Credit Suisse analyst Judah Frommer maintained a Hold rating on Sysco Corp (NYSE: SYY) yesterday and set a price target of $68. The company’s shares closed yesterday at $62.29, close to its 52-week high of $64.27.
According to TipRanks.com, Frommer is a 1-star analyst with an average return of -1.3% and a 16.7% success rate. Frommer covers the Services sector, focusing on stocks such as Ollie’s Bargain Outlet Holding, Performance Food Group, and US Food Holdings Corp.
Currently, the analyst consensus on Sysco Corp is Moderate Buy and the average price target is $64.67, representing a 3.8% upside.
In a report issued on May 2, Pivotal Research also maintained a Hold rating on the stock with a $56 price target.
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Based on Sysco Corp’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $14.41 billion and quarterly net profit of $284 million. In comparison, last year the company earned revenue of $13.52 billion and had a net profit of $238 million.
Based on the recent corporate insider activity of 165 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SYY in relation to earlier this year. Most recently, in March 2018, Frank Josh, a Director at SYY bought 340,966 shares for a total of $18,368,486.
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Sysco Corp. engages in selling, marketing, and distribution of food products to restaurants, healthcare and educational facilities, and lodging establishments. It operates through the following segments: U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other. The U.S. Foodservice Operations consists of U.S.
