Maxim Group Reiterates Buy Rating for Bob Evans Farms, Inc. (BOBE)
Bob Evans Farms, Inc. (NASDAQ:BOBE)‘s stock had its “buy” rating restated by equities research analysts at Maxim Group in a report issued on Wednesday. They currently have a $77.00 price objective on the restaurant operator’s stock. Maxim Group’s price objective indicates a potential upside of 11.93% from the company’s current price.
The analysts wrote, “Bob Evans Farms (BOBE) reported F1Q18 (July) pro forma EPS of $0.37, which were in line with our $0.37 estimate and the $0.37 Street mean. Margins missed our estimates, though this was offset by strong top-line growth, which was highlighted by 18% y/y growth in the side dish business excluding the Pineland Farms acquisition.””
A number of other research firms also recently weighed in on BOBE. Sidoti started coverage on Bob Evans Farms in a research note on Wednesday, August 23rd. They set a “neutral” rating and a $76.00 price target on the stock. Berenberg Bank started coverage on Bob Evans Farms in a research note on Wednesday, July 19th. They set a “buy” rating and a $77.00 price target on the stock. Zacks Investment Research raised Bob Evans Farms from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. CIBC reissued a “market perform” rating and set a $77.00 price objective on shares of Bob Evans Farms in a report on Monday, June 5th. Finally, William Blair started coverage on Bob Evans Farms in a report on Wednesday, May 3rd. They set an “outperform” rating and a $67.41 price objective for the company. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $73.77.
Bob Evans Farms (NASDAQ BOBE) opened at 68.78 on Wednesday. The firm has a 50-day moving average price of $66.89 and a 200-day moving average price of $65.96. 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 $1.37 billion, a P/E ratio of 10.94 and a beta of 0.54.
Bob Evans Farms (NASDAQ:BOBE) last posted its quarterly earnings results on Wednesday, August 30th. The restaurant operator reported $0.37 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.37. Bob Evans Farms had a return on equity of 19.52% and a net margin of 19.49%. The business had revenue of $109.30 million for the quarter, compared to the consensus estimate of $102.29 million. During the same period in the prior year, the business earned $0.48 EPS. The firm’s revenue for the quarter was up 27.2% on a year-over-year basis. On average, analysts forecast that Bob Evans Farms will post $2.19 EPS for the current fiscal year.
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In other Bob Evans Farms news, SVP Thomas Alan Ashworth sold 7,100 shares of the business’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $70.70, for a total transaction of $501,970.00. Following the completion of the sale, the senior vice president now directly owns 4,367 shares of the company’s stock, valued at approximately $308,746.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.20% of the company’s stock.
A number of hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Bob Evans Farms by 7,979.3% in the first quarter. BlackRock Inc. now owns 2,951,515 shares of the restaurant operator’s stock worth $191,465,000 after buying an additional 2,914,983 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Bob Evans Farms by 4,068.0% in the first quarter. Victory Capital Management Inc. now owns 505,407 shares of the restaurant operator’s stock worth $32,786,000 after buying an additional 493,281 shares in the last quarter. Tudor Investment Corp ET AL acquired a new position in Bob Evans Farms during the first quarter valued at about $22,705,000. Balyasny Asset Management LLC acquired a new position in Bob Evans Farms during the second quarter valued at about $19,139,000. Finally, Blair William & Co. IL acquired a new position in Bob Evans Farms during the second quarter valued at about $15,751,000. 77.67% of the stock is owned by hedge funds and other institutional investors.
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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