Bob Evans Farms, Inc. (BOBE) Cut to “Hold” at Zacks Investment Research
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.
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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