Bob Evans Farms, Inc. (BOBE) Upgraded to Hold by Zacks Investment Research
Zacks Investment Research upgraded shares of Bob Evans Farms, Inc. (NASDAQ:BOBE) from a sell rating to a hold rating in a research note published on Wednesday.
According to Zacks, “BOB EVANS FARMS, INC. is divided into two principal industry segments: the food products segment and the restaurant segment. The company owns and operates restaurants, including Bob Evans Restaurants, Owens Family Restaurants, Bob Evans small-town Restaurants and Cantina Del Rio Mexican restaurants. They also produce fresh and fully-cooked sausage products and fresh, deli-style salads which are distributed primarily to grocery stores in the Midwest, Southwest and Southeast. “
Other analysts have also issued reports about the stock. Berenberg Bank started coverage on shares of Bob Evans Farms in a research note on Wednesday, July 19th. They set a buy rating and a $77.00 target price for the company. BidaskClub lowered shares of Bob Evans Farms from a strong-buy rating to a buy rating in a research note on Wednesday, July 12th. Maxim Group boosted their target price on shares of Bob Evans Farms from $74.00 to $80.00 and gave the company a buy rating in a research note on Tuesday, June 13th. CIBC reissued a market perform rating and set a $77.00 target price on shares of Bob Evans Farms in a research note on Monday, June 5th. Finally, Oppenheimer Holdings, Inc. reissued a market perform rating and set a $77.00 target price on shares of Bob Evans Farms in a research note on Monday, June 5th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $73.40.
Shares of Bob Evans Farms (NASDAQ BOBE) traded down 0.42% during midday trading on Wednesday, hitting $66.00. 227,870 shares of the stock were exchanged. The firm has a 50-day moving average of $67.96 and a 200-day moving average of $65.41. Bob Evans Farms has a 1-year low of $36.88 and a 1-year high of $75.34. The company has a market capitalization of $1.31 billion, a P/E ratio of 10.50 and a beta of 0.54.
Bob Evans Farms (NASDAQ:BOBE) last issued its earnings results on Thursday, June 15th. The restaurant operator reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.19. The firm had revenue of $99.90 million during the quarter, compared to analyst estimates of $325.70 million. Bob Evans Farms had a net margin of 15.15% and a return on equity of 19.58%. The business’s revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.48 earnings per share. On average, equities analysts expect that Bob Evans Farms will post $2.19 EPS for the current year.
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In related news, SVP Thomas Alan Ashworth sold 7,100 shares of Bob Evans Farms stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $70.70, for a total value of $501,970.00. Following the completion of the sale, the senior vice president now directly owns 4,367 shares in the company, valued at $308,746.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.20% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Quantbot Technologies LP purchased a new stake in Bob Evans Farms during the second quarter valued at $101,000. Flinton Capital Management LLC increased its stake 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 last quarter. Ameritas Investment Partners Inc. purchased a new stake in Bob Evans Farms during the first quarter valued at $105,000. PNC Financial Services Group Inc. increased its stake in Bob Evans Farms by 4.2% in the first quarter. PNC Financial Services Group Inc. now owns 1,680 shares of the restaurant operator’s stock valued at $109,000 after buying an additional 68 shares during the last quarter. Finally, Creative Planning increased its stake in Bob Evans Farms by 65.4% in the second quarter. Creative Planning now owns 1,925 shares of the restaurant operator’s stock valued at $138,000 after buying an additional 761 shares during the last quarter. Hedge funds and other institutional investors own 81.68% of the company’s stock.
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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