Zacks Investment Research upgraded shares of TreeHouse Foods (NYSE:THS) from a sell rating to a hold rating in a report published on Thursday morning, Zacks.com reports. They currently have $63.00 price target on the stock.
According to Zacks, “TreeHouse Foods, which has lagged the industry in the past three months, is struggling with sluggish Snacks unit. In fact, persistent weakness in the segment led management to consider divesting this business. In this context, the company has inked a deal with Atlas Holdings LLC. Moreover, troubles in snacking business, had earlier led the company to announce the closure of its Snack nuts and Trail mix plant located at Minnesota. Along with second-quarter earnings release, the company plans to update its guidance for 2019 to reflect the divestiture of the snacking business. Nonetheless, TreeHouse Foods’ focus on its strategy for 2020 bodes well. Additionally, the company is on track with its Structure to Win program, which is aimed at cutting costs. This apart, we commend its focus on refining portfolio through buyouts and innovation.”
Other equities analysts have also recently issued reports about the company. Wells Fargo & Co raised TreeHouse Foods from a market perform rating to an outperform rating and boosted their price target for the stock from $60.00 to $80.00 in a report on Monday, April 29th. BMO Capital Markets raised TreeHouse Foods from a market perform rating to an outperform rating and set a $54.54 price target for the company in a report on Thursday, July 18th. Finally, ValuEngine cut TreeHouse Foods from a buy rating to a hold rating in a report on Tuesday, May 7th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $60.21.
Shares of NYSE THS traded up $0.27 during trading on Thursday, reaching $57.07. The company had a trading volume of 901,346 shares, compared to its average volume of 551,428. TreeHouse Foods has a twelve month low of $41.18 and a twelve month high of $67.88. The stock has a market capitalization of $3.19 billion, a PE ratio of 25.94, a PEG ratio of 2.45 and a beta of 0.73. The business’s 50-day simple moving average is $56.15. The company has a quick ratio of 0.62, a current ratio of 1.71 and a debt-to-equity ratio of 1.24.
TreeHouse Foods (NYSE:THS) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.07. TreeHouse Foods had a positive return on equity of 5.73% and a negative net margin of 3.80%. The company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the previous year, the firm posted $0.37 earnings per share. The business’s revenue for the quarter was down 14.1% compared to the same quarter last year. Equities research analysts expect that TreeHouse Foods will post 2.39 EPS for the current fiscal year.
In related news, SVP Maurice Alkemade sold 2,789 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $52.46, for a total value of $146,310.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Christopher Wilkins sold 1,888 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $58.25, for a total value of $109,976.00. The disclosure for this sale can be found here. Insiders sold 17,398 shares of company stock valued at $982,472 over the last quarter. Insiders own 1.50% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Quadrant Capital Group LLC grew its position in TreeHouse Foods by 287.2% during the first quarter. Quadrant Capital Group LLC now owns 573 shares of the company’s stock valued at $36,000 after acquiring an additional 425 shares during the period. State of Alaska Department of Revenue grew its position in TreeHouse Foods by 3.0% during the second quarter. State of Alaska Department of Revenue now owns 6,051 shares of the company’s stock valued at $327,000 after acquiring an additional 178 shares during the period. Two Sigma Advisers LP purchased a new stake in TreeHouse Foods during the fourth quarter valued at about $1,689,000. Oakbrook Investments LLC purchased a new stake in TreeHouse Foods during the second quarter valued at about $216,000. Finally, Investors Research Corp purchased a new stake in TreeHouse Foods during the first quarter valued at about $77,000.
TreeHouse Foods Company Profile
TreeHouse Foods, Inc operates as a food and beverage manufacturer in the United States, Canada, and Italy. The company operates through Baked Goods, Beverages, Condiments, Meals, and Snacks segments. The Baked Goods segment offers candies, cookies, crackers, in-store bakery products, pita chips, pretzels, refrigerated dough, retail griddle waffles, pancakes, and French toasts.
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