AdvancePierre Foods Holdings Inc (APFH) Upgraded by Zacks Investment Research to Buy
Zacks Investment Research upgraded shares of AdvancePierre Foods Holdings Inc (NASDAQ:APFH) from a hold rating to a buy rating in a research note issued to investors on Tuesday. The firm currently has $31.00 price objective on the stock.
According to Zacks, “AdvancePierre Foods Holdings, Inc. is a producer and distributor of sandwiches, sandwich components, other entrees and snacks. The company serves foodservice, retail and convenience store. Its product consists of breakfast sandwiches, peanut butter and jelly sandwiches, hamburgers, fully cooked hamburger, chicken patties, Philly steaks, country-fried steak, stuffed entrées, chicken tenders and cinnamon dough bites. AdvancePierre Foods Holdings, Inc. is headquartered in Cincinnati, Ohio. “
A number of other research analysts also recently weighed in on the company. Barclays PLC restated an equal weight rating and issued a $27.00 price target on shares of AdvancePierre Foods Holdings in a research note on Tuesday, October 11th. Wells Fargo & Co. assumed coverage on AdvancePierre Foods Holdings in a research note on Monday, August 15th. They issued an outperform rating for the company. Deutsche Bank AG assumed coverage on AdvancePierre Foods Holdings in a research note on Tuesday, August 9th. They issued a buy rating and a $28.00 price target for the company. BMO Capital Markets assumed coverage on AdvancePierre Foods Holdings in a research note on Tuesday, August 9th. They issued an outperform rating and a $29.00 price target for the company. Finally, Morgan Stanley assumed coverage on AdvancePierre Foods Holdings in a research note on Tuesday, August 9th. They issued an overweight rating and a $28.00 price target for the company. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $28.43.
AdvancePierre Foods Holdings (NASDAQ:APFH) opened at 27.69 on Tuesday. The company has a 50 day moving average price of $26.30 and a 200-day moving average price of $25.52. The firm has a market capitalization of $2.13 billion and a price-to-earnings ratio of 17.44. AdvancePierre Foods Holdings has a 52 week low of $22.99 and a 52 week high of $28.32.
AdvancePierre Foods Holdings (NASDAQ:APFH) last posted its quarterly earnings results on Wednesday, August 10th. The company reported $0.37 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.16. The company earned $370 million during the quarter, compared to the consensus estimate of $391.90 million. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. Equities analysts predict that AdvancePierre Foods Holdings will post $1.67 earnings per share for the current year.
The firm also recently announced a special dividend, which was paid on Wednesday, September 28th. Stockholders of record on Monday, August 29th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, August 25th.
A hedge fund recently bought a new stake in AdvancePierre Foods Holdings stock. Moody Aldrich Partners LLC purchased a new stake in AdvancePierre Foods Holdings Inc (NASDAQ:APFH) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 85,340 shares of the company’s stock, valued at approximately $2,352,000. AdvancePierre Foods Holdings makes up about 1.6% of Moody Aldrich Partners LLC’s portfolio, making the stock its 13th largest position. Moody Aldrich Partners LLC owned about 0.11% of AdvancePierre Foods Holdings as of its most recent filing with the SEC.
About AdvancePierre Foods Holdings
AdvancePierre Foods Holdings, Inc, formerly Pierre Foods Holding Corporation, is a producer and distributor of sandwiches, sandwich components, and other entrees and snacks. The Company operates through segments, including Foodservice, which sells its products to national and regional distributors; Retail, which supplies its products to national and regional grocery chains, major warehouse club stores, mass retailers and dollar stores; Convenience, which sells its products to national and regional convenience chains and vending providers, and Industrial, which includes sales to other food producers under short-term co-manufacturing agreements.
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