Inventure Foods Inc. (SNAK) Upgraded by Zacks Investment Research to Hold
Inventure Foods Inc. (NASDAQ:SNAK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “Inventure Foods, Inc., formerly known as Inventure Group, Inc., is engaged in the development, production, marketing, and distribution of natural and indulgent specialty snack food brands. The Company manufactures and sells under a variety of Company owned or licensed brand names, including T.G.I. Friday’s, BURGER KING, Jamba, Rader Farms, Boulder Canyon Natural Foods, Poore Brothers, Tato Skins and Bob’s Texas Style. It operates in three segments: manufactured snack products, berry products and distributed products. The manufactured snack products segment produces potato chips, potato crisps and potato skins. The berry products segment grows, processes, and markets berry blends, raspberries, blueberries, and rhubarb, as well as resells marionberries, cherries, cranberries, strawberries, and other fruits. The distributed products segment sells snack food products manufactured by other companies. The Company is headquartered in Phoenix, Arizona with manufacturing facilities in Arizona, Indiana and Washington. “
Separately, DA Davidson upped their price objective on Inventure Foods from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Friday, September 16th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $9.60.
Shares of Inventure Foods (NASDAQ:SNAK) opened at 9.47 on Tuesday. The firm’s market cap is $186.28 million. Inventure Foods has a 52 week low of $4.91 and a 52 week high of $9.82. The firm has a 50-day moving average price of $9.54 and a 200-day moving average price of $7.90.
Inventure Foods (NASDAQ:SNAK) last posted its quarterly earnings data on Wednesday, July 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by $0.02. Inventure Foods had a negative return on equity of 7.31% and a negative net margin of 1.98%. The firm earned $69.30 million during the quarter, compared to analysts’ expectations of $66.40 million. During the same quarter in the previous year, the company posted ($0.02) earnings per share. Inventure Foods’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, equities research analysts predict that Inventure Foods will post $0.04 earnings per share for the current year.
Several large investors have recently added to or reduced their stakes in SNAK. Rhumbline Advisers raised its stake in Inventure Foods by 0.5% in the second quarter. Rhumbline Advisers now owns 18,546 shares of the company’s stock worth $145,000 after buying an additional 90 shares during the period. Wedbush Securities Inc. raised its stake in Inventure Foods by 2.6% in the second quarter. Wedbush Securities Inc. now owns 31,295 shares of the company’s stock worth $244,000 after buying an additional 800 shares during the period. State Street Corp raised its stake in Inventure Foods by 0.7% in the first quarter. State Street Corp now owns 200,919 shares of the company’s stock worth $1,135,000 after buying an additional 1,418 shares during the period. Geode Capital Management LLC raised its stake in Inventure Foods by 2.0% in the first quarter. Geode Capital Management LLC now owns 126,354 shares of the company’s stock worth $713,000 after buying an additional 2,533 shares during the period. Finally, BlackRock Investment Management LLC raised its stake in Inventure Foods by 6.2% in the second quarter. BlackRock Investment Management LLC now owns 73,237 shares of the company’s stock worth $572,000 after buying an additional 4,260 shares during the period. 94.52% of the stock is owned by institutional investors.
Inventure Foods Company Profile
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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