Bob Evans Farms, Inc. (BOBE) Cut to Hold at Berenberg Bank
Bob Evans Farms, Inc. (NASDAQ:BOBE) was downgraded by investment analysts at Berenberg Bank from a “buy” rating to a “hold” rating in a research note issued on Wednesday. They currently have a $77.00 price target on the restaurant operator’s stock. Berenberg Bank’s price objective suggests a potential downside of 0.53% from the company’s current price.
A number of other analysts also recently weighed in on BOBE. Oppenheimer Holdings, Inc. reissued a “market perform” rating and set a $77.00 target price on shares of Bob Evans Farms in a research report on Monday, June 5th. CIBC reaffirmed a “market perform” rating and set a $77.00 price objective on shares of Bob Evans Farms in a research report on Monday, June 5th. Zacks Investment Research raised shares of Bob Evans Farms from a “sell” rating to a “hold” rating in a research report on Friday, June 9th. Maxim Group raised their price objective on shares of Bob Evans Farms from $74.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, June 13th. Finally, BidaskClub downgraded shares of Bob Evans Farms from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 12th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Bob Evans Farms currently has an average rating of “Hold” and a consensus target price of $74.77.
Shares of Bob Evans Farms (BOBE) traded up 0.03% on Wednesday, reaching $77.43. 332,358 shares of the company were exchanged. The company’s 50-day moving average price is $67.41 and its 200 day moving average price is $67.17. Bob Evans Farms has a 12 month low of $36.88 and a 12 month high of $78.18. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 12.57 and a beta of 0.55.
Bob Evans Farms (NASDAQ:BOBE) last released its earnings results on Wednesday, August 30th. The restaurant operator reported $0.37 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.37. The business had revenue of $109.30 million during the quarter, compared to the consensus estimate of $102.29 million. Bob Evans Farms had a net margin of 19.49% and a return on equity of 19.52%. The company’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.48 EPS. On average, equities research analysts expect that Bob Evans Farms will post $2.19 EPS for the current year.
In related news, SVP Thomas Alan Ashworth sold 7,100 shares of Bob Evans Farms stock in a transaction on Thursday, June 22nd. The shares were 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 approximately $308,746.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of BOBE. BlackRock Inc. grew its position in Bob Evans Farms by 7,979.3% in the 1st quarter. BlackRock Inc. now owns 2,951,515 shares of the restaurant operator’s stock valued at $191,465,000 after purchasing an additional 2,914,983 shares during the period. Victory Capital Management Inc. grew its position in Bob Evans Farms by 4,068.0% in the 1st quarter. Victory Capital Management Inc. now owns 505,407 shares of the restaurant operator’s stock valued at $32,786,000 after purchasing an additional 493,281 shares during the period. Tudor Investment Corp ET AL acquired a new stake in Bob Evans Farms in the 1st quarter valued at $22,705,000. Balyasny Asset Management LLC acquired a new stake in Bob Evans Farms in the 2nd quarter valued at $19,139,000. Finally, Blair William & Co. IL acquired a new stake in Bob Evans Farms in the 2nd quarter valued at $15,751,000. 76.85% of the stock is owned by institutional investors and hedge funds.
Bob Evans Farms Company Profile
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.
Receive News & Ratings for Bob Evans Farms Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bob Evans Farms Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.