BMO Capital Markets Lowers Treehouse Foods, Inc. (THS) to Market Perform
Treehouse Foods, Inc. (NYSE:THS) was downgraded by BMO Capital Markets from an “outperform” rating to a “market perform” rating in a report issued on Wednesday.
Several other equities research analysts have also recently commented on THS. Bank of America Corporation lowered their target price on Treehouse Foods from $55.00 to $47.00 and set a “neutral” rating for the company in a research note on Tuesday. Jefferies Group LLC lowered their target price on Treehouse Foods from $90.00 to $68.00 and set a “buy” rating for the company in a research note on Monday, November 6th. TheStreet cut Treehouse Foods from a “c-” rating to a “d+” rating in a research note on Friday, November 10th. Vertical Group cut Treehouse Foods from a “buy” rating to a “hold” rating and lowered their target price for the company from $100.61 to $62.64 in a research note on Friday, August 4th. Finally, Wells Fargo & Company lowered their target price on Treehouse Foods from $43.00 to $41.00 and set a “market perform” rating for the company in a research note on Tuesday. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $59.59.
Shares of Treehouse Foods (NYSE:THS) opened at $42.00 on Wednesday. The company has a market capitalization of $2,475.13, a price-to-earnings ratio of 14.77, a PEG ratio of 2.20 and a beta of 0.63. Treehouse Foods has a 52 week low of $40.26 and a 52 week high of $90.42. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.16 and a quick ratio of 0.81.
Treehouse Foods (NYSE:THS) last released its earnings results on Thursday, November 2nd. The company reported $0.67 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.78 by ($0.11). The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.52 billion. Treehouse Foods had a negative net margin of 4.06% and a positive return on equity of 6.61%. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the business posted $0.70 earnings per share. sell-side analysts predict that Treehouse Foods will post 2.72 earnings per share for the current fiscal year.
Treehouse Foods declared that its board has authorized a stock buyback program on Thursday, November 2nd that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.
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In other Treehouse Foods news, CEO Sam K. Reed sold 11,480 shares of Treehouse Foods stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $67.58, for a total transaction of $775,818.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Gary Dale Smith bought 2,000 shares of Treehouse Foods stock in a transaction on Tuesday, November 7th. The shares were acquired at an average price of $42.64 per share, for a total transaction of $85,280.00. Following the completion of the acquisition, the director now owns 271 shares of the company’s stock, valued at approximately $11,555.44. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 34,440 shares of company stock worth $2,027,712. Corporate insiders own 3.50% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Citigroup Inc. raised its stake in shares of Treehouse Foods by 120.6% in the 2nd quarter. Citigroup Inc. now owns 1,286 shares of the company’s stock valued at $105,000 after purchasing an additional 703 shares during the period. Creative Planning raised its stake in shares of Treehouse Foods by 28.8% in the 2nd quarter. Creative Planning now owns 1,379 shares of the company’s stock valued at $113,000 after purchasing an additional 308 shares during the period. Parallax Volatility Advisers L.P. raised its stake in shares of Treehouse Foods by 30.9% in the 2nd quarter. Parallax Volatility Advisers L.P. now owns 1,874 shares of the company’s stock valued at $153,000 after purchasing an additional 442 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Treehouse Foods by 11.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,982 shares of the company’s stock valued at $162,000 after purchasing an additional 199 shares during the period. Finally, State of Alaska Department of Revenue raised its stake in shares of Treehouse Foods by 6.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 2,259 shares of the company’s stock valued at $184,000 after purchasing an additional 141 shares during the period.
Treehouse Foods Company Profile
TreeHouse Foods, Inc is a consumer packaged food and beverage manufacturer. The Company’s segments include North American Retail Grocery, Food Away From Home, and Industrial and Export. The Company manufactures a range of shelf stable, refrigerated, fresh and frozen products. Its product categories include beverages, salad dressings, snack nuts, beverage enhancers, pickles, sauces, cereals, pasta and dry dinners, cookies and crackers, retail bakery, aseptic products, jams and other products.
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