AdvancePierre Foods Holdings Inc (APFH) Trading Down 3.2%
Shares of AdvancePierre Foods Holdings Inc (NASDAQ:APFH) were down 3.2% on Wednesday . The stock traded as low as $24.67 and last traded at $24.91, with a volume of 85,873 shares trading hands. The stock had previously closed at $25.73.
Several analysts have recently weighed in on APFH shares. Wells Fargo & Co. started coverage on shares of AdvancePierre Foods Holdings in a research note on Monday, August 15th. They issued an “outperform” rating for the company. Barclays PLC started coverage on shares of AdvancePierre Foods Holdings in a research note on Tuesday, August 9th. They issued an “equal weight” rating and a $27.00 price target for the company. Deutsche Bank AG initiated coverage on shares of AdvancePierre Foods Holdings in a research note on Tuesday, August 9th. They issued a “buy” rating and a $28.00 price target for the company. Morgan Stanley initiated coverage on shares of AdvancePierre Foods Holdings in a report on Tuesday, August 9th. They issued an “overweight” rating and a $28.00 price objective on the stock. Finally, Goldman Sachs Group Inc. initiated coverage on shares of AdvancePierre Foods Holdings in a report on Tuesday, August 9th. They issued a “neutral” rating and a $27.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $28.00.
The firm has a market cap of $1.96 billion and a P/E ratio of 16.07. The stock has a 50 day moving average price of $24.74 and a 200-day moving average price of $24.74.
AdvancePierre Foods Holdings (NASDAQ:APFH) last issued its quarterly earnings results on Wednesday, August 10th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.16. The firm had revenue of $370 million for the quarter, compared to analysts’ expectations of $391.90 million. The company’s revenue was down 5.4% compared to the same quarter last year. Equities research analysts predict that AdvancePierre Foods Holdings Inc will post $1.60 earnings per share for the current year.
The company also recently declared a special dividend, which will be paid on Wednesday, September 28th. Stockholders of record on Monday, August 29th will be issued a dividend of $0.14 per share. The ex-dividend date is Thursday, August 25th.
In other news, Director Principal Opportunities Fu Ocm sold 8,630,190 shares of AdvancePierre Foods Holdings stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $21.00, for a total transaction of $181,233,990.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
AdvancePierre Foods Holdings, Inc, formerly Pierre Foods Holding Corporation, is a producer and distributor of sandwiches, sandwich components, and other entrees and snacks. The Company operates through segments, including Foodservice, which sells its products to national and regional distributors; Retail, which supplies its products to national and regional grocery chains, major warehouse club stores, mass retailers and dollar stores; Convenience, which sells its products to national and regional convenience chains and vending providers, and Industrial, which includes sales to other food producers under short-term co-manufacturing agreements.
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