Flowers Foods (NYSE:FLO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday, February 19th. The brokerage currently has a $23.00 target price on the stock. Zacks Investment Research‘s target price indicates a potential upside of 7.83% from the company’s current price.
According to Zacks, “Flowers Foods is one of the largest producers of packaged bakery foods in the United States. The company operates highly efficient bakeries that produce a wide range of bakery food for retail and foodservice customers in the U.S. The company maintains some of the most efficient and technologically advanced bakeries in the country and has a team of outstanding employees and associates. Each bakery operates as a separate subsidiary of the company and has its own president, human resources director, and controller. “
FLO has been the subject of several other research reports. TheStreet raised shares of Flowers Foods from a “c+” rating to a “b” rating in a report on Wednesday, February 7th. Pivotal Research raised shares of Flowers Foods from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a report on Thursday, November 9th. SunTrust Banks reissued a “hold” rating and set a $20.00 price target on shares of Flowers Foods in a report on Friday, November 10th. BMO Capital Markets boosted their price target on shares of Flowers Foods from $19.00 to $20.00 and gave the company a “market perform” rating in a report on Wednesday, November 15th. Finally, Stephens reissued a “hold” rating and set a $20.00 price target on shares of Flowers Foods in a report on Friday, February 9th. Four analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Flowers Foods currently has a consensus rating of “Buy” and a consensus price target of $21.33.
Flowers Foods (NYSE:FLO) last released its quarterly earnings data on Wednesday, February 7th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. Flowers Foods had a net margin of 3.83% and a return on equity of 15.17%. The firm had revenue of $873.60 million during the quarter, compared to the consensus estimate of $860.34 million. During the same quarter in the previous year, the company posted $0.16 earnings per share. The firm’s revenue was up .6% on a year-over-year basis. research analysts predict that Flowers Foods will post 1.07 EPS for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Xact Kapitalforvaltning AB bought a new stake in shares of Flowers Foods during the fourth quarter valued at about $342,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new stake in shares of Flowers Foods during the fourth quarter valued at about $359,000. MetLife Investment Advisors LLC bought a new stake in shares of Flowers Foods during the fourth quarter valued at about $2,254,000. Gotham Asset Management LLC raised its stake in shares of Flowers Foods by 262.3% during the fourth quarter. Gotham Asset Management LLC now owns 544,437 shares of the company’s stock valued at $10,513,000 after purchasing an additional 394,167 shares in the last quarter. Finally, Vident Investment Advisory LLC raised its stake in shares of Flowers Foods by 101.4% during the fourth quarter. Vident Investment Advisory LLC now owns 39,323 shares of the company’s stock valued at $759,000 after purchasing an additional 19,794 shares in the last quarter. Institutional investors and hedge funds own 63.05% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “Flowers Foods (NYSE:FLO) Lifted to Buy at Zacks Investment Research” was first published by StockNewsTimes and is owned by of StockNewsTimes. If you are reading this news story on another domain, it was copied illegally and republished in violation of US and international copyright law. The legal version of this news story can be accessed at https://stocknewstimes.com/2018/03/14/flowers-foods-flo-upgraded-to-buy-by-zacks-investment-research.html.
About Flowers Foods
Flowers Foods, Inc is a producer and marketer of packaged bakery products. The Company operates in two segments: direct-store-delivery segment (DSD Segment) and warehouse delivery segment (Warehouse Segment). The DSD segment produces fresh breads, buns, rolls, tortillas and snack cakes sold primarily by a network of independent distributors to retail and foodservice customers in the areas of the United States: East, South, Southwest, California, and select markets in the Midwest, Pacific Northwest, Nevada, and Colorado.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Flowers Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flowers Foods and related companies with MarketBeat.com's FREE daily email newsletter.