B&G Foods Receives a Hold from Barclays

Barclays analyst Andrew Lazar maintained a Hold rating on B&G Foods (NYSE: BGS) on May 4 and set a price target of $29. The company’s shares closed on Friday at $24.95, close to its 52-week low of $22.35.

According to TipRanks.com, Lazar is a 4-star analyst with an average return of 7.1% and a 65.0% success rate. Lazar covers the Consumer Goods sector, focusing on stocks such as Mondelez International, Post Holdings Inc, and TreeHouse Foods.

Currently, the analyst consensus on B&G Foods is Moderate Buy and the average price target is $30.75, representing a 23.2% upside.

In a report issued on May 4, Credit Suisse also maintained a Hold rating on the stock with a $21 price target.

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Based on B&G Foods’ latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $432 million and quarterly net profit of $20.55 million. In comparison, last year the company earned revenue of $418 million and had a net profit of $32.76 million.

Based on the recent corporate insider activity of 27 insiders, corporate insider sentiment is neutral on the stock.

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B&G Foods, Inc. engages in the manufacture, sell, and distribution of shelf-stable foods and household products. Its products include frozen and canned vegetables, hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, and wine vinegar.