Whole Earth Brands (NASDAQ:FREE) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of Whole Earth Brands (NASDAQ:FREE) from a strong sell rating to a hold rating in a research note published on Tuesday morning, Zacks.com reports.

According to Zacks, “Whole Earth Brands expand its branded products platform through investment opportunities in the natural alternatives and clean label categories across consumer product industry. Whole Earth Brands, formerly known as Act II Global Acquisition Corp., is based in Chicago, Illinois. “

Several other research analysts have also commented on the stock. Jefferies Financial Group began coverage on shares of Whole Earth Brands in a report on Thursday, September 30th. They issued a buy rating and a $22.00 price target on the stock. Roth Capital raised their price target on shares of Whole Earth Brands from $18.00 to $20.00 and gave the company a buy rating in a report on Friday, September 24th. Finally, Cowen began coverage on shares of Whole Earth Brands in a report on Wednesday, December 15th. They issued an outperform rating and a $16.00 price target on the stock. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Buy and an average price target of $18.67.

Shares of FREE stock opened at $10.01 on Tuesday. Whole Earth Brands has a 1-year low of $9.65 and a 1-year high of $14.95. The company has a current ratio of 2.43, a quick ratio of 0.96 and a debt-to-equity ratio of 1.22. The firm’s 50-day simple moving average is $10.99 and its 200-day simple moving average is $11.92.

Whole Earth Brands (NASDAQ:FREE) last announced its quarterly earnings data on Tuesday, November 9th. The company reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.03). The company had revenue of $128.94 million for the quarter, compared to analysts’ expectations of $129.00 million. Whole Earth Brands had a positive return on equity of 4.92% and a negative net margin of 1.06%. During the same quarter in the previous year, the company earned ($0.07) earnings per share. On average, equities research analysts forecast that Whole Earth Brands will post 0.95 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in the company. First Republic Investment Management Inc. grew its position in shares of Whole Earth Brands by 2.7% during the third quarter. First Republic Investment Management Inc. now owns 67,772 shares of the company’s stock worth $783,000 after buying an additional 1,760 shares in the last quarter. FORA Capital LLC grew its position in shares of Whole Earth Brands by 55.0% during the second quarter. FORA Capital LLC now owns 5,492 shares of the company’s stock worth $80,000 after buying an additional 1,949 shares in the last quarter. Trust Co. of Vermont grew its position in shares of Whole Earth Brands by 24.9% during the third quarter. Trust Co. of Vermont now owns 10,027 shares of the company’s stock worth $116,000 after buying an additional 2,000 shares in the last quarter. Invesco Ltd. grew its position in shares of Whole Earth Brands by 9.1% during the third quarter. Invesco Ltd. now owns 32,252 shares of the company’s stock worth $373,000 after buying an additional 2,693 shares in the last quarter. Finally, Royal Bank of Canada boosted its holdings in Whole Earth Brands by 50.5% in the third quarter. Royal Bank of Canada now owns 8,361 shares of the company’s stock worth $97,000 after purchasing an additional 2,804 shares during the period. 79.08% of the stock is owned by institutional investors and hedge funds.

About Whole Earth Brands

Act II Global Acquisition Corp. is a blank check company. It intends to focus on the business of following sector: consumer packaged goods, consumables and hospitality including restaurants. The company was founded on August 16, 2018 and is headquartered in New York, NY.

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