In a report released today, Timothy Ramey from Pivotal Research maintained a Sell rating on Flowers Foods (FLO), with a price target of $16. The company’s shares closed yesterday at $19.88.
Ramey observed:
“We have lost confidence that the company can improve its financial performance meaningfully – this year is just a repeat of so many before – set expectations high and disappoint in the 2H. We see little evidence that the company is not in secular decline.”
According to TipRanks.com, Ramey is a 5-star analyst with an average return of 10.1% and a 60.9% success rate. Ramey covers the Consumer Goods sector, focusing on stocks such as Constellation Brands Inc, Post Holdings Inc, and Brown-Forman B.
Flowers Foods has an analyst consensus of Hold, with a price target consensus of $17.75.
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The company has a one-year high of $22.82 and a one-year low of $17.78. Currently, Flowers Foods has an average volume of 1.42M.
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Flowers Foods, Inc. engages in the manufacture and sale of bakery products. It operates through the Direct-Store-Delivery (DSD) and Warehouse Delivery segments. The DSD segment produces fresh breads, buns, rolls, tortillas, and cakes sold by a network of independent distributors to retail and foodservice customers.
