J & J Snack Foods (NASDAQ:JJSF) Cut to Strong Sell at Zacks Research

Key Points

• Zacks Research downgraded J & J Snack Foods from “hold” to “strong sell.” Other analyst views are mixed; MarketBeat reports an average “hold” rating and a $110.50 price target.
• In its latest reported quarter, the company earned $1.96 per share, beating estimates of $1.70, while revenue of $425.96 million slightly missed expectations and fell 6.3% year over year.
• JJSF shares opened at $91.01 and were reported up 4.6%; the stock’s 52-week range is $68.87 to $98.63.

J & J Snack Foods (NASDAQ:JJSF - Get Free Report) was downgraded by analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a note issued to investors on Tuesday, Zacks reports.

A number of other brokerages have also issued reports on JJSF. Weiss Ratings restated a "sell (d+)" rating on shares of J & J Snack Foods in a research note on Monday, September 21st. Jefferies Financial Group upgraded shares of J & J Snack Foods from a "hold" rating to a "buy" rating and increased their price objective for the company from $81.00 to $101.00 in a research note on Thursday, August 6th. Two research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, J & J Snack Foods currently has an average rating of "Hold" and an average price target of $110.50.

J & J Snack Foods Trading Up 4.6%

Shares of JJSF stock opened at $91.01 on Tuesday. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 35.00 and a beta of 0.41. The company has a quick ratio of 1.47, a current ratio of 2.34 and a debt-to-equity ratio of 0.03. J & J Snack Foods has a fifty-two week low of $68.87 and a fifty-two week high of $98.63. The firm's 50 day moving average price is $82.04 and its two-hundred day moving average price is $81.44.

J & J Snack Foods (NASDAQ:JJSF - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.26. The company had revenue of $425.96 million during the quarter, compared to the consensus estimate of $427.65 million. J & J Snack Foods had a return on equity of 8.93% and a net margin of 3.23%. The company's revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.00 earnings per share. On average, analysts anticipate that J & J Snack Foods will post 3.87 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Heritage Family Offices LLP bought a new stake in shares of J & J Snack Foods during the third quarter valued at approximately $39,000. Bridge City Capital LLC grew its stake in J & J Snack Foods by 21.7% during the third quarter. Bridge City Capital LLC now owns 36,461 shares of the company's stock worth $2,787,000 after buying an additional 6,510 shares during the last quarter. ProShare Advisors LLC increased its holdings in J & J Snack Foods by 48.2% during the 3rd quarter. ProShare Advisors LLC now owns 129,228 shares of the company's stock valued at $9,879,000 after purchasing an additional 42,055 shares in the last quarter. Vise Technologies Inc. raised its holdings in shares of J & J Snack Foods by 61.4% in the third quarter. Vise Technologies Inc. now owns 5,330 shares of the company's stock valued at $407,000 after buying an additional 2,027 shares during the last quarter. Finally, Signaturefd LLC lifted its position in shares of J & J Snack Foods by 14.5% during the third quarter. Signaturefd LLC now owns 1,124 shares of the company's stock worth $86,000 after purchasing an additional 142 shares in the last quarter. Institutional investors own 76.04% of the company's stock.

J & J Snack Foods Company Profile

J&J Snack Foods Corp. manufactures and distributes snack foods and frozen beverages for retail and foodservice customers. Its products include soft pretzels, churros, funnel cakes, cookies, baked goods, frozen novelties and frozen juice treats, as well as frozen carbonated beverages and related dispensing products.

The company markets products under brands including SuperPretzel, ICEE, Dippin' Dots, LUIGI'S, MAMMA BELLA'S and MINUTE MAID frozen novelties, along with products sold under customer and private-label brands.

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