Credit Suisse analyst Judah Frommer maintained a Buy rating on Sysco (SYY) on March 31 and set a price target of $67.00. The company’s shares closed last Thursday at $40.93.
According to TipRanks.com, Frommer is a 2-star analyst with an average return of -0.2% and a 62.0% success rate. Frommer covers the Services sector, focusing on stocks such as Ollie’s Bargain Outlet Holding, Performance Food Group, and US Foods Holding.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Sysco with a $76.00 average price target, which is an 85.4% upside from current levels. In a report issued on March 26, Jefferies also upgraded the stock to Buy with a $57.00 price target.
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Based on Sysco’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $15.03 billion and net profit of $383 million. In comparison, last year the company earned revenue of $14.77 billion and had a net profit of $267 million.
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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, Other, and Corporate. The U.S. Foodservice Operations consists of U.S. Broadline operations, custom-cut meat and seafood companies, FreshPoint, and European Imports. The International Foodservice Operations segment includes broadline operations in Canada and Europe, including the Brakes Group, Bahamas, Mexico, Costa Rica, and Panama. The SYGMA segment represents its customized distribution subsidiary. The Other segment covers hotel supply operations and Sysco Labs, which includes suite of technology solutions. The company was founded by John F. Baugh in 1969 and is headquartered in Houston, TX.
