Wells Fargo & Company Trims Treehouse Foods, Inc. (THS) Target Price to $41.00
Treehouse Foods, Inc. (NYSE:THS) had its price objective lowered by Wells Fargo & Company from $43.00 to $41.00 in a research report report published on Tuesday morning. Wells Fargo & Company currently has a market perform rating on the stock.
Other analysts have also issued research reports about the company. Bank of America Corporation began coverage on Treehouse Foods in a report on Tuesday, September 19th. They set a neutral rating and a $68.00 price objective for the company. Jefferies Group LLC reiterated a buy rating and set a $100.00 price objective on shares of Treehouse Foods in a report on Tuesday, September 26th. Vertical Group lowered Treehouse Foods from a buy rating to a hold rating and decreased their price objective for the company from $100.61 to $62.64 in a report on Friday, August 4th. Zacks Investment Research lowered Treehouse Foods from a hold rating to a sell rating in a report on Thursday, July 27th. Finally, Credit Suisse Group set a $68.00 price objective on Treehouse Foods and gave the company a neutral rating in a report on Tuesday, October 31st. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $59.51.
Shares of Treehouse Foods (NYSE:THS) traded up $0.80 during midday trading on Tuesday, reaching $43.66. The company’s stock had a trading volume of 1,433,293 shares, compared to its average volume of 789,254. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.16 and a quick ratio of 0.81. The company has a market cap of $2,460.00, a PE ratio of 14.33, a PEG ratio of 2.14 and a beta of 0.63. Treehouse Foods has a 1-year low of $40.26 and a 1-year high of $90.42.
Treehouse Foods (NYSE:THS) last issued its quarterly earnings data on Thursday, November 2nd. The company reported $0.67 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.11). Treehouse Foods had a negative net margin of 4.06% and a positive return on equity of 6.61%. The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the prior year, the company posted $0.70 EPS. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. analysts forecast that Treehouse Foods will post 2.72 EPS for the current year.
Treehouse Foods declared that its Board of Directors has initiated a share buyback program on Thursday, November 2nd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In related news, Director Gary Dale Smith purchased 2,000 shares of the business’s stock in a transaction on Tuesday, November 7th. The shares were bought at an average cost of $42.64 per share, with a total value of $85,280.00. Following the transaction, the director now owns 271 shares of the company’s stock, valued at $11,555.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sam K. Reed sold 11,480 shares of the stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $42.73, for a total value of $490,540.40. Following the sale, the chief executive officer now directly owns 80,747 shares in the company, valued at $3,450,319.31. The disclosure for this sale can be found here. Insiders sold a total of 34,440 shares of company stock valued at $2,027,712 in the last 90 days. 3.50% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Citigroup Inc. grew its position in Treehouse Foods by 120.6% during the 2nd quarter. Citigroup Inc. now owns 1,286 shares of the company’s stock worth $105,000 after purchasing an additional 703 shares during the period. Prudential Financial Inc. grew its position in Treehouse Foods by 269.8% during the 2nd quarter. Prudential Financial Inc. now owns 141,658 shares of the company’s stock worth $11,572,000 after purchasing an additional 103,350 shares during the period. Employees Retirement System of Texas grew its position in Treehouse Foods by 161.1% during the 2nd quarter. Employees Retirement System of Texas now owns 47,000 shares of the company’s stock worth $3,839,000 after purchasing an additional 29,000 shares during the period. Suntrust Banks Inc. grew its position in Treehouse Foods by 12.9% during the 2nd quarter. Suntrust Banks Inc. now owns 6,302 shares of the company’s stock worth $513,000 after purchasing an additional 722 shares during the period. Finally, Vivaldi Asset Management LLC acquired a new stake in Treehouse Foods during the 2nd quarter worth about $8,476,000.
About Treehouse Foods
TreeHouse Foods, Inc is a consumer packaged food and beverage manufacturer. The Company’s segments include North American Retail Grocery, Food Away From Home, and Industrial and Export. The Company manufactures a range of shelf stable, refrigerated, fresh and frozen products. Its product categories include beverages, salad dressings, snack nuts, beverage enhancers, pickles, sauces, cereals, pasta and dry dinners, cookies and crackers, retail bakery, aseptic products, jams and other products.
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