Pivotal Research analyst Ajay Jain maintained a Hold rating on Kroger Company (NYSE: KR) today and set a price target of $31. The company’s shares opened today at $31.50, close to its 52-week high of $32.74.
“We moved to the sidelines recently on valuation. Subsequent to the widespread disappointment last year when mgt. withdrew long term guidance, the stock’s roller coaster ride reflects a much stronger competitive position for Kroger at this time. For us to have a more favorable view on the stock, however, we need conviction that Kroger is on a sustainable path to deliver continued upside. Right now, we lack that level of conviction.”
According to TipRanks.com, Jain is a 4-star analyst with an average return of 8.7% and a 54.4% success rate. Jain covers the Services sector, focusing on stocks such as Walgreens Boots Alliance, Performance Food Group, and US Food Holdings Corp.
Currently, the analyst consensus on Kroger Company is a Moderate Buy with an average price target of $30.93, implying a -1.8% downside from current levels. In a report issued on September 5, Oppenheimer also assigned a Hold rating to the stock with a $32 price target.
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Kroger Company’s market cap is currently $24.99B and has a P/E ratio of 7.55. The company has a Price to Book ratio of 3.58.
Based on the recent corporate insider activity of 110 insiders, corporate insider sentiment is negative on the stock. Most recently, in July 2018, Susan Kropf, a Director at KR sold 13,000 shares for a total of $369,460.
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The Kroger Co. engages in the operation of retail food and drug stores, multi-department stores, jewelry stores, and convenience stores. It also manufactures and processes some of the food for sale in its supermarkets. The combination food and drug Stores are the primary food store format.