Tyson Foods (TSN) Raised to “Buy” at Zacks Investment Research

Tyson Foods (NYSE:TSN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Saturday. The firm currently has a $89.00 target price on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 10.99% from the stock’s previous close.

According to Zacks, “Tyson Foods has surpassed the industry in the past six months owing to strong performance in all business segments, particularly Chicken and Beef. The prepared foods category has also been depicting solid growth, courtesy of rising demand for protein-packed brands and synergies from the AdvancePierre’s buyout. Apart from this, divestment of non-protein businesses and poultry production expansion efforts signify the company’s focus on strengthening protein-packed brands portfolio. Notably, Tyson Foods’ growth drivers fueled results in fourth-quarter fiscal 2017, wherein both top and bottom lines grew year over year and topped estimates. The solid results also encouraged management to issue a favorable view However, the company remains exposed to the risk of raw materials price volatility. Also, stiff competition and intense promotions remain headwinds. Rising wage costs also pose threats to Tyson Foods’ operating results.”

A number of other equities analysts also recently commented on the stock. Piper Jaffray Companies started coverage on shares of Tyson Foods in a report on Thursday, January 4th. They set an “overweight” rating and a $94.00 price target for the company. KeyCorp reissued a “buy” rating and set a $88.00 price target on shares of Tyson Foods in a report on Thursday, December 21st. ValuEngine raised shares of Tyson Foods from a “hold” rating to a “buy” rating in a report on Monday, November 20th. raised shares of Tyson Foods from a “sell” rating to a “hold” rating and set a $75.00 price target for the company in a report on Wednesday, November 15th. Finally, Argus raised shares of Tyson Foods from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a research note on Wednesday, November 15th. Seven investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $75.67.

Tyson Foods (NYSE:TSN) traded up $1.31 during midday trading on Friday, reaching $80.19. 2,432,924 shares of the company’s stock traded hands, compared to its average volume of 1,529,805. The company has a quick ratio of 0.75, a current ratio of 1.55 and a debt-to-equity ratio of 0.88. The firm has a market cap of $29,005.59, a price-to-earnings ratio of 16.74 and a beta of 0.36. Tyson Foods has a 52 week low of $57.20 and a 52 week high of $84.65.

Tyson Foods (NYSE:TSN) last released its quarterly earnings data on Monday, November 13th. The company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.05. The company had revenue of $10.15 billion during the quarter, compared to the consensus estimate of $9.93 billion. Tyson Foods had a net margin of 4.64% and a return on equity of 19.64%. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period last year, the firm earned $0.96 EPS. sell-side analysts forecast that Tyson Foods will post 5.82 earnings per share for the current year.

In related news, General Counsel Bebber David L. Van sold 164,348 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $83.26, for a total transaction of $13,683,614.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Scott Rouse sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $77.26, for a total transaction of $77,260.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 397,342 shares of company stock valued at $32,702,254. 2.65% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Koch Industries Inc. lifted its stake in Tyson Foods by 13,862.2% in the second quarter. Koch Industries Inc. now owns 776,858 shares of the company’s stock valued at $765,000 after buying an additional 771,294 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Tyson Foods by 2,014.3% in the third quarter. Assenagon Asset Management S.A. now owns 319,534 shares of the company’s stock valued at $22,511,000 after buying an additional 304,421 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH lifted its stake in Tyson Foods by 130.5% in the third quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 241,411 shares of the company’s stock valued at $15,849,000 after buying an additional 136,695 shares in the last quarter. TIAA FSB bought a new position in Tyson Foods in the third quarter valued at approximately $3,813,000. Finally, Prudential Financial Inc. lifted its stake in Tyson Foods by 10.0% in the third quarter. Prudential Financial Inc. now owns 3,107,758 shares of the company’s stock valued at $218,942,000 after buying an additional 283,327 shares in the last quarter. 71.33% of the stock is currently owned by hedge funds and other institutional investors.

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About Tyson Foods

Tyson Foods, Inc is a food company, which is engaged in offering chicken, beef and pork, as well as prepared foods. The Company offers food products under Tyson, Jimmy Dean, Hillshire Farm, Sara Lee, Ball Park, Wright, Aidells and State Fair brands. The Company operates through four segments: Chicken, Beef, Pork and Prepared Foods.

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