NutriSystem (NTRI) Stock Rating Upgraded by Zacks Investment Research
NutriSystem (NASDAQ:NTRI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm currently has a $58.00 price objective on the stock. Zacks Investment Research‘s price target suggests a potential upside of 7.51% from the stock’s current price.
According to Zacks, “Nutrisystem, Inc. is a leader in the weight loss industry, having helped millions of people loses weight. From the flagship Nutrisystem brand comes the clinically-tested Nutrisystem Lean13 program, designed to deliver weight loss of up to 13 pounds and seven inches in the first month. South Beach Diet became an all-new structured meal delivery weight-loss program following the acquisition of the brand. Additional Nutrisystem branded weight-loss products include Fast 5 and Turbo 10, as well as multi-day kits and individual products at select retail outlets. “
Several other equities research analysts have also recently commented on NTRI. BidaskClub cut shares of NutriSystem from a “buy” rating to a “hold” rating in a research report on Saturday, August 26th. B. Riley set a $74.00 target price on shares of NutriSystem and gave the stock a “buy” rating in a research report on Thursday, October 26th. Finally, Lake Street Capital set a $73.00 target price on shares of NutriSystem and gave the stock a “buy” rating in a research report on Thursday, October 26th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. NutriSystem has a consensus rating of “Buy” and an average target price of $67.44.
NutriSystem (NASDAQ:NTRI) last posted its earnings results on Wednesday, October 25th. The company reported $0.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.03. NutriSystem had a net margin of 8.27% and a return on equity of 49.69%. The firm had revenue of $158.10 million during the quarter, compared to analysts’ expectations of $155.21 million. During the same period last year, the company posted $0.27 EPS. The company’s quarterly revenue was up 26.9% compared to the same quarter last year. analysts predict that NutriSystem will post 1.95 EPS for the current year.
NutriSystem declared that its Board of Directors has initiated a stock buyback program on Wednesday, October 25th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its shares are undervalued.
In related news, insider Dawn M. Zier sold 11,000 shares of the stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $49.94, for a total value of $549,340.00. Following the completion of the transaction, the insider now directly owns 210,666 shares in the company, valued at approximately $10,520,660.04. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Michael P. Monahan sold 11,335 shares of the stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $55.03, for a total transaction of $623,765.05. Following the completion of the transaction, the chief financial officer now owns 55,933 shares of the company’s stock, valued at $3,077,992.99. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,134 shares of company stock valued at $1,913,045. 2.40% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of NTRI. Cypress Capital Management LLC WY bought a new position in shares of NutriSystem in the 3rd quarter worth about $112,000. Riverhead Capital Management LLC increased its stake in NutriSystem by 62.1% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,431 shares of the company’s stock valued at $126,000 after purchasing an additional 931 shares in the last quarter. Ameritas Investment Partners Inc. increased its stake in NutriSystem by 10.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,608 shares of the company’s stock valued at $136,000 after purchasing an additional 257 shares in the last quarter. Victory Capital Management Inc. increased its stake in NutriSystem by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 2,646 shares of the company’s stock valued at $138,000 after purchasing an additional 397 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in NutriSystem during the 2nd quarter valued at about $199,000. Institutional investors own 92.48% of the company’s stock.
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Nutrisystem, Inc is a provider of weight management products and services, including nutritionally balanced weight loss programs, multi-day kits available at retail locations and digital tools to support weight loss. The Company’s program customers purchase monthly food packages containing four-week meal plan consisting supply of breakfasts, lunches, dinners and snacks and flex meal plan recipes, which they supplement with fresh fruits, vegetables and dairy.
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