Tyson Foods (TSN) Upgraded to “Buy” by Zacks Investment Research

Tyson Foods (NYSE:TSN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday. The firm presently has a $83.00 target price on the stock. Zacks Investment Research‘s price target suggests a potential upside of 10.08% from the stock’s current price.

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 in particular, courtesy of rising demand for protein-packed brands and synergies from the AdvancePierre’ buyout. Notably, solid volumes across most units and savings from Financial Fitness program fueled Tyson Foods’ results in first-quarter fiscal 2018, wherein both the top and bottom line rose year over year and topped estimates. The solid results, focus on tapping rising demand for protein and expected gains from tax savings also led to a heartening outlook for fiscal 2018. However, the company continues to incur higher wage and freight costs due to tightening market conditions. These hurdles are expected to linger and increase cost burden in fiscal 2018. Also, raw materials price volatility remains a threat.”

Other analysts have also issued reports about the stock. Piper Jaffray Companies set a $92.00 price target on shares of Tyson Foods and gave the company a “buy” rating in a research report on Friday. Mizuho set a $92.00 price target on shares of Tyson Foods and gave the company a “buy” rating in a research report on Friday. Jefferies Group reissued a “buy” rating on shares of Tyson Foods in a research report on Thursday. Argus raised shares of Tyson Foods from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a research report on Wednesday, November 15th. Finally, KeyCorp reissued a “buy” rating and set a $88.00 price target on shares of Tyson Foods in a research report on Thursday, December 21st. Seven 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 company. The company presently has an average rating of “Buy” and an average target price of $76.31.

Tyson Foods (NYSE:TSN) traded up $0.53 during mid-day trading on Monday, hitting $75.40. 105,561 shares of the company’s stock traded hands, compared to its average volume of 2,221,300. The stock has a market capitalization of $27,590.00, a price-to-earnings ratio of 9.81 and a beta of 0.17. Tyson Foods has a 1-year low of $57.20 and a 1-year high of $84.65. The company has a current ratio of 1.51, a quick ratio of 0.70 and a debt-to-equity ratio of 0.74.

Tyson Foods (NYSE:TSN) last released its quarterly earnings results on Thursday, February 8th. The company reported $1.81 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.30. The business had revenue of $10.23 billion during the quarter, compared to analyst estimates of $9.88 billion. Tyson Foods had a net margin of 7.15% and a return on equity of 19.25%. The company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.59 earnings per share. sell-side analysts expect that Tyson Foods will post 6.65 EPS for the current year.

In related news, CFO Dennis Leatherby sold 115,293 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $82.09, for a total value of $9,464,402.37. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Scott Rouse sold 1,000 shares of the stock in a transaction that occurred on Thursday, November 16th. The stock was 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 sold 397,342 shares of company stock worth $32,702,254. 1.55% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of TSN. BlackRock Inc. increased its holdings in Tyson Foods by 10.6% in the 4th quarter. BlackRock Inc. now owns 22,658,190 shares of the company’s stock worth $1,836,900,000 after buying an additional 2,168,652 shares during the period. Wells Fargo & Company MN boosted its position in Tyson Foods by 98.3% in the 4th quarter. Wells Fargo & Company MN now owns 4,106,832 shares of the company’s stock worth $332,940,000 after purchasing an additional 2,035,714 shares in the last quarter. Iridian Asset Management LLC CT boosted its position in Tyson Foods by 64.4% in the 3rd quarter. Iridian Asset Management LLC CT now owns 4,833,048 shares of the company’s stock worth $340,488,000 after purchasing an additional 1,893,438 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Tyson Foods by 12.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 8,823,121 shares of the company’s stock worth $621,587,000 after purchasing an additional 980,069 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in Tyson Foods by 39.8% in the 3rd quarter. Van ECK Associates Corp now owns 1,810,796 shares of the company’s stock worth $127,571,000 after purchasing an additional 515,680 shares in the last quarter. Institutional investors own 70.80% of the company’s stock.

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Tyson Foods Company Profile

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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