Zacks Investment Research Lowers J & J Snack Foods (NASDAQ:JJSF) to Sell

Zacks Investment Research lowered shares of J & J Snack Foods (NASDAQ:JJSF) from a hold rating to a sell rating in a research note published on Friday morning, Zacks.com reports.

According to Zacks, “J&J Snack Foods Corporation is an American manufacturer, marketer, and distributor of branded niche snack foods and frozen beverages for the food service and retail supermarket industries. Manufactured and distributed nationwide, their principal products include SUPERPRETZEL, BAVARIAN BAKERY and other soft pretzels, ICEE and SLUSH PUPPIE frozen beverages, LUIGI’S, MINUTE MAID frozen juice bars and ices, WHOLE FRUIT sorbet and frozen fruit bars, MARY B’S biscuits and dumplings, DADDY RAY’S fig and fruit bars, TIO PEPE’S, CALIFORNIA CHURROS and OREO Churros, PATIO Burritos and other handheld sandwiches, THE FUNNEL CAKE FACTORY funnel cakes, and several bakery brands within COUNTRY HOME BAKERS and HILL & VALLEY. “

JJSF has been the subject of a number of other research reports. BidaskClub lowered J & J Snack Foods from a hold rating to a sell rating in a research note on Tuesday, October 29th. Consumer Edge raised J & J Snack Foods from an equal weight rating to an overweight rating in a report on Friday, August 9th. Finally, ValuEngine cut J & J Snack Foods from a buy rating to a hold rating in a research report on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. J & J Snack Foods presently has a consensus rating of Hold and an average target price of $176.50.

Shares of J & J Snack Foods stock opened at $188.80 on Friday. The firm has a fifty day moving average price of $187.91 and a 200 day moving average price of $180.00. J & J Snack Foods has a 1 year low of $138.40 and a 1 year high of $196.84. The stock has a market cap of $3.57 billion, a PE ratio of 38.14 and a beta of 0.32.

J & J Snack Foods (NASDAQ:JJSF) last posted its earnings results on Thursday, November 7th. The company reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.09). J & J Snack Foods had a net margin of 7.99% and a return on equity of 11.75%. The business had revenue of $311.87 million for the quarter, compared to analyst estimates of $309.50 million. During the same quarter in the prior year, the firm earned $1.24 earnings per share. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, analysts predict that J & J Snack Foods will post 5.22 earnings per share for the current fiscal year.

In other J & J Snack Foods news, CEO Gerald B. Shreiber sold 1,947 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $187.92, for a total value of $365,880.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sidney R. Brown sold 1,400 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $185.90, for a total value of $260,260.00. The disclosure for this sale can be found here. Insiders own 21.00% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of JJSF. Steward Partners Investment Advisory LLC purchased a new stake in shares of J & J Snack Foods in the second quarter valued at about $35,000. Krane Funds Advisors LLC acquired a new position in J & J Snack Foods in the 2nd quarter valued at about $58,000. Point72 Asset Management L.P. acquired a new position in J & J Snack Foods in the 3rd quarter valued at about $58,000. Tower Research Capital LLC TRC purchased a new stake in shares of J & J Snack Foods in the 2nd quarter valued at approximately $60,000. Finally, North Star Investment Management Corp. purchased a new stake in shares of J & J Snack Foods in the 3rd quarter valued at approximately $77,000. Institutional investors and hedge funds own 73.77% of the company’s stock.

About J & J Snack Foods

J & J Snack Foods Corp. manufactures, markets, and distributes nutritional snack foods and beverages in the United States, Mexico, and Canada. It operates in three segments: Food Service, Retail Supermarkets, and Frozen Beverages. The company offers soft pretzels under the SUPERPRETZEL, PRETZEL FILLERS, PRETZELFILS, GOURMET TWISTS, MR.

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