Armanino Foods of Distinction Inc. (OTCMKTS:AMNF) Short Interest Down 99.7% in March

Key Points

• Short interest plunged 99.7% in March to just 9 shares as of March 31, leaving a days-to-cover ratio of 0.0 and effectively 0.0% of the float sold short.
• Analysts have a consensus "Buy" rating with a $15.00 target after three recent reports (one strong-buy, one buy, one hold).
• Armanino beat quarterly EPS estimates ($0.17 vs. $0.13), reported $19.5M in revenue and strong profitability (ROE 50.33%, net margin 24.52%); shares trade around $10.40 with a market cap near $323M.

Armanino Foods of Distinction Inc. (OTCMKTS:AMNF - Get Free Report) saw a significant decline in short interest during the month of March. As of March 31st, there was short interest totaling 9 shares, a decline of 99.7% from the March 15th total of 3,411 shares. Based on an average trading volume of 47,053 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.0% of the company's stock are sold short.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on AMNF shares. Roth Mkm started coverage on Armanino Foods of Distinction in a research report on Friday, January 23rd. They set a "buy" rating and a $15.00 price objective for the company. Zacks Research raised Armanino Foods of Distinction to a "hold" rating in a research report on Monday, January 26th. Finally, Lake Street Capital raised Armanino Foods of Distinction to a "strong-buy" rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Armanino Foods of Distinction has a consensus rating of "Buy" and a consensus target price of $15.00.

Armanino Foods of Distinction Stock Performance

Shares of OTCMKTS:AMNF traded down $0.01 on Friday, hitting $10.40. 5,890 shares of the company's stock were exchanged, compared to its average volume of 27,550. Armanino Foods of Distinction has a 1-year low of $7.27 and a 1-year high of $12.25. The company has a market capitalization of $323.21 million, a PE ratio of 17.63 and a beta of 0.12. The firm's 50-day moving average is $10.99 and its 200 day moving average is $10.84.

Armanino Foods of Distinction (OTCMKTS:AMNF - Get Free Report) last posted its earnings results on Thursday, March 19th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.04. Armanino Foods of Distinction had a return on equity of 50.33% and a net margin of 24.52%.The business had revenue of $19.50 million during the quarter, compared to the consensus estimate of $19.40 million.

Armanino Foods of Distinction Company Profile

Armanino Foods of Distinction, Inc produces and markets frozen food products in the United States. The company offers gourmet beef, Italian style beef and pork, and smoked turkey meatballs; grated parmesan and 3 cheese blend cheese; and various pesto, such as basil, artichoke, cilantro, dried tomato and garlic, roasted garlic, roasted red bell pepper, and southwest chipotle. It also provides frozen pasta, which includes beef cannelloni, cheese manicotti, cheese stuffed shells, cheese tortellini; pasta sheets, potato gnocchi, and tricolor cheese tortellini, as well as beef, butternut squash, four cheese, cheese and spinach, and wild mushroom ravioli; and various sauces, comprising creamy garlic, alfresco, Bolognese, chimichurri, harissa, and romesco.

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