Jefferies analyst Akshay Jagdale maintained a Buy rating on ConAgra Foods (NYSE: CAG) today and set a price target of $44. The company’s shares opened today at $34.21.
Jagdale said:
“CAG reported 1Q adj. EPS of $0.47 (2c or 4% below our & consensus’ estimate). While sales were slightly weaker than expected, 1Q EBIT still beat expectations by ~2% owing to lower SG&A. FY19 guidance (excl. PF) was maintained but 2Q EPS was set ~9% below the Street, implying significantly stronger earnings growth in 2H19 relative to consensus. The more 2H-weighted guide and cautious commentary & timing of the planned secondary will likely weigh on the stock.”
According to TipRanks.com, Jagdale is a 3-star analyst with an average return of 3.5% and a 51.7% success rate. Jagdale covers the Consumer Goods sector, focusing on stocks such as Lamb Weston Holdings, McCormick & Company, and J & J Snack Foods.
ConAgra Foods has an analyst consensus of Strong Buy, with a price target consensus of $44.25.
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ConAgra Foods’ market cap is currently $14.09B and has a P/E ratio of 18.21. The company has a Price to Book ratio of 3.83.
Based on the recent corporate insider activity of 77 insiders, corporate insider sentiment is negative on the stock. Most recently, in July 2018, Ruth Ann Marshall, a Director at CAG sold 3,023 shares for a total of $109,826.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Conagra Brands, Inc. engages in the manufacture and sale of processed and packaged foods. It operates through the following segments: Grocery and Snacks; Refrigerated and Frozen; International; Foodservice; and Commercial Foods. The Grocery and Snacks segment includes branded, shelf stable food products sold in various retail channels in the United States.
