B&G Foods (NYSE:BGS) had its target price hoisted by analysts at Credit Suisse Group from $21.00 to $23.00 in a report released on Wednesday. The firm currently has an “underperform” rating on the stock. Credit Suisse Group’s target price would suggest a potential downside of 11.23% from the stock’s previous close.
A number of other equities analysts have also weighed in on BGS. Citigroup lowered their target price on B&G Foods from $34.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday. ValuEngine upgraded B&G Foods from a “strong sell” rating to a “sell” rating in a research note on Friday, October 19th. Zacks Investment Research lowered B&G Foods from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $39.00 target price on shares of B&G Foods in a research note on Friday, August 3rd. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $34.22.
Shares of NYSE BGS opened at $25.91 on Wednesday. The company has a market cap of $1.79 billion, a PE ratio of 13.10 and a beta of 0.47. The company has a debt-to-equity ratio of 2.51, a quick ratio of 1.31 and a current ratio of 3.73. B&G Foods has a 1-year low of $22.00 and a 1-year high of $39.75.
B&G Foods (NYSE:BGS) last announced its earnings results on Tuesday, October 30th. The company reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.01. The company had revenue of $422.60 million for the quarter, compared to analyst estimates of $429.53 million. B&G Foods had a return on equity of 15.88% and a net margin of 11.09%. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.55 earnings per share. Equities research analysts predict that B&G Foods will post 2.02 earnings per share for the current year.
A number of large investors have recently modified their holdings of BGS. Macquarie Group Ltd. acquired a new stake in B&G Foods during the second quarter worth approximately $185,000. Cubist Systematic Strategies LLC acquired a new stake in B&G Foods during the second quarter worth approximately $205,000. First Allied Advisory Services Inc. acquired a new stake in B&G Foods during the second quarter worth approximately $216,000. Selway Asset Management acquired a new stake in B&G Foods during the second quarter worth approximately $217,000. Finally, Sei Investments Co. grew its position in B&G Foods by 100.5% during the first quarter. Sei Investments Co. now owns 9,250 shares of the company’s stock worth $219,000 after buying an additional 4,637 shares in the last quarter. 98.88% of the stock is currently owned by institutional investors and hedge funds.
About B&G Foods
B&G Foods, Inc manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods in the United States, Canada, and Puerto Rico. Its products include frozen and canned vegetables, hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegars, maple syrups, molasses, salad dressings, pizza crusts, Mexican-style sauces, dry soups, taco shells and kits, salsas, pickles, peppers, tomato-based products, puffed corn and rice snacks, cookies and crackers, nut clusters, and other specialty products.
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