J & J Snack Foods (NASDAQ:JJSF) Trading 3.6% Higher on Earnings Beat

J & J Snack Foods Corp. (NASDAQ:JJSF) shares rose 3.6% during trading on Tuesday following a better than expected earnings announcement. The stock traded as high as $85.84 and last traded at $87.0670. Approximately 24,372 shares changed hands during trading, a decline of 85% from the average daily volume of 166,883 shares. The stock had previously closed at $84.03.

The company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.24 by $0.34. The company had revenue of $410.24 million for the quarter, compared to the consensus estimate of $424.08 million. J & J Snack Foods had a return on equity of 8.79% and a net margin of 5.24%.The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.60 earnings per share.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on JJSF shares. Wall Street Zen upgraded J & J Snack Foods from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Benchmark decreased their target price on shares of J & J Snack Foods from $150.00 to $130.00 and set a “buy” rating on the stock in a report on Tuesday. Zacks Research raised shares of J & J Snack Foods from a “strong sell” rating to a “hold” rating in a report on Friday, October 24th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of J & J Snack Foods in a research note on Thursday. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, J & J Snack Foods presently has a consensus rating of “Hold” and a consensus target price of $132.50.

Institutional Investors Weigh In On J & J Snack Foods

Large investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC increased its stake in J & J Snack Foods by 902.9% in the second quarter. EverSource Wealth Advisors LLC now owns 351 shares of the company’s stock valued at $40,000 after purchasing an additional 316 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in J & J Snack Foods by 243.5% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 426 shares of the company’s stock valued at $48,000 after buying an additional 302 shares in the last quarter. AlphaQuest LLC bought a new stake in J & J Snack Foods in the 2nd quarter valued at about $59,000. Parallel Advisors LLC raised its stake in J & J Snack Foods by 198.9% during the 2nd quarter. Parallel Advisors LLC now owns 529 shares of the company’s stock worth $60,000 after buying an additional 352 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in J & J Snack Foods by 94.4% in the second quarter. GAMMA Investing LLC now owns 700 shares of the company’s stock worth $79,000 after acquiring an additional 340 shares in the last quarter. 76.04% of the stock is currently owned by institutional investors and hedge funds.

J & J Snack Foods Stock Up 3.6%

The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 20.32 and a beta of 0.39. The stock has a 50 day simple moving average of $93.31 and a 200 day simple moving average of $107.19.

J & J Snack Foods Company Profile

J&J Snack Foods Corp. engages in the manufacturing of nutritional snack foods and distribution of frozen beverages to the food service and retail supermarket industries. It operates through the following segments: Food Service, Retail Supermarkets, and Frozen Beverages. The Food Service segment includes soft pretzels, frozen novelties, churros, handheld products, and baked goods.