Bob Evans Farms, Inc. (BOBE) Stock Rating Lowered by Berenberg Bank
Bob Evans Farms, Inc. (NASDAQ:BOBE) was downgraded by stock analysts at Berenberg Bank from a “buy” rating to a “hold” rating in a research note issued on Wednesday. They currently have a $77.00 target price on the restaurant operator’s stock, down from their prior target price of $78.00. Berenberg Bank’s price target indicates a potential downside of 0.38% from the stock’s current price.
A number of other analysts have also commented on the company. Maxim Group lowered Bob Evans Farms from a “buy” rating to a “hold” rating and set a $77.00 price objective for the company. in a research report on Tuesday. Zacks Investment Research upgraded Bob Evans Farms from a “hold” rating to a “buy” rating and set a $77.00 price objective for the company in a research report on Wednesday, September 13th. Oppenheimer Holdings, Inc. reiterated a “hold” rating and issued a $72.00 price objective on shares of Bob Evans Farms in a research report on Friday, September 8th. Sidoti assumed coverage on Bob Evans Farms in a research report on Wednesday, August 23rd. They issued a “neutral” rating and a $76.00 price objective for the company. Finally, BidaskClub upgraded Bob Evans Farms from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Bob Evans Farms currently has an average rating of “Hold” and a consensus price target of $76.05.
Shares of Bob Evans Farms (NASDAQ:BOBE) opened at 77.29 on Wednesday. Bob Evans Farms has a 12-month low of $36.88 and a 12-month high of $78.18. The firm has a market cap of $1.54 billion, a P/E ratio of 12.54 and a beta of 0.55. The company has a 50-day moving average of $67.41 and a 200 day moving average of $67.17.
Bob Evans Farms (NASDAQ:BOBE) last announced its quarterly earnings data on Wednesday, August 30th. The restaurant operator reported $0.37 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.37. The firm had revenue of $109.30 million during the quarter, compared to analyst estimates of $102.29 million. Bob Evans Farms had a return on equity of 19.52% and a net margin of 19.49%. The company’s revenue was up 27.2% on a year-over-year basis. During the same period last year, the company earned $0.48 earnings per share. Equities analysts predict that Bob Evans Farms will post $2.18 EPS for the current year.
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Institutional investors and hedge funds have recently modified their holdings of the business. Waratah Capital Advisors Ltd. bought a new position in Bob Evans Farms during the first quarter worth about $2,154,000. Aperio Group LLC lifted its holdings in shares of Bob Evans Farms by 7.9% during the 2nd quarter. Aperio Group LLC now owns 5,344 shares of the restaurant operator’s stock valued at $384,000 after purchasing an additional 389 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of Bob Evans Farms by 13.3% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 187,645 shares of the restaurant operator’s stock valued at $12,173,000 after purchasing an additional 22,049 shares in the last quarter. State Street Corp lifted its holdings in shares of Bob Evans Farms by 1.8% during the 1st quarter. State Street Corp now owns 531,462 shares of the restaurant operator’s stock valued at $34,473,000 after purchasing an additional 9,181 shares in the last quarter. Finally, Sei Investments Co. bought a new position in shares of Bob Evans Farms during the 1st quarter valued at about $818,000. Hedge funds and other institutional investors own 76.85% of the company’s stock.
About Bob Evans Farms
Bob Evans Farms, Inc (Bob Evans) is a producer and distributor of refrigerated potato, pasta and vegetable-based side dishes, pork sausage, and a variety of refrigerated and frozen food items under the Bob Evans and Owens or Country Creek brand names. The Company’s food products are distributed to customers throughout the United States.
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