Tyson Foods (NYSE:TSN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Saturday. The firm presently has a $89.00 target price on the stock. Zacks Investment Research‘s target price suggests a potential upside of 10.99% from the stock’s previous close.
According to Zacks, “Tyson Foods has surpassed the industry in the past six months owing to strong performance in all business segments, particularly Chicken and Beef. The prepared foods category has also been depicting solid growth, courtesy of rising demand for protein-packed brands and synergies from the AdvancePierre’s buyout. Apart from this, divestment of non-protein businesses and poultry production expansion efforts signify the company’s focus on strengthening protein-packed brands portfolio. Notably, Tyson Foods’ growth drivers fueled results in fourth-quarter fiscal 2017, wherein both top and bottom lines grew year over year and topped estimates. The solid results also encouraged management to issue a favorable view However, the company remains exposed to the risk of raw materials price volatility. Also, stiff competition and intense promotions remain headwinds. Rising wage costs also pose threats to Tyson Foods’ operating results.”
A number of other equities analysts have also recently commented on the stock. Piper Jaffray Companies began coverage on shares of Tyson Foods in a research report on Thursday, January 4th. They issued an “overweight” rating and a $94.00 target price on the stock. KeyCorp restated a “buy” rating and issued a $88.00 price objective on shares of Tyson Foods in a research report on Thursday, December 21st. ValuEngine upgraded shares of Tyson Foods from a “hold” rating to a “buy” rating in a research report on Monday, November 20th. upgraded shares of Tyson Foods from a “sell” rating to a “hold” rating and set a $75.00 price objective on the stock in a research report on Wednesday, November 15th. Finally, Argus upgraded shares of Tyson Foods from a “hold” rating to a “buy” rating and set a $90.00 price objective on the stock in a research report on Wednesday, November 15th. Seven equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Tyson Foods presently has a consensus rating of “Buy” and an average price target of $75.67.
Tyson Foods (NYSE:TSN) last issued its earnings results on Monday, November 13th. The company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.05. The company had revenue of $10.15 billion for the quarter, compared to analysts’ expectations of $9.93 billion. Tyson Foods had a net margin of 4.64% and a return on equity of 19.64%. The firm’s revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.96 EPS. equities research analysts predict that Tyson Foods will post 5.82 EPS for the current fiscal year.
In related news, General Counsel Bebber David L. Van sold 164,348 shares of the business’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $83.26, for a total transaction of $13,683,614.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Scott Rouse sold 1,000 shares of the business’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $77.26, for a total transaction of $77,260.00. The disclosure for this sale can be found here. Insiders have sold 397,342 shares of company stock worth $32,702,254 in the last quarter. 2.65% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Sentry Investment Management LLC increased its position in shares of Tyson Foods by 1.0% during the second quarter. Sentry Investment Management LLC now owns 22,219 shares of the company’s stock valued at $1,392,000 after buying an additional 229 shares during the period. L & S Advisors Inc boosted its stake in Tyson Foods by 4.3% during the second quarter. L & S Advisors Inc now owns 5,805 shares of the company’s stock worth $364,000 after acquiring an additional 240 shares in the last quarter. Bancorpsouth Inc. boosted its stake in Tyson Foods by 8.4% during the second quarter. Bancorpsouth Inc. now owns 7,448 shares of the company’s stock worth $467,000 after acquiring an additional 578 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Tyson Foods by 4.7% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 15,919 shares of the company’s stock worth $1,122,000 after acquiring an additional 715 shares in the last quarter. Finally, Amalgamated Bank boosted its stake in Tyson Foods by 2.4% during the third quarter. Amalgamated Bank now owns 32,144 shares of the company’s stock worth $2,265,000 after acquiring an additional 750 shares in the last quarter. Institutional investors own 71.33% of the company’s stock.
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About Tyson Foods
Tyson Foods, Inc is a food company, which is engaged in offering chicken, beef and pork, as well as prepared foods. The Company offers food products under Tyson, Jimmy Dean, Hillshire Farm, Sara Lee, Ball Park, Wright, Aidells and State Fair brands. The Company operates through four segments: Chicken, Beef, Pork and Prepared Foods.
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