Bob Evans Farms, Inc. (NASDAQ:BOBE) Downgraded by BidaskClub

BidaskClub downgraded shares of Bob Evans Farms, Inc. (NASDAQ:BOBE) from a buy rating to a hold rating in a report issued on Tuesday.

Several other research firms have also recently weighed in on BOBE. CIBC reissued a market perform rating and issued a $77.00 price target on shares of Bob Evans Farms in a research note on Monday, June 5th. Oppenheimer Holdings, Inc. reissued a market perform rating and issued a $77.00 price target on shares of Bob Evans Farms in a research note on Monday, June 5th. Zacks Investment Research raised shares of Bob Evans Farms from a sell rating to a hold rating in a research note on Tuesday, June 27th. Maxim Group increased their price target on shares of Bob Evans Farms from $74.00 to $80.00 and gave the company a buy rating in a research note on Tuesday, June 13th. Finally, William Blair began coverage on shares of Bob Evans Farms in a research note on Wednesday, May 3rd. They issued an outperform rating and a $67.41 price target for the company. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $73.90.

Shares of Bob Evans Farms (BOBE) traded up 0.09% on Tuesday, hitting $69.42. The company’s stock had a trading volume of 254,514 shares. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 11.04 and a beta of 0.55. The stock has a 50-day moving average price of $69.60 and a 200 day moving average price of $63.62. Bob Evans Farms has a one year low of $35.76 and a one year high of $75.34.

Bob Evans Farms (NASDAQ:BOBE) last posted its quarterly earnings results on Thursday, June 15th. The restaurant operator reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.19. Bob Evans Farms had a net margin of 15.15% and a return on equity of 19.58%. The business had revenue of $99.90 million during the quarter, compared to analysts’ expectations of $325.70 million. During the same quarter in the prior year, the company posted $0.48 EPS. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. Equities research analysts predict that Bob Evans Farms will post $2.21 EPS for the current year.

In related news, SVP Thomas Alan Ashworth sold 7,100 shares of the stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $70.70, for a total transaction of $501,970.00. Following the completion of the transaction, the senior vice president now owns 4,367 shares of the company’s stock, valued at approximately $308,746.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.20% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Great West Life Assurance Co. Can boosted its position in Bob Evans Farms by 8.5% in the first quarter. Great West Life Assurance Co. Can now owns 28,545 shares of the restaurant operator’s stock worth $1,851,000 after buying an additional 2,241 shares during the last quarter. Monarch Partners Asset Management LLC bought a new position in Bob Evans Farms during the first quarter worth $3,514,000. State of Alaska Department of Revenue boosted its position in Bob Evans Farms by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 2,180 shares of the restaurant operator’s stock worth $141,000 after buying an additional 40 shares during the last quarter. Ledyard National Bank bought a new position in Bob Evans Farms during the first quarter worth $236,000. Finally, Louisiana State Employees Retirement System boosted its position in Bob Evans Farms by 2.5% in the first quarter. Louisiana State Employees Retirement System now owns 8,100 shares of the restaurant operator’s stock worth $525,000 after buying an additional 200 shares during the last quarter. 78.44% of the stock is owned by hedge funds and other institutional investors.

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.