CPB (NYSE:CPF) Rating Lowered to "Hold" at Zacks Research

Key Points

• Zacks Research downgraded CPB from “strong buy” to “hold,” though the stock retains a “Moderate Buy” consensus rating and a $39.33 average price target.
• CPB shares opened at $37.80, down 0.5%, with a market capitalization of approximately $973 million and a 52-week range of $27.38 to $40.99.
• The company exceeded quarterly expectations, reporting $0.80 in earnings per share versus a $0.78 estimate and $77.45 million in revenue versus a $75.69 million consensus forecast.

CPB (NYSE:CPF - Get Free Report) was downgraded by equities researchers at Zacks Research from a "strong-buy" rating to a "hold" rating in a report released on Wednesday,Zacks.com reports.

CPF has been the subject of a number of other research reports. Weiss Ratings raised shares of CPB from a "buy (b+)" rating to a "buy (a-)" rating in a report on Thursday, June 18th. Benchmark initiated coverage on shares of CPB in a report on Thursday, July 9th. They issued a "buy" rating and a $44.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, CPB presently has a consensus rating of "Moderate Buy" and a consensus target price of $39.33.

CPB Trading Down 0.5%

Shares of CPF opened at $37.80 on Wednesday. CPB has a 52-week low of $27.38 and a 52-week high of $40.99. The stock has a market cap of $973.26 million, a PE ratio of 12.12 and a beta of 0.85. The firm's fifty day moving average is $38.40 and its two-hundred day moving average is $35.26. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13.

CPB (NYSE:CPF - Get Free Report) last posted its quarterly earnings results on Friday, July 24th. The financial services provider reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.02. The firm had revenue of $77.45 million for the quarter, compared to the consensus estimate of $75.69 million. CPB had a net margin of 22.52% and a return on equity of 14.20%. During the same period last year, the firm posted $0.67 earnings per share. Research analysts forecast that CPB will post 3.32 earnings per share for the current fiscal year.

Institutional Trading of CPB

A number of large investors have recently modified their holdings of CPF. Quarry LP increased its stake in shares of CPB by 3,169.6% during the third quarter. Quarry LP now owns 1,504 shares of the financial services provider's stock worth $46,000 after buying an additional 1,458 shares during the period. Royal Bank of Canada increased its stake in CPB by 30.0% in the fourth quarter. Royal Bank of Canada now owns 1,630 shares of the financial services provider's stock valued at $51,000 after purchasing an additional 376 shares during the last quarter. CIBC Private Wealth Group LLC acquired a new stake in CPB during the third quarter worth approximately $62,000. iSAM Funds UK Ltd purchased a new stake in shares of CPB during the 3rd quarter worth approximately $62,000. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of CPB by 35.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,635 shares of the financial services provider's stock valued at $84,000 after buying an additional 690 shares in the last quarter. Hedge funds and other institutional investors own 88.42% of the company's stock.

CPB Company Profile

Charoen Pokphand Foods Public Company Limited NYSE: CPF is a Thailand‐based integrated agro‐industrial and food conglomerate. Headquartered in Bangkok, the company is a subsidiary of the Charoen Pokphand Group and has grown into one of the world's leading producers of livestock feed, meat and seafood products. CPF's businesses span animal feed milling, animal breeding and hatchery operations, meat and seafood processing, and the distribution of fresh, frozen and value‐added food products.

CPF's product portfolio includes poultry, swine and aquaculture feed; fresh and frozen chicken and pork; shrimp and other seafood; as well as ready‐to‐eat and ready‐to‐cook food items.

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