In a report released today, Akshay Jagdale from Jefferies maintained a Hold rating on Flowers Foods (FLO), with a price target of $19. The company’s shares closed yesterday at $18.84, close to its 52-week low of $18.12.
Jagdale commented:
“3Q operating results missed our/Street estimates by 15%/14%, respectively, and 4Q18 guidance was cut by ~20% owing to execution issues in the face of continued inflationary headwinds and soft category growth trend for certain higher margin products. We are lowering our estimates and continue to be on the sidelines.”
According to TipRanks.com, Jagdale is a 4-star analyst with an average return of 3.3% and a 51.8% success rate. Jagdale covers the Consumer Goods sector, focusing on stocks such as Lamb Weston Holdings, McCormick & Company, and Pilgrim’s Pride.
Currently, the analyst consensus on Flowers Foods is a Moderate Sell with an average price target of $17.50.
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The company has a one-year high of $22.82 and a one-year low of $18.12. Currently, Flowers Foods has an average volume of 1.35M.
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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.
