ValuEngine downgraded shares of B&G Foods (NYSE:BGS) from a sell rating to a strong sell rating in a research note released on Thursday.
A number of other research analysts have also weighed in on the stock. Royal Bank of Canada reissued a buy rating and set a $39.00 price target on shares of B&G Foods in a research report on Friday, August 3rd. Zacks Investment Research lowered shares of B&G Foods from a hold rating to a sell rating in a research report on Tuesday, August 7th. Credit Suisse Group raised their price target on shares of B&G Foods from $21.00 to $23.00 and gave the company an underperform rating in a research report on Wednesday, October 31st. Finally, Citigroup dropped their price target on shares of B&G Foods from $34.00 to $33.00 and set a buy rating on the stock in a research report on Wednesday, October 31st. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $34.22.
BGS opened at $26.97 on Thursday. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.79 and a current ratio of 1.61. B&G Foods has a fifty-two week low of $22.00 and a fifty-two week high of $39.75. The stock has a market cap of $1.78 billion, a P/E ratio of 12.72 and a beta of 0.52.
B&G Foods (NYSE:BGS) last released its quarterly earnings results on Tuesday, October 30th. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.01. B&G Foods had a net margin of 11.09% and a return on equity of 16.01%. The company had revenue of $422.60 million for the quarter, compared to analyst estimates of $429.53 million. During the same period last year, the firm earned $0.55 earnings per share. The firm’s revenue was up 4.1% on a year-over-year basis. Equities research analysts predict that B&G Foods will post 2.02 EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the business. Tdam USA Inc. raised its position in B&G Foods by 22.7% in the third quarter. Tdam USA Inc. now owns 51,548 shares of the company’s stock worth $1,415,000 after acquiring an additional 9,536 shares during the period. US Bancorp DE raised its position in B&G Foods by 2.1% in the third quarter. US Bancorp DE now owns 98,024 shares of the company’s stock worth $2,691,000 after acquiring an additional 1,988 shares during the period. Public Employees Retirement Association of Colorado increased its stake in shares of B&G Foods by 85.5% in the third quarter. Public Employees Retirement Association of Colorado now owns 10,174 shares of the company’s stock worth $279,000 after purchasing an additional 4,689 shares in the last quarter. Gilman Hill Asset Management LLC increased its stake in shares of B&G Foods by 3.3% in the third quarter. Gilman Hill Asset Management LLC now owns 151,150 shares of the company’s stock worth $4,149,000 after purchasing an additional 4,845 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its stake in shares of B&G Foods by 54.5% in the third quarter. Oppenheimer & Co. Inc. now owns 86,061 shares of the company’s stock worth $2,362,000 after purchasing an additional 30,366 shares in the last quarter. 98.95% 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.
Featured Story: Earnings Reports
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for B&G Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for B&G Foods and related companies with MarketBeat.com's FREE daily email newsletter.