operator reported $0.37 earnings per share for the quarter, meeting the consensus estimate of $0.37. The firm had revenue of $109.30 million for the quarter, compared to analyst estimates of $102.29 million. Bob Evans Farms had a return on equity of 19.52% and a net margin of 19.49%. The company’s quarterly revenue was up 27.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.48 earnings per share. sell-side analysts expect that Bob Evans Farms will post 2.21 EPS for the current year.

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Institutional investors have recently made changes to their positions in the stock. Flinton Capital Management LLC raised its position in Bob Evans Farms by 60.0% in the 2nd quarter. Flinton Capital Management LLC now owns 1,408 shares of the restaurant operator’s stock valued at $101,000 after buying an additional 528 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Bob Evans Farms in the 2nd quarter valued at approximately $101,000. PNC Financial Services Group Inc. raised its position in Bob Evans Farms by 4.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,680 shares of the restaurant operator’s stock valued at $109,000 after buying an additional 68 shares during the last quarter. Ameritas Investment Partners Inc. raised its position in Bob Evans Farms by 7.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,740 shares of the restaurant operator’s stock valued at $125,000 after buying an additional 115 shares during the last quarter. Finally, Creative Planning raised its position in Bob Evans Farms by 65.4% in the 2nd quarter. Creative Planning now owns 1,925 shares of the restaurant operator’s stock valued at $138,000 after buying an additional 761 shares during the last quarter. 74.40% of the stock is currently owned by institutional investors and hedge funds.

About Bob Evans Farms

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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Analyst Recommendations for Bob Evans Farms (NASDAQ:BOBE)

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