Pivotal Research analyst Ajay Jain reiterated a Sell rating on Sysco Corp (NYSE: SYY) today and set a price target of $62. The company’s shares closed yesterday at $72.75, close to its 52-week high of $74.05.
Jain wrote:
“We’ve further assumed $2.9 billion in adj. operating income and 4.6% operating margin by FY20.”
According to TipRanks.com, Jain is a 4-star analyst with an average return of 7.7% and a 53.2% success rate. Jain covers the Services sector, focusing on stocks such as Walgreens Boots Alliance, US Food Holdings Corp, and United Natural Foods.
The word on The Street in general, suggests a Hold analyst consensus rating for Sysco Corp with a $70 average price target.
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The company has a one-year high of $74.05 and a one-year low of $50.83. Currently, Sysco Corp has an average volume of 2.27M.
Based on the recent corporate insider activity of 165 insiders, corporate insider sentiment is negative on the stock.
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Sysco Corp. engages in selling, marketing, and distribution of food products to restaurants, healthcare and educational facilities, and lodging establishments. It operates through the following segments: U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other.
