Today, Brokerages Set Bob Evans Farms Inc. (BOBE) Price Target at $51.25

Today, Brokerages Set Bob Evans Farms Inc. (BOBE) Price Target at $51.25

Shares of Bob Evans Farms Inc. (NASDAQ:BOBE) have been given an average rating of “Buy” by the six research firms that are presently covering the company. Three analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $51.25.

Several research firms have recently weighed in on BOBE. Maxim Group decreased their price objective on shares of Bob Evans Farms from $59.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, August 8th. Zacks Investment Research cut shares of Bob Evans Farms from a “hold” rating to a “sell” rating in a research report on Monday, August 29th.

Shares of Bob Evans Farms (NASDAQ:BOBE) opened at 44.96 on Monday. The firm has a 50-day moving average of $41.52 and a 200 day moving average of $40.18. Bob Evans Farms has a 52 week low of $35.63 and a 52 week high of $48.24. The firm has a market capitalization of $888.68 million, a price-to-earnings ratio of 32.05 and a beta of 0.39.

Bob Evans Farms (NASDAQ:BOBE) last posted its quarterly earnings data on Wednesday, August 31st. The company reported $0.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.04. Bob Evans Farms had a net margin of 2.20% and a return on equity of 17.38%. The company earned $306.30 million during the quarter, compared to analysts’ expectations of $310.89 million. During the same period in the prior year, the company posted $0.51 earnings per share. Bob Evans Farms’s revenue for the quarter was down 4.8% compared to the same quarter last year. On average, equities analysts predict that Bob Evans Farms will post $2.10 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of BOBE. Capstone Asset Management Co. raised its position in shares of Bob Evans Farms by 0.3% in the second quarter. Capstone Asset Management Co. now owns 6,929 shares of the company’s stock valued at $263,000 after buying an additional 20 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its position in shares of Bob Evans Farms by 1.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 4,390 shares of the company’s stock valued at $168,000 after buying an additional 70 shares in the last quarter. Martingale Asset Management L P raised its position in shares of Bob Evans Farms by 0.6% in the second quarter. Martingale Asset Management L P now owns 18,419 shares of the company’s stock valued at $700,000 after buying an additional 111 shares in the last quarter. Arizona State Retirement System raised its position in shares of Bob Evans Farms by 2.0% in the second quarter. Arizona State Retirement System now owns 10,312 shares of the company’s stock valued at $391,000 after buying an additional 200 shares in the last quarter. Finally, Livingston Group Asset Management CO operating as Southport Capital Management raised its position in shares of Bob Evans Farms by 4.2% in the third quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 5,819 shares of the company’s stock valued at $223,000 after buying an additional 234 shares in the last quarter. 74.29% of the stock is currently owned by institutional investors and hedge funds.

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