Bob Evans Farms, Inc. (BOBE) Earns “Buy” Rating from Maxim Group
Maxim Group reiterated their buy rating on shares of Bob Evans Farms, Inc. (NASDAQ:BOBE) in a report published on Wednesday morning. They currently have a $77.00 target price on the restaurant operator’s stock.
“Bob Evans Farms (BOBE) reported F1Q18 (July) pro forma EPS of $0.37, which were in line with our $0.37 estimate and the $0.37 Street mean. Margins missed our estimates, though this was offset by strong top-line growth, which was highlighted by 18% y/y growth in the side dish business excluding the Pineland Farms acquisition.”,” Maxim Group’s analyst commented.
Other research analysts have also recently issued reports about the company. BidaskClub raised Bob Evans Farms from a hold rating to a buy rating in a research note on Wednesday, August 2nd. Berenberg Bank began coverage on Bob Evans Farms in a research note on Wednesday, July 19th. They set a buy rating and a $77.00 price objective on the stock. Zacks Investment Research raised Bob Evans Farms from a sell rating to a hold rating in a research note on Friday, June 9th. CIBC reaffirmed a market perform rating and set a $77.00 price objective on shares of Bob Evans Farms in a research note on Monday, June 5th. Finally, Oppenheimer Holdings, Inc. reaffirmed a market perform rating and set a $77.00 price objective on shares of Bob Evans Farms in a research note on Monday, June 5th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Bob Evans Farms presently has an average rating of Hold and an average target price of $73.77.
Shares of Bob Evans Farms (NASDAQ:BOBE) opened at 67.97 on Wednesday. Bob Evans Farms has a 52-week low of $36.88 and a 52-week high of $75.34. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 10.81 and a beta of 0.55. The firm has a 50 day moving average price of $66.91 and a 200-day moving average price of $66.04.
Bob Evans Farms (NASDAQ:BOBE) last announced its quarterly earnings data on Wednesday, August 30th. The restaurant operator reported $0.37 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.37. Bob Evans Farms had a return on equity of 19.52% and a net margin of 19.49%. The firm had revenue of $109.30 million for the quarter, compared to analysts’ expectations of $102.29 million. During the same period last year, the firm earned $0.48 earnings per share. The company’s revenue for the quarter was up 27.2% compared to the same quarter last year. Equities research analysts anticipate that Bob Evans Farms will post $2.19 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Monday, September 4th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $1.36 annualized dividend and a yield of 2.00%. Bob Evans Farms’s payout ratio is 22.08%.
In other Bob Evans Farms news, SVP Thomas Alan Ashworth sold 7,100 shares of Bob Evans Farms stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $70.70, for a total transaction of $501,970.00. Following the sale, the senior vice president now directly owns 4,367 shares of the company’s stock, valued at approximately $308,746.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.20% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. purchased a new stake in Bob Evans Farms during the first quarter valued at $105,000. Baird Financial Group Inc. purchased a new stake in Bob Evans Farms during the first quarter valued at $582,000. State of Tennessee Treasury Department boosted its stake in Bob Evans Farms by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 18,600 shares of the restaurant operator’s stock valued at $1,207,000 after buying an additional 2,807 shares during the last quarter. Sei Investments Co. purchased a new stake in Bob Evans Farms during the first quarter valued at $818,000. Finally, Karp Capital Management Corp purchased a new stake in Bob Evans Farms during the first quarter valued at $321,000. 77.67% of the stock is currently owned by institutional investors and hedge funds.
Bob Evans Farms Company Profile
Bob Evans Farms, Inc (Bob Evans) is a producer and distributor of refrigerated potato, pasta and vegetable-based side dishes, pork sausage, and a variety of refrigerated and frozen food items under the Bob Evans and Owens or Country Creek brand names. The Company’s food products are distributed to customers throughout the United States.
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