Credit Suisse Keeps Their Hold Rating on Kroger Company (KR)
In a report released yesterday, Judah Frommer from Credit Suisse maintained a Hold rating on Kroger Company (KR), with a price target of $32. The company’s shares closed yesterday at $28.64.
According to TipRanks.com, Frommer is a 3-star analyst with an average return of 3.8% and a 77.3% success rate. Frommer covers the Services sector, focusing on stocks such as Ollie’s Bargain Outlet Holding, Sprouts Farmers, and Dollar General.
Currently, the analyst consensus on Kroger Company is a Moderate Buy with an average price target of $30.70, a 7.2% upside from current levels. In a report released yesterday, Pivotal Research also reiterated a Hold rating on the stock with a $31 price target.
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Based on Kroger Company’s latest earnings release for the quarter ending August 31, the company reported a quarterly revenue of $27.87 billion and net profit of $502 million. In comparison, last year the company earned revenue of $27.75 billion and had a net profit of $393 million.
Based on the recent corporate insider activity of 117 insiders, corporate insider sentiment is negative on the stock.
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The Kroger Co. engages in the operation of retail food and drug stores, multi-department stores, jewelry stores, and convenience stores. It also manufactures and processes some of the food for sale in its supermarkets. The combination food and drug Stores are the primary food store format.