Tyson Foods (TSN) Stock Rating Upgraded by Zacks Investment Research
Tyson Foods (NYSE:TSN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday. The brokerage presently has a $83.00 price objective on the stock. Zacks Investment Research‘s price target indicates a potential upside of 10.50% from the stock’s previous close.
According to Zacks, “Tyson Foods has surpassed the industry in the past six months owing to strong performance in all business segments, particularly Chicken and Beef. The Prepared Foods category has also been depicting solid growth in particular, courtesy of rising demand for protein-packed brands and synergies from the AdvancePierre’ buyout. Notably, solid volumes across most units and savings from Financial Fitness program fueled Tyson Foods’ results in first-quarter fiscal 2018, wherein both the top and bottom line rose year over year and topped estimates. The solid results, focus on tapping rising demand for protein and expected gains from tax savings also led to a heartening outlook for fiscal 2018. However, the company continues to incur higher wage and freight costs due to tightening market conditions. These hurdles are expected to linger and increase cost burden in fiscal 2018. Also, raw materials price volatility remains a threat.”
A number of other equities analysts have also recently weighed in on the company. Credit Suisse Group set a $78.00 price target on Tyson Foods and gave the stock a “hold” rating in a research note on Friday. Piper Jaffray Companies set a $92.00 price target on Tyson Foods and gave the stock a “buy” rating in a research note on Friday. Mizuho set a $92.00 price target on Tyson Foods and gave the stock a “buy” rating in a research note on Friday. Jefferies Group reissued a “buy” rating on shares of Tyson Foods in a research note on Thursday. Finally, KeyCorp reaffirmed a “buy” rating and set a $88.00 target price on shares of Tyson Foods in a research note on Thursday, December 21st. Seven research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $76.31.
Tyson Foods (NYSE:TSN) last issued its quarterly earnings results on Thursday, February 8th. The company reported $1.81 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.51 by $0.30. The firm had revenue of $10.23 billion for the quarter, compared to analysts’ expectations of $9.88 billion. Tyson Foods had a return on equity of 19.25% and a net margin of 7.15%. Tyson Foods’s revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the business posted $1.59 EPS. analysts expect that Tyson Foods will post 6.65 earnings per share for the current fiscal year.
In other Tyson Foods news, General Counsel Bebber David L. Van sold 164,348 shares of Tyson Foods stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $83.26, for a total transaction of $13,683,614.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Dennis Leatherby sold 115,293 shares of Tyson Foods stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $82.09, for a total value of $9,464,402.37. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 397,342 shares of company stock worth $32,702,254. Company insiders own 1.55% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in TSN. OxFORD Asset Management LLP bought a new stake in shares of Tyson Foods in the 2nd quarter valued at approximately $232,000. Stifel Financial Corp grew its stake in shares of Tyson Foods by 63.9% in the 2nd quarter. Stifel Financial Corp now owns 5,434 shares of the company’s stock valued at $341,000 after buying an additional 2,119 shares in the last quarter. Archford Capital Strategies LLC grew its stake in shares of Tyson Foods by 27,492.3% in the 2nd quarter. Archford Capital Strategies LLC now owns 3,587 shares of the company’s stock valued at $149,000 after buying an additional 3,574 shares in the last quarter. Toronto Dominion Bank grew its stake in shares of Tyson Foods by 25.9% in the 2nd quarter. Toronto Dominion Bank now owns 97,612 shares of the company’s stock valued at $6,112,000 after buying an additional 20,110 shares in the last quarter. Finally, Sentry Investment Management LLC grew its stake in shares of Tyson Foods by 1.0% in the 2nd quarter. Sentry Investment Management LLC now owns 22,219 shares of the company’s stock valued at $1,392,000 after buying an additional 229 shares in the last quarter. 70.80% of the stock is owned by institutional investors and hedge funds.
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About Tyson Foods
Tyson Foods, Inc is a food company, which is engaged in offering chicken, beef and pork, as well as prepared foods. The Company offers food products under Tyson, Jimmy Dean, Hillshire Farm, Sara Lee, Ball Park, Wright, Aidells and State Fair brands. The Company operates through four segments: Chicken, Beef, Pork and Prepared Foods.
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