J & J Snack Foods (NASDAQ:JJSF) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded J & J Snack Foods from a “hold” to a “strong sell,” adding to a mixed analyst backdrop that includes a consensus rating of “Reduce” and an average target price of $130.00.
• The stock was trading near recent lows, opening at $76.17, below both its 50-day moving average of $81.67 and 200-day moving average of $86.99, with a 52-week range of $73.53 to $129.24.
• Latest earnings topped profit expectations but missed on revenue, as J&J Snack Foods reported $0.40 EPS versus $0.39 expected, while revenue of $344.82 million fell short of estimates and was down 3.2% year over year.

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

JJSF has been the subject of several other reports. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of J & J Snack Foods in a report on Friday, March 27th. Benchmark reaffirmed a "buy" rating on shares of J & J Snack Foods in a report on Tuesday, January 20th. One investment analyst has rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Reduce" and an average target price of $130.00.

J & J Snack Foods Stock Up 0.6%

Shares of JJSF opened at $76.17 on Thursday. The stock has a 50 day moving average price of $81.67 and a 200 day moving average price of $86.99. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of 25.56 and a beta of 0.43. J & J Snack Foods has a 52-week low of $73.53 and a 52-week high of $129.24.

J & J Snack Foods (NASDAQ:JJSF - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.01. The business had revenue of $344.82 million during the quarter, compared to the consensus estimate of $349.67 million. J & J Snack Foods had a return on equity of 9.01% and a net margin of 3.75%.The company's revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.35 earnings per share. On average, equities analysts anticipate that J & J Snack Foods will post 4.16 EPS for the current fiscal year.

J & J Snack Foods declared that its Board of Directors has authorized a share repurchase plan on Tuesday, February 3rd that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to reacquire up to 2.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Allworth Financial LP increased its position in shares of J & J Snack Foods by 485.1% in the fourth quarter. Allworth Financial LP now owns 275 shares of the company's stock valued at $25,000 after buying an additional 228 shares in the last quarter. Global Retirement Partners LLC increased its position in J & J Snack Foods by 1,133.3% during the 4th quarter. Global Retirement Partners LLC now owns 333 shares of the company's stock worth $30,000 after purchasing an additional 306 shares in the last quarter. IFP Advisors Inc increased its position in J & J Snack Foods by 1,450.0% during the 4th quarter. IFP Advisors Inc now owns 341 shares of the company's stock worth $31,000 after purchasing an additional 319 shares in the last quarter. Smartleaf Asset Management LLC increased its position in J & J Snack Foods by 58.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 404 shares of the company's stock worth $36,000 after purchasing an additional 149 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its position in J & J Snack Foods by 897.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 439 shares of the company's stock worth $40,000 after purchasing an additional 395 shares in the last quarter. Hedge funds and other institutional investors own 76.04% of the company's stock.

About J & J Snack Foods

J & J Snack Foods NASDAQ: JJSF is a U.S.-based manufacturer and distributor of branded snack foods and frozen beverages. Headquartered in Pennsauken, New Jersey, the company develops, produces and markets a broad array of proprietary and licensed products for retail, concession and foodservice customers. Its offerings span soft pretzels, frozen novelties, real Italian ice, churros and packaged beverages under well-known names such as ICEE, SuperPretzel, Luigi's and ChurroMan.

Founded in 1971 by Gerald B.

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