Zacks Investment Research Upgrades Hostess Brands (TWNK) to Hold
Hostess Brands (NASDAQ:TWNK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “Hostess Brands, Inc. is involved in developing, manufacturing, marketing, selling and distributing sweet goods primarily in the United States. The company produces new and classic treats which includes Ding Dongs, Ho Hos, Donettes, Fruit Pies as well as Twinkies and CupCakes. Hostess Brands, Inc. is based in Kansas City, Missouri. “
A number of other analysts have also issued reports on the company. UBS AG assumed coverage on Hostess Brands in a report on Monday, July 31st. They issued a “neutral” rating and a $16.00 target price on the stock. BidaskClub raised Hostess Brands from a “hold” rating to a “buy” rating in a report on Friday, June 9th. Finally, Stephens assumed coverage on Hostess Brands in a report on Tuesday, May 16th. They issued an “overweight” rating and a $20.00 target price on the stock. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Hostess Brands currently has a consensus rating of “Buy” and an average target price of $17.83.
Hostess Brands (NASDAQ TWNK) traded up 0.15% during trading on Tuesday, hitting $13.44. The stock had a trading volume of 39,666 shares. Hostess Brands has a 52 week low of $10.65 and a 52 week high of $17.18. The firm’s market cap is $1.34 billion. The company’s 50-day moving average is $14.18 and its 200 day moving average is $15.56.
Hostess Brands (NASDAQ:TWNK) last released its earnings results on Tuesday, August 8th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.19 by $0.01. The business had revenue of $203.18 million during the quarter, compared to analysts’ expectations of $205.41 million. Equities analysts expect that Hostess Brands will post $0.59 EPS for the current fiscal year.
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In other news, CEO William Douglas Toler acquired 75,000 shares of the firm’s stock in a transaction dated Friday, August 11th. The shares were bought at an average price of $13.86 per share, with a total value of $1,039,500.00. Following the acquisition, the chief executive officer now owns 560,000 shares of the company’s stock, valued at $7,761,600. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael John Cramer acquired 5,000 shares of the firm’s stock in a transaction dated Friday, August 11th. The shares were purchased at an average cost of $13.98 per share, for a total transaction of $69,900.00. The disclosure for this purchase can be found here. 25.50% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in the company. Apollo Management Holdings L.P. acquired a new stake in shares of Hostess Brands during the 1st quarter worth approximately $341,466,000. Wellington Management Group LLP grew its holdings in shares of Hostess Brands by 73.2% during the 1st quarter. Wellington Management Group LLP now owns 12,404,218 shares of the company’s stock worth $196,854,000 after purchasing an additional 5,244,152 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Hostess Brands during the 2nd quarter worth approximately $118,956,000. Vanguard Group Inc. grew its holdings in shares of Hostess Brands by 56.9% during the 2nd quarter. Vanguard Group Inc. now owns 6,695,119 shares of the company’s stock worth $107,791,000 after purchasing an additional 2,428,469 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Hostess Brands by 61.8% during the 2nd quarter. Victory Capital Management Inc. now owns 6,264,825 shares of the company’s stock worth $100,863,000 after purchasing an additional 2,393,253 shares in the last quarter.
Hostess Brands Company Profile
Hostess Brands, Inc, a packaged food company, focuses on developing, manufacturing, marketing, selling, and distributing fresh sweet baked goods in the United States. The company operates in two segments, Sweet Baked Goods and Other. Its principal product lines include Twinkies, Zingers, Donettes, coffee cakes, cupcakes, cinnamon rolls, Ding Dongs, honey buns, fruit pies, Sno Balls, mini muffins, Chocodiles, Ho Hos, brownies, Suzy Qs, bread and buns, danishes, jumbo muffins, iced cookies, eclairs, and madeleines.
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