Treehouse Foods, Inc. (NYSE:THS) had its target price boosted by equities researchers at J P Morgan Chase & Co from $38.00 to $39.00 in a research note issued to investors on Wednesday. The brokerage presently has an “underweight” rating on the stock. J P Morgan Chase & Co’s price target points to a potential downside of 9.01% from the company’s current price.
Several other equities research analysts also recently weighed in on THS. BMO Capital Markets reaffirmed a “buy” rating on shares of Treehouse Foods in a report on Tuesday, July 18th. Zacks Investment Research downgraded Treehouse Foods from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Susquehanna Bancshares Inc reissued a “neutral” rating and issued a $78.00 target price (down previously from $108.00) on shares of Treehouse Foods in a report on Friday, August 4th. UBS AG downgraded Treehouse Foods from a “positive” rating to a “neutral” rating in a report on Friday, August 4th. Finally, Vertical Research downgraded Treehouse Foods from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $59.51.
Shares of Treehouse Foods (NYSE THS) traded up $0.99 during midday trading on Wednesday, hitting $42.86. The company had a trading volume of 1,576,000 shares, compared to its average volume of 786,353. The company has a current ratio of 2.16, a quick ratio of 0.81 and a debt-to-equity ratio of 1.01. Treehouse Foods has a 52-week low of $40.26 and a 52-week high of $90.42. The firm has a market capitalization of $2,460.00, a P/E ratio of 14.29, a PEG ratio of 2.33 and a beta of 0.63.
Treehouse Foods (NYSE:THS) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $0.67 earnings per share 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 for the quarter, compared to analyst estimates of $1.52 billion. During the same period in the prior year, the business earned $0.70 earnings per share. Treehouse Foods’s revenue for the quarter was down 2.4% compared to the same quarter last year. research analysts expect that Treehouse Foods will post 2.72 EPS for the current year.
Treehouse Foods announced that its board has approved a share repurchase program on Thursday, November 2nd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.
In related 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 transaction of $775,818.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gary Dale Smith acquired 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The shares were bought at an average price of $42.64 per share, with a total value of $85,280.00. Following the transaction, the director now owns 271 shares in the company, valued at approximately $11,555.44. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 34,440 shares of company stock valued at $2,027,712. 3.50% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. Citigroup Inc. increased its position in Treehouse Foods by 120.6% during the 2nd quarter. Citigroup Inc. now owns 1,286 shares of the company’s stock worth $105,000 after purchasing an additional 703 shares in the last quarter. Creative Planning increased its position in Treehouse Foods by 28.8% during the 2nd quarter. Creative Planning now owns 1,379 shares of the company’s stock worth $113,000 after purchasing an additional 308 shares in the last quarter. Parallax Volatility Advisers L.P. increased its position in Treehouse Foods by 30.9% during the 2nd quarter. Parallax Volatility Advisers L.P. now owns 1,874 shares of the company’s stock worth $153,000 after purchasing an additional 442 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Treehouse Foods by 11.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,982 shares of the company’s stock worth $162,000 after purchasing an additional 199 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its position in Treehouse Foods by 6.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 2,259 shares of the company’s stock worth $184,000 after purchasing an additional 141 shares in the last quarter.
About Treehouse Foods
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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