William Blair Downgrades Treehouse Foods, Inc. (THS) to Market Perform
William Blair cut shares of Treehouse Foods, Inc. (NYSE:THS) from an outperform rating to a market perform rating in a research note published on Thursday morning, MarketBeat reports.
Other research analysts have also issued reports about the company. Bank of America Corporation began coverage on Treehouse Foods in a research report on Tuesday, September 19th. They issued a neutral rating and a $68.00 price target on the stock. Credit Suisse Group set a $68.00 price target on Treehouse Foods and gave the stock a neutral rating in a research report on Tuesday, October 31st. Jefferies Group LLC restated a buy rating and issued a $100.00 price target on shares of Treehouse Foods in a research report on Tuesday, September 26th. Vertical Group lowered Treehouse Foods from a buy rating to a hold rating and reduced their price target for the stock from $100.61 to $62.64 in a research report on Friday, August 4th. Finally, Zacks Investment Research lowered Treehouse Foods from a hold rating to a sell rating in a research report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company. The stock has an average rating of Hold and an average target price of $65.55.
Treehouse Foods (THS) opened at $42.16 on Thursday. Treehouse Foods has a 12-month low of $40.26 and a 12-month 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. The stock has a market capitalization of $2,412.19, a price-to-earnings ratio of 14.39, a PEG ratio of 1.49 and a beta of 0.63.
Treehouse Foods (NYSE:THS) last posted its quarterly earnings results on Thursday, November 2nd. The company reported $0.67 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.78 by ($0.11). Treehouse Foods had a positive return on equity of 6.61% and a negative net margin of 4.06%. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the prior year, the business earned $0.70 earnings per share. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. research analysts anticipate that Treehouse Foods will post 3.15 earnings per share for the current fiscal year.
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Treehouse Foods announced that its Board of Directors has approved 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 buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
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 value of $775,818.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 3.50% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in 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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