Bob Evans Farms Inc (BOBE) Sees Large Increase in Short Interest

Bob Evans Farms Inc (NASDAQ:BOBE) was the target of a significant growth in short interest during the month of January. As of January 12th, there was short interest totalling 2,436,650 shares, a growth of 95.8% from the December 29th total of 1,244,377 shares. Approximately 12.2% of the company’s shares are sold short. Based on an average trading volume of 643,068 shares, the short-interest ratio is currently 3.8 days.

Several equities research analysts recently issued reports on BOBE shares. Zacks Investment Research cut shares of Bob Evans Farms from a “buy” rating to a “hold” rating in a research report on Wednesday, November 8th. BidaskClub cut shares of Bob Evans Farms from a “sell” rating to a “strong sell” rating in a research report on Friday, December 22nd. ValuEngine cut shares of Bob Evans Farms from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Maxim Group reissued a “hold” rating on shares of Bob Evans Farms in a research report on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $76.05.

Shares of Bob Evans Farms (BOBE) opened at $77.01 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.63 and a quick ratio of 1.13. Bob Evans Farms has a 12-month low of $47.28 and a 12-month high of $79.70. The stock has a market cap of $1,540.00, a P/E ratio of 11.31 and a beta of 0.54.

Bob Evans Farms (NASDAQ:BOBE) last released its earnings results on Wednesday, December 6th. The restaurant operator reported $0.35 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.35. Bob Evans Farms had a net margin of 28.75% and a return on equity of 18.55%. The business had revenue of $117.63 million for the quarter, compared to analysts’ expectations of $117.10 million. During the same period last year, the company earned $0.56 earnings per share.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio raised its holdings in Bob Evans Farms by 0.8% in the second quarter. Public Employees Retirement System of Ohio now owns 3,610 shares of the restaurant operator’s stock valued at $259,000 after buying an additional 29 shares during the period. Ameritas Investment Partners Inc. raised its holdings in Bob Evans Farms by 7.1% in the second 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 period. Flinton Capital Management LLC raised its holdings in Bob Evans Farms by 60.0% in the second 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 period. Voya Investment Management LLC raised its holdings in Bob Evans Farms by 6.2% in the second quarter. Voya Investment Management LLC now owns 9,829 shares of the restaurant operator’s stock valued at $706,000 after buying an additional 572 shares during the period. Finally, Thrivent Financial For Lutherans raised its holdings in Bob Evans Farms by 7.7% in the second quarter. Thrivent Financial For Lutherans now owns 11,990 shares of the restaurant operator’s stock valued at $861,000 after buying an additional 860 shares during the period. Hedge funds and other institutional investors own 77.87% of the company’s stock.

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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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