Inventure Foods Inc. (SNAK) Upgraded to “Hold” at Zacks Investment Research
According to Zacks, “Inventure Foods, Inc., formerly known as Inventure Group, Inc., is engaged in the development, production, marketing, and distribution of natural and indulgent specialty snack food brands. The Company manufactures and sells under a variety of Company owned or licensed brand names, including T.G.I. Friday’s, BURGER KING, Jamba, Rader Farms, Boulder Canyon Natural Foods, Poore Brothers, Tato Skins and Bob’s Texas Style. It operates in three segments: manufactured snack products, berry products and distributed products. The manufactured snack products segment produces potato chips, potato crisps and potato skins. The berry products segment grows, processes, and markets berry blends, raspberries, blueberries, and rhubarb, as well as resells marionberries, cherries, cranberries, strawberries, and other fruits. The distributed products segment sells snack food products manufactured by other companies. The Company is headquartered in Phoenix, Arizona with manufacturing facilities in Arizona, Indiana and Washington. “
Separately, DA Davidson increased their price target on shares of Inventure Foods from $10.00 to $11.00 and gave the company a buy rating in a research note on Friday, September 16th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $9.60.
Inventure Foods (NASDAQ:SNAK) traded down 0.11% during trading on Tuesday, hitting $9.50. 16,342 shares of the stock traded hands. Inventure Foods has a one year low of $4.91 and a one year high of $9.82. The company’s 50 day moving average is $9.54 and its 200 day moving average is $7.93. The company’s market capitalization is $186.87 million.
Inventure Foods (NASDAQ:SNAK) last released its quarterly earnings results on Wednesday, July 27th. The company reported ($0.01) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by $0.02. Inventure Foods had a negative net margin of 1.98% and a negative return on equity of 7.31%. The company had revenue of $69.30 million for the quarter, compared to the consensus estimate of $66.40 million. During the same period last year, the company earned ($0.02) earnings per share. Inventure Foods’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, equities analysts forecast that Inventure Foods will post $0.04 EPS for the current fiscal year.
A number of large investors have recently bought and sold shares of the company. Emerald Acquisition Ltd. bought a new stake in shares of Inventure Foods during the second quarter worth approximately $4,300,000. Royce & Associates LP raised its stake in shares of Inventure Foods by 74.3% in the second quarter. Royce & Associates LP now owns 807,072 shares of the company’s stock worth $6,303,000 after buying an additional 344,010 shares during the last quarter. Gabelli Funds LLC raised its stake in shares of Inventure Foods by 25.8% in the second quarter. Gabelli Funds LLC now owns 905,539 shares of the company’s stock worth $7,072,000 after buying an additional 185,539 shares during the last quarter. Perkins Capital Management Inc. raised its stake in shares of Inventure Foods by 205.0% in the second quarter. Perkins Capital Management Inc. now owns 199,750 shares of the company’s stock worth $1,560,000 after buying an additional 134,250 shares during the last quarter. Finally, ICM Asset Management Inc. WA raised its stake in shares of Inventure Foods by 27.3% in the second quarter. ICM Asset Management Inc. WA now owns 322,200 shares of the company’s stock worth $2,516,000 after buying an additional 69,010 shares during the last quarter. Institutional investors own 94.52% of the company’s stock.
About Inventure Foods
Inventure Foods, Inc is a marketer and manufacturer of healthy/natural and indulgent specialty snack food brands. The Company operates in two segments: frozen products and snack products. The frozen products segment produces frozen fruits, vegetables, beverages and frozen desserts for sale primarily to groceries, club stores and mass merchandisers.
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