Zacks Investment Research Downgrades Jamba Inc. (JMBA) to Sell
Jamba Inc. (NASDAQ:JMBA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.
According to Zacks, “Jamba, Inc., through its subsidiary, Jamba Juice Company, offers blended beverages, juices, fruit smoothies, and snacks primarily in the United States. The company was founded in 1990. It was formerly known as Services Acquisition Corp. International and changed its name to Jamba, Inc. in November 2006. The company is headquartered in San Francisco, California “
JMBA has been the subject of several other research reports. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $16.00 target price (up previously from $15.00) on shares of Jamba in a research note on Friday, August 5th. TheStreet cut Jamba from a “hold” rating to a “sell” rating in a research note on Friday, August 5th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $16.00.
Shares of Jamba (NASDAQ:JMBA) opened at 10.74 on Tuesday. The stock’s 50 day moving average price is $10.76 and its 200-day moving average price is $11.28. Jamba has a one year low of $9.94 and a one year high of $14.65. The stock’s market cap is $163.83 million.
Jamba (NASDAQ:JMBA) last announced its earnings results on Thursday, August 4th. The company reported $0.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by $0.10. Jamba had a negative net margin of 0.48% and a negative return on equity of 11.23%. The firm had revenue of $21.50 million for the quarter, compared to the consensus estimate of $22.65 million. During the same period in the prior year, the business earned $0.19 EPS. The company’s quarterly revenue was down 60.3% compared to the same quarter last year. On average, equities analysts predict that Jamba will post ($0.09) earnings per share for the current fiscal year.
In related news, CEO David Pace bought 7,500 shares of Jamba stock in a transaction dated Friday, August 19th. The stock was acquired at an average cost of $11.47 per share, with a total value of $86,025.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Glenn W. Welling acquired 250,000 shares of Jamba stock in a transaction that occurred on Wednesday, August 10th. The stock was acquired at an average cost of $10.96 per share, with a total value of $2,740,000.00. The disclosure for this purchase can be found here. Insiders own 15.85% of the company’s stock.
Large investors have recently made changes to their positions in the company. Metropolitan Life Insurance Co. NY acquired a new stake in shares of Jamba during the first quarter valued at about $129,000. Barclays PLC acquired a new stake in shares of Jamba during the first quarter valued at about $327,000. First Foundation Advisors acquired a new stake in shares of Jamba during the second quarter valued at about $478,000. BlackRock Investment Management LLC increased its stake in shares of Jamba by 5.8% in the second quarter. BlackRock Investment Management LLC now owns 49,509 shares of the company’s stock valued at $509,000 after buying an additional 2,699 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Jamba by 0.5% in the first quarter. Geode Capital Management LLC now owns 101,228 shares of the company’s stock valued at $1,251,000 after buying an additional 530 shares in the last quarter. 96.41% of the stock is owned by hedge funds and other institutional investors.
Jamba Company Profile
Jamba, Inc is a restaurant retailer of specialty food and beverage offerings. The Company operates through retail segment. The Company’s offerings include whole fruit smoothies, squeezed juices and juice blends, Energy Bowls, and a range of food items including, hot oatmeal, breakfast wraps, sandwiches, Artisan Flatbreads, baked goods and snacks.
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