DA Davidson Boosts Inventure Foods Inc. (SNAK) Price Target to $11.00
Inventure Foods Inc. (NASDAQ:SNAK) had its price objective raised by DA Davidson from $10.00 to $11.00 in a research note published on Friday morning. The firm currently has a buy rating on the stock.
Other analysts have also issued reports about the stock. Wunderlich reissued a buy rating and set a $10.00 target price on shares of Inventure Foods in a research note on Monday, May 23rd. Zacks Investment Research lowered shares of Inventure Foods from a hold rating to a sell rating in a research note on Wednesday, June 29th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $9.60.
Inventure Foods (NASDAQ:SNAK) opened at 9.61 on Friday. The firm has a 50-day moving average of $9.49 and a 200 day moving average of $7.66. Inventure Foods has a one year low of $4.91 and a one year high of $9.82. The company’s market capitalization is $189.04 million.
Inventure Foods (NASDAQ:SNAK) last posted its quarterly earnings data on Wednesday, July 27th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.01 by $0.02. The firm had revenue of $69.30 million for the quarter, compared to analysts’ expectations of $66.40 million. Inventure Foods had a negative return on equity of 7.31% and a negative net margin of 1.98%. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.02) earnings per share. Equities research analysts predict that Inventure Foods will post $0.04 earnings per share for the current fiscal year.
Institutional investors have recently bought and sold shares of the stock. FMR LLC increased its position in Inventure Foods by 3.3% in the second quarter. FMR LLC now owns 1,880,225 shares of the company’s stock valued at $14,683,000 after buying an additional 59,200 shares during the period. State of New Jersey Common Pension Fund D increased its position in Inventure Foods by 2.7% in the second quarter. State of New Jersey Common Pension Fund D now owns 1,130,000 shares of the company’s stock valued at $8,825,000 after buying an additional 30,000 shares during the period. Gabelli Funds LLC increased its position in Inventure Foods by 25.8% in the second quarter. Gabelli Funds LLC now owns 905,539 shares of the company’s stock valued at $7,072,000 after buying an additional 185,539 shares during the period. Royce & Associates LP increased its position in Inventure Foods by 74.3% in the second quarter. Royce & Associates LP now owns 807,072 shares of the company’s stock valued at $6,303,000 after buying an additional 344,010 shares during the period. Finally, Vanguard Group Inc. increased its position in Inventure Foods by 0.7% in the second quarter. Vanguard Group Inc. now owns 794,715 shares of the company’s stock valued at $6,207,000 after buying an additional 5,332 shares during the period. Hedge funds and other institutional investors own 94.52% of the company’s stock.
About Inventure Foods
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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