RBC Capital Sticks to Their Buy Rating for B&G Foods (BGS)


RBC Capital analyst David Palmer reiterated a Buy rating on B&G Foods (NYSE: BGS) yesterday and set a price target of $39. The company’s shares closed yesterday at $31.15.

According to TipRanks.com, Palmer is a 5-star analyst with an average return of 9.8% and a 69.3% success rate. Palmer covers the Consumer Goods sector, focusing on stocks such as Mondelez International, Hain Celestial, and Pinnacle Foods.

Currently, the analyst consensus on B&G Foods is a Moderate Buy with an average price target of $30.25.

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Based on B&G Foods’ latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $7.98 million. In comparison, last year the company had a net profit of $22.06 million.

Based on the recent corporate insider activity of 29 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 BGS in relation to earlier this year.

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.

B&G Foods, Inc. engages in the manufacture, sell, and distribution of shelf-stable foods and household products. Its products include frozen and canned vegetables, hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, and wine vinegar.

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