Jamba Inc. (JMBA) Downgraded to “Sell” at Zacks Investment Research
Jamba Inc. (NASDAQ:JMBA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Jamba, Inc., through its subsidiary, Jamba Juice Company, offers blended beverages, juices, fruit smoothies, and snacks primarily in the United States. The company was founded in 1990. It was formerly known as Services Acquisition Corp. International and changed its name to Jamba, Inc. in November 2006. The company is headquartered in San Francisco, California “
Several other research firms have also issued reports on JMBA. TheStreet lowered shares of Jamba from a “hold” rating to a “sell” rating in a research note on Friday, August 5th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $16.00 target price (up previously from $15.00) on shares of Jamba in a research note on Friday, August 5th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $16.00.
Shares of Jamba (NASDAQ:JMBA) opened at 10.79 on Tuesday. The firm has a 50-day moving average of $10.80 and a 200 day moving average of $11.28. Jamba has a 52 week low of $9.94 and a 52 week high of $14.84. The firm’s market cap is $164.59 million.
Jamba (NASDAQ:JMBA) last posted its earnings results on Thursday, August 4th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by $0.10. Jamba had a negative return on equity of 11.23% and a negative net margin of 0.48%. The firm earned $21.50 million during the quarter, compared to the consensus estimate of $22.65 million. During the same quarter in the previous year, the company earned $0.19 EPS. The business’s revenue was down 60.3% compared to the same quarter last year. Equities research analysts predict that Jamba will post ($0.09) EPS for the current fiscal year.
In related news, CEO David Pace purchased 7,500 shares of Jamba stock in a transaction that occurred on Friday, August 19th. The stock was bought at an average price of $11.47 per share, for a total transaction of $86,025.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Glenn W. Welling purchased 250,000 shares of Jamba stock in a transaction that occurred on Wednesday, August 10th. The shares were bought at an average price of $10.96 per share, with a total value of $2,740,000.00. The disclosure for this purchase can be found here. Corporate insiders own 15.85% of the company’s stock.
A number of institutional investors have recently bought and sold shares of JMBA. Wellington Management Group LLP raised its position in Jamba by 32.2% in the first quarter. Wellington Management Group LLP now owns 1,805,870 shares of the company’s stock valued at $22,321,000 after buying an additional 440,025 shares during the last quarter. Emerald Acquisition Ltd. acquired a new stake in Jamba during the second quarter valued at approximately $1,429,000. Pax World Management LLC increased its stake in Jamba by 20.0% in the second quarter. Pax World Management LLC now owns 579,307 shares of the company’s stock valued at $5,961,000 after buying an additional 96,380 shares during the period. Numeric Investors LLC increased its stake in Jamba by 184.5% in the second quarter. Numeric Investors LLC now owns 102,722 shares of the company’s stock valued at $1,057,000 after buying an additional 66,622 shares during the period. Finally, First Foundation Advisors acquired a new stake in Jamba during the second quarter valued at approximately $478,000. Institutional investors own 96.41% of the company’s stock.
Jamba, Inc is a restaurant retailer of specialty food and beverage offerings. The Company operates through retail segment. The Company’s offerings include whole fruit smoothies, squeezed juices and juice blends, Energy Bowls, and a range of food items including, hot oatmeal, breakfast wraps, sandwiches, Artisan Flatbreads, baked goods and snacks.
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