Inventure Foods Inc. (SNAK) Trading Down 0.3%
Inventure Foods Inc. (NASDAQ:SNAK)’s share price dropped 0.3% on Friday . The stock traded as low as $7.82 and last traded at $7.87, with a volume of 107,086 shares changing hands. The stock had previously closed at $7.89.
SNAK has been the subject of several analyst reports. Zacks Investment Research upgraded Inventure Foods from a “sell” rating to a “hold” rating in a report on Tuesday. Roth Capital decreased their price objective on Inventure Foods from $12.00 to $8.00 and set a “buy” rating for the company in a report on Monday, March 21st. Finally, Wunderlich restated a “buy” rating and issued a $10.00 price objective on shares of Inventure Foods in a report on Monday, May 23rd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $9.40.
The company has a 50-day moving average price of $7.61 and a 200-day moving average price of $6.51. The firm’s market capitalization is $154.35 million.
Inventure Foods (NASDAQ:SNAK) last issued its quarterly earnings results on Thursday, April 28th. The company reported ($0.05) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.01. During the same period last year, the company posted $0.06 EPS. The firm had revenue of $69.90 million for the quarter, compared to the consensus estimate of $74.74 million. The business’s revenue was down 9.9% compared to the same quarter last year. On average, equities analysts forecast that Inventure Foods Inc. will post $0.10 EPS for the current fiscal year.
In other Inventure Foods news, SVP Daniel W. Hammer sold 6,055 shares of the company’s stock in a transaction on Friday, May 6th. The shares were sold at an average price of $7.16, for a total transaction of $43,353.80. Following the sale, the senior vice president now owns 18,945 shares of the company’s stock, valued at $135,646.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul J. Lapadat purchased 7,000 shares of the business’s stock in a transaction on Friday, May 27th. The shares were purchased at an average cost of $7.25 per share, for a total transaction of $50,750.00. Following the transaction, the director now directly owns 20,119 shares of the company’s stock, valued at approximately $145,862.75. The disclosure for this purchase can be found here.
A hedge fund recently bought a new stake in Inventure Foods stock. State of New Jersey Common Pension Fund D purchased a new position in shares of Inventure Foods Inc. (NASDAQ:SNAK) during the fourth quarter, Holdings Channel reports. The fund purchased 1,020,000 shares of the company’s stock, valued at approximately $7,242,000. State of New Jersey Common Pension Fund D owned 5.20% of Inventure Foods at the end of the most recent quarter.
Inventure Foods, Inc is a marketer and manufacturer of healthy/natural and indulgent specialty snack food brands. The Company operates in two segments: frozen products and snack products. The frozen products segment produces frozen fruits, vegetables, beverages and frozen desserts for sale primarily to groceries, club stores and mass merchandisers.
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