Inventure Foods Inc. (SNAK) Trading Up 2.7%
Inventure Foods Inc. (NASDAQ:SNAK)’s share price was up 2.7% during trading on Wednesday . The company traded as high as $8.65 and last traded at $8.30, with a volume of 130,241 shares traded. The stock had previously closed at $8.08.
A number of equities analysts recently commented on SNAK shares. Zacks Investment Research upgraded Inventure Foods from a “sell” rating to a “hold” rating in a report on Tuesday, July 5th. 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 equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $9.40.
The stock has a 50 day moving average price of $7.82 and a 200 day moving average price of $6.61. The company’s market capitalization is $164.55 million.
Inventure Foods (NASDAQ:SNAK) last issued its earnings results on Wednesday, July 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.01 by $0.02. During the same quarter in the prior year, the business posted ($0.02) EPS. The business earned $69.30 million during the quarter, compared to analysts’ expectations of $66.40 million. The company’s revenue was up 4.4% on a year-over-year basis. 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 firm’s stock in a transaction dated Friday, May 6th. The stock was sold at an average price of $7.16, for a total transaction of $43,353.80. Following the transaction, the senior vice president now owns 18,945 shares in the company, valued at $135,646.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Paul J. Lapadat bought 7,000 shares of Inventure Foods stock in a transaction on Friday, May 27th. The shares were bought at an average price of $7.25 per share, for a total transaction of $50,750.00. Following the acquisition, the director now 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 acquired a new stake in shares of Inventure Foods Inc. (NASDAQ:SNAK) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,020,000 shares of the company’s stock, valued at approximately $7,242,000. State of New Jersey Common Pension Fund D owned about 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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