Jefferies analyst Akshay Jagdale maintained a Buy rating on Conagra Brands Inc (CAG) today and set a price target of $44. The company’s shares opened today at $24.55.
Jagdale commented:
“3Q EBIT beat handily & FY19 guidance was maintained. However, quality was relatively weak – organic sales growth & GMs are coming in lower than expected but this is being offset by lower SG&A. Lower sales/GMs raise concerns about returns on brand investments with retailers. PF sales slightly below expectations but margins expected to be towards the high end of guidance range.”
According to TipRanks.com, Jagdale is a 4-star analyst with an average return of 3.1% and a 51.4% success rate. Jagdale covers the Consumer Goods sector, focusing on stocks such as Lamb Weston Holdings, McCormick & Company, and J & J Snack Foods.
Currently, the analyst consensus on Conagra Brands Inc is a Strong Buy with an average price target of $32.40.
See today’s analyst top recommended stocks >>
Conagra Brands Inc’s market cap is currently $11.12B and has a P/E ratio of 12.43. The company has a Price to Book ratio of 1.54.
Based on the recent corporate insider activity of 73 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 CAG in relation to earlier this year. Earlier this month, Richard Lenny, a Director at CAG bought 7,053 shares for a total of $80,193.
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.
