Zacks Research Upgrades J & J Snack Foods (NASDAQ:JJSF) to "Hold"

Key Points

• Zacks Research upgraded J&J Snack Foods to “Hold” from “Strong Sell,” while the broader analyst consensus remains “Hold” with an average price target of $110.50.
• JJSF shares opened at $79.44, with a market capitalization of approximately $1.49 billion and a 52-week range of $68.87 to $98.63.
• The company beat quarterly EPS estimates ($1.96 versus $1.70) but reported revenue of $425.96 million, down 6.3% year over year and slightly below expectations.

J & J Snack Foods (NASDAQ:JJSF - Get Free Report) was upgraded by analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a report released on Monday, Zacks reports.

Other equities research analysts also recently issued reports about the stock. Jefferies Financial Group upgraded shares of J & J Snack Foods from a "hold" rating to a "buy" rating and raised their target price for the company from $81.00 to $101.00 in a research note on Thursday, August 6th. Weiss Ratings reissued a "sell (d+)" rating on shares of J & J Snack Foods in a research report on Monday, September 21st. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $110.50.

J & J Snack Foods Price Performance

Shares of JJSF opened at $79.44 on Monday. The company has a current ratio of 2.34, a quick ratio of 1.47 and a debt-to-equity ratio of 0.03. The company's fifty day simple moving average is $83.61 and its 200 day simple moving average is $79.55. J & J Snack Foods has a 1-year low of $68.87 and a 1-year high of $98.63. The company has a market cap of $1.49 billion, a price-to-earnings ratio of 30.55 and a beta of 0.40.

J & J Snack Foods (NASDAQ:JJSF - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.70 by $0.26. J & J Snack Foods had a net margin of 3.23% and a return on equity of 8.93%. The firm had revenue of $425.96 million during the quarter, compared to analysts' expectations of $427.65 million. During the same quarter last year, the company posted $2.00 earnings per share. The company's revenue for the quarter was down 6.3% compared to the same quarter last year. On average, research analysts forecast that J & J Snack Foods will post 3.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On J & J Snack Foods

Several large investors have recently modified their holdings of JJSF. Engineers Gate Manager LP bought a new stake in shares of J & J Snack Foods during the 2nd quarter worth about $716,000. Integrated Wealth Concepts LLC acquired a new position in J & J Snack Foods in the 2nd quarter valued at about $133,000. NewEdge Advisors LLC raised its holdings in J & J Snack Foods by 37.6% in the 2nd quarter. NewEdge Advisors LLC now owns 7,961 shares of the company's stock valued at $585,000 after acquiring an additional 2,174 shares during the period. Allworth Financial LP lifted its position in J & J Snack Foods by 94.3% during the second quarter. Allworth Financial LP now owns 645 shares of the company's stock worth $47,000 after acquiring an additional 313 shares during the last quarter. Finally, Nykredit A S acquired a new stake in J & J Snack Foods during the second quarter worth approximately $68,000. 76.04% of the stock is owned by institutional investors.

J & J Snack Foods Company Profile

J&J Snack Foods Corp. is a manufacturer and distributor of snack foods and beverages serving the foodservice and retail markets. The company produces soft pretzels, frozen and baked goods, churros, funnel cakes, dough products, frozen novelties, and frozen carbonated and non-carbonated beverages.

Its portfolio includes brands such as SUPERPRETZEL, ICEE, LUIGI’S Italian Ice, Dippin’ Dots, and various churro, pretzel, and concession-oriented product lines. These products are sold through venues including convenience stores, restaurants, schools, entertainment locations, supermarkets, and other institutional and retail channels.

Founded in 1971, J&J Snack Foods is based in Pennsauken, New Jersey.

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