Bob Evans Farms, Inc. (BOBE) Lifted to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Bob Evans Farms, Inc. (NASDAQ:BOBE) from a hold rating to a buy rating in a report issued on Monday. The firm currently has $77.00 price objective on the restaurant operator’s stock.
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. “
BOBE has been the subject of a number of other research reports. BidaskClub raised Bob Evans Farms from a hold rating to a buy rating in a report on Wednesday, August 2nd. Oppenheimer Holdings, Inc. reissued a market perform rating and issued a $77.00 target price on shares of Bob Evans Farms in a report on Monday, June 5th. Maxim Group lifted their target price on Bob Evans Farms from $74.00 to $80.00 and gave the stock a buy rating in a report on Tuesday, June 13th. CIBC reissued a market perform rating and issued a $77.00 target price on shares of Bob Evans Farms in a report on Monday, June 5th. Finally, Berenberg Bank began coverage on Bob Evans Farms in a report on Wednesday, July 19th. They issued a buy rating and a $77.00 target price for the company. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $75.49.
Shares of Bob Evans Farms (NASDAQ:BOBE) opened at 66.75 on Monday. The company has a market cap of $1.33 billion, a P/E ratio of 10.62 and a beta of 0.55. The company’s 50-day moving average price is $66.95 and its 200 day moving average price is $66.31. Bob Evans Farms has a one year low of $36.88 and a one year high of $75.34.
Bob Evans Farms (NASDAQ:BOBE) last posted its earnings results on Wednesday, August 30th. The restaurant operator reported $0.37 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.37. The business had revenue of $109.30 million during the quarter, compared to analyst estimates of $102.29 million. Bob Evans Farms had a return on equity of 19.52% and a net margin of 19.49%. The company’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.48 EPS. On average, equities research analysts anticipate that Bob Evans Farms will post $2.19 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 18th. Investors of record on Monday, September 4th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Wednesday, August 30th. Bob Evans Farms’s payout ratio is currently 22.08%.
In related news, SVP Thomas Alan Ashworth sold 7,100 shares of Bob Evans Farms stock in a transaction on 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 owns 4,367 shares of the company’s stock, valued at $308,746.90. The sale 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 institutional investors and hedge funds have recently modified their holdings of BOBE. Quantbot Technologies LP bought a new stake in shares of Bob Evans Farms in the second quarter worth $101,000. Flinton Capital Management LLC grew its holdings in shares of 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 worth $101,000 after acquiring an additional 528 shares during the period. Ameritas Investment Partners Inc. bought a new stake in shares of Bob Evans Farms in the first quarter worth $105,000. PNC Financial Services Group Inc. grew its holdings in shares of 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 worth $109,000 after acquiring an additional 68 shares during the period. Finally, Creative Planning grew its holdings in shares of Bob Evans Farms by 65.4% in the second quarter. Creative Planning now owns 1,925 shares of the restaurant operator’s stock worth $138,000 after acquiring an additional 761 shares during the period. 77.67% of the stock is owned by 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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