DA Davidson Boosts Inventure Foods Inc. (SNAK) Price Target to $11.00
Several other equities analysts have also recently issued reports on the company. Zacks Investment Research upgraded Inventure Foods from a sell rating to a hold rating in a research note on Tuesday, July 5th. Wunderlich reiterated a buy rating and issued a $10.00 price objective on shares of Inventure Foods in a research note on Monday, May 23rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $9.60.
Inventure Foods (NASDAQ:SNAK) opened at 9.61 on Friday. The stock’s 50 day moving average is $9.49 and its 200 day moving average is $7.66. Inventure Foods has a 12-month low of $4.91 and a 12-month high of $9.82. The firm’s market cap is $189.04 million.
Inventure Foods (NASDAQ:SNAK) last announced its earnings results on Wednesday, July 27th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by $0.02. Inventure Foods had a negative net margin of 1.98% and a negative return on equity of 7.31%. The firm had revenue of $69.30 million for the quarter, compared to analysts’ expectations of $66.40 million. During the same quarter last year, the business earned ($0.02) earnings per share. The business’s revenue was up 4.4% compared to the same quarter last year. On average, equities research analysts expect that Inventure Foods will post $0.04 EPS for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SNAK. Rhumbline Advisers raised its position in Inventure Foods by 0.5% in the second quarter. Rhumbline Advisers now owns 18,546 shares of the company’s stock valued at $145,000 after buying an additional 90 shares during the period. Wedbush Securities Inc. raised its position in Inventure Foods by 2.6% in the second quarter. Wedbush Securities Inc. now owns 31,295 shares of the company’s stock valued at $244,000 after buying an additional 800 shares during the period. State Street Corp raised its position in Inventure Foods by 0.7% in the first quarter. State Street Corp now owns 200,919 shares of the company’s stock valued at $1,135,000 after buying an additional 1,418 shares during the period. Geode Capital Management LLC raised its position in Inventure Foods by 2.0% in the first quarter. Geode Capital Management LLC now owns 126,354 shares of the company’s stock valued at $713,000 after buying an additional 2,533 shares during the period. Finally, BlackRock Investment Management LLC raised its position in Inventure Foods by 6.2% in the second quarter. BlackRock Investment Management LLC now owns 73,237 shares of the company’s stock valued at $572,000 after buying an additional 4,260 shares during the period. 94.52% of the stock is currently owned by institutional investors.
Inventure Foods Company Profile
Inventure Foods, Inc is a marketer and manufacturer of healthy/natural and indulgent specialty snack food brands. The Company operates in two segments: frozen products and snack products. The frozen products segment produces frozen fruits, vegetables, beverages and frozen desserts for sale primarily to groceries, club stores and mass merchandisers.
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