Performance Food Group (NYSE:PFGC) Raised to Hold at ValuEngine

ValuEngine upgraded shares of Performance Food Group (NYSE:PFGC) from a sell rating to a hold rating in a research report released on Wednesday morning, ValuEngine reports.

Other equities research analysts have also recently issued research reports about the company. Wells Fargo & Co reiterated a buy rating on shares of Performance Food Group in a report on Friday, September 27th. Bank of America raised their target price on Performance Food Group from $45.00 to $52.00 and gave the company a buy rating in a research note on Wednesday, October 2nd. Buckingham Research raised their target price on Performance Food Group from $47.00 to $53.00 and gave the company a buy rating in a research note on Thursday, August 15th. Zacks Investment Research upgraded Performance Food Group from a sell rating to a hold rating in a research note on Tuesday, October 29th. Finally, Loop Capital raised their target price on Performance Food Group to $50.00 and gave the company a buy rating in a research note on Thursday, August 15th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has an average rating of Buy and an average price target of $48.10.

NYSE PFGC traded down $1.61 on Wednesday, hitting $44.14. The company’s stock had a trading volume of 706,952 shares, compared to its average volume of 630,763. Performance Food Group has a 52-week low of $30.07 and a 52-week high of $47.26. The company has a current ratio of 1.57, a quick ratio of 0.77 and a debt-to-equity ratio of 1.03. The company’s 50-day simple moving average is $44.07 and its 200 day simple moving average is $42.74. The firm has a market cap of $4.56 billion, a P/E ratio of 23.86, a PEG ratio of 1.89 and a beta of 0.60.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings data on Wednesday, November 6th. The food distribution company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.15. Performance Food Group had a return on equity of 15.86% and a net margin of 0.84%. The business had revenue of $6.24 billion during the quarter, compared to analysts’ expectations of $6.10 billion. During the same quarter last year, the business posted $0.34 EPS. The business’s revenue was up 37.5% on a year-over-year basis. On average, research analysts forecast that Performance Food Group will post 1.98 EPS for the current fiscal year.

In related news, insider Patrick T. Hagerty sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $46.57, for a total transaction of $325,990.00. Following the completion of the transaction, the insider now owns 138,406 shares of the company’s stock, valued at approximately $6,445,567.42. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Craig Howard Hoskins sold 17,009 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $43.91, for a total value of $746,865.19. Following the transaction, the insider now directly owns 123,802 shares of the company’s stock, valued at approximately $5,436,145.82. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,888 shares of company stock valued at $1,429,538. 3.40% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of PFGC. Quest Capital Management Inc. ADV bought a new position in Performance Food Group during the 3rd quarter valued at approximately $39,000. Tower Research Capital LLC TRC bought a new position in Performance Food Group during the 2nd quarter valued at approximately $45,000. Meeder Asset Management Inc. bought a new position in Performance Food Group during the 2nd quarter valued at approximately $54,000. NEXT Financial Group Inc increased its position in Performance Food Group by 12.9% during the 2nd quarter. NEXT Financial Group Inc now owns 2,114 shares of the food distribution company’s stock valued at $85,000 after buying an additional 242 shares in the last quarter. Finally, Convergence Investment Partners LLC bought a new position in Performance Food Group during the 2nd quarter valued at approximately $185,000. 97.15% of the stock is owned by institutional investors.

About Performance Food Group

Performance Food Group Company, through its subsidiaries, markets and distributes food and food-related products in the United States. It operates in three operating segments: Performance Foodservice, PFG Customized, and Vistar. The company offers a range of frozen foods, including meats, fully prepared appetizers and entrees, fruits, vegetables, and desserts; canned and dry foods; fresh meats; dairy products; beverage products; imported specialties; fresh produce; and candy, snack, and other products, as well as beef, seafood, shortenings and oils, baked goods, salad dressings, teas and cocoas, pork, and others.

Recommended Story: Municipal Bonds

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Performance Food Group (NYSE:PFGC)

Receive News & Ratings for Performance Food Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Performance Food Group and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit