In a report released today, Akshay Jagdale from Jefferies maintained a Hold rating on J & J Snack Foods (JJSF), with a price target of $145. The company’s shares closed yesterday at $150.50.
Jagdale observed:
“1Q19 EBIT beat our and consensus estimate by 12% & 7%, albeit from a low base. Improved pricing and manufacturing efficiencies drove the beat. Organic sales growth of ~2% is still below historical levels and was aided ~150 bps by certain non-recurring events. Until we see a pathway to sustainable 3-5% sales growth and consistent margins expansion, we prefer to remain on the sidelines especially given the stock’s premium valuation.”
According to TipRanks.com, Jagdale is a 3-star analyst with an average return of 1.0% and a 50.2% success rate. Jagdale covers the Consumer Goods sector, focusing on stocks such as Lamb Weston Holdings, McCormick & Company, and Conagra Brands Inc.
The word on The Street in general, suggests a Hold analyst consensus rating for J & J Snack Foods with a $135 average price target.
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Based on J & J Snack Foods’ latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $17.53 million. In comparison, last year the company had a net profit of $36.25 million.
Based on the recent corporate insider activity of 15 insiders, corporate insider sentiment is neutral on the stock.
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J&J Snack Foods Corp. engages in the manufacture of nutritional snack foods and distribution of frozen beverages to the food service and retail supermarket industries. It operates through the following segment: Food Service, Retail Supermarkets, and Frozen Beverages.
