Other equities research analysts also recently issued research reports about the company. Bank of America began coverage on TreeHouse Foods in a research report on Tuesday, September 19th. They set a neutral rating and a $68.00 price objective for the company. Credit Suisse Group set a $68.00 target price on shares of TreeHouse Foods and gave the company a neutral rating in a research note on Tuesday, October 31st. Jefferies Group reissued a buy rating and set a $100.00 target price on shares of TreeHouse Foods in a research note on Tuesday, September 26th. BMO Capital Markets cut their target price on shares of TreeHouse Foods to $50.00 and set an outperform rating on the stock in a research note on Friday, November 3rd. Finally, Stifel Nicolaus downgraded shares of TreeHouse Foods from a buy rating to a hold rating and dropped their price target for the stock from $84.00 to $44.00 in a research note on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the stock. TreeHouse Foods currently has a consensus rating of Hold and an average price target of $59.90.
Shares of TreeHouse Foods (NYSE THS) traded up $0.22 during trading hours on Thursday, hitting $49.10. The stock had a trading volume of 509,500 shares, compared to its average volume of 688,487. TreeHouse Foods has a one year low of $40.26 and a one year high of $90.42. The firm has a market cap of $2,780.00, a P/E ratio of -10.89, a PEG ratio of 2.76 and a beta of 0.49. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.16 and a quick ratio of 0.81.
TreeHouse Foods (NYSE:THS) last announced its quarterly earnings data on Thursday, November 2nd. The company reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.11). TreeHouse Foods had a negative net margin of 4.06% and a positive return on equity of 6.61%. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter last year, the company posted $0.70 EPS. TreeHouse Foods’s revenue was down 2.4% on a year-over-year basis. research analysts expect that TreeHouse Foods will post 2.73 earnings per share for the current fiscal year.
TreeHouse Foods announced that its Board of Directors has initiated a share buyback program on Thursday, November 2nd that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually 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 the company’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $49.72, for a total transaction of $570,785.60. Following the completion of the sale, the chief executive officer now directly owns 81,147 shares in the company, valued at $4,034,628.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gary Dale Smith purchased 2,000 shares of the firm’s stock in a transaction on Tuesday, November 7th. The shares were purchased at an average price of $42.64 per share, with a total value of $85,280.00. Following the completion of the acquisition, the director now directly owns 271 shares of the company’s stock, valued at $11,555.44. The disclosure for this purchase can be found here. Insiders sold 36,440 shares of company stock valued at $1,684,179 over the last quarter. 3.50% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Sterling Capital Management LLC boosted its holdings in TreeHouse Foods by 0.5% during the second quarter. Sterling Capital Management LLC now owns 3,047 shares of the company’s stock valued at $249,000 after acquiring an additional 14 shares during the period. Comerica Securities Inc. lifted its stake in shares of TreeHouse Foods by 1.2% in the second quarter. Comerica Securities Inc. now owns 3,757 shares of the company’s stock valued at $307,000 after buying an additional 45 shares during the period. Utah Retirement Systems lifted its stake in shares of TreeHouse Foods by 1.0% in the second quarter. Utah Retirement Systems now owns 10,100 shares of the company’s stock valued at $825,000 after buying an additional 100 shares during the period. M&T Bank Corp lifted its stake in shares of TreeHouse Foods by 4.3% in the second quarter. M&T Bank Corp now owns 4,723 shares of the company’s stock valued at $386,000 after buying an additional 194 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of TreeHouse Foods by 11.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,982 shares of the company’s stock valued at $162,000 after buying an additional 199 shares during the period.
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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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