Zacks Investment Research lowered shares of Bob Evans Farms, Inc. (NASDAQ:BOBE) from a buy rating to a hold rating in a research note issued to investors on Wednesday.
According to Zacks, “BOB EVANS FARMS, INC. is divided into two principal industry segments: the food products segment and the restaurant segment. The company owns and operates restaurants, including Bob Evans Restaurants, Owens Family Restaurants, Bob Evans small-town Restaurants and Cantina Del Rio Mexican restaurants. They also produce fresh and fully-cooked sausage products and fresh, deli-style salads which are distributed primarily to grocery stores in the Midwest, Southwest and Southeast. “
A number of other research analysts have also recently commented on BOBE. BidaskClub cut Bob Evans Farms from a strong-buy rating to a buy rating in a research note on Wednesday, July 12th. Berenberg Bank started coverage on Bob Evans Farms in a research note on Wednesday, July 19th. They issued a buy rating and a $77.00 target price for the company. Maxim Group lowered their target price on Bob Evans Farms from $80.00 to $77.00 and set a buy rating for the company in a research note on Friday, August 18th. Sidoti began coverage on Bob Evans Farms in a research report on Wednesday, August 23rd. They set a neutral rating and a $76.00 price objective for the company. Finally, Oppenheimer Holdings, Inc. reaffirmed a hold rating and set a $72.00 price objective on shares of Bob Evans Farms in a research report on Friday, September 8th. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $76.05.
Bob Evans Farms (BOBE) opened at $77.44 on Wednesday. The company has a market capitalization of $1,544.66, a P/E ratio of 33.77 and a beta of 0.55. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.11 and a quick ratio of 0.83. Bob Evans Farms has a one year low of $42.69 and a one year high of $78.18.
Bob Evans Farms (NASDAQ:BOBE) last released its earnings results on Wednesday, August 30th. The restaurant operator reported $0.37 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.37. The company had revenue of $109.30 million during the quarter, compared to analysts’ expectations of $102.29 million. Bob Evans Farms had a return on equity of 19.52% and a net margin of 19.49%. The firm’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.48 EPS. analysts expect that Bob Evans Farms will post 2.21 earnings per share for the current year.
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Hedge funds have recently bought and sold shares of the stock. Quantbot Technologies LP bought a new position in Bob Evans Farms during the 2nd quarter valued at approximately $101,000. Flinton Capital Management LLC increased its holdings in shares of Bob Evans Farms by 60.0% in the 2nd quarter. Flinton Capital Management LLC now owns 1,408 shares of the restaurant operator’s stock worth $101,000 after purchasing an additional 528 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Bob Evans Farms by 4.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,680 shares of the restaurant operator’s stock worth $109,000 after purchasing an additional 68 shares in the last quarter. Ameritas Investment Partners Inc. increased its holdings in shares of Bob Evans Farms by 7.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,740 shares of the restaurant operator’s stock worth $125,000 after purchasing an additional 115 shares in the last quarter. Finally, Creative Planning increased its holdings in shares of Bob Evans Farms by 65.4% in the 2nd quarter. Creative Planning now owns 1,925 shares of the restaurant operator’s stock worth $138,000 after purchasing an additional 761 shares in the last quarter. 74.40% of the stock is owned by institutional investors.
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.
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