Diamond Foods Stock Rating Lowered by DA Davidson (DMND)

DA Davidson cut shares of Diamond Foods (NASDAQ: DMND) from a buy rating to a neutral rating in a research report sent to investors on Tuesday morning.

“DMND reduced its reported sales segments to two, previously four, and still does not provide segment EBIT data. In a move that reduces clarity, the company moved away from the useful “Snacks” segment and put Emerald snacks into a newly created “Nuts” segment. However, management only provided FY13 YTD segment data so it will be impossible to use the new segments until the remainder of the FY is reported since we don’t know the FY12 base. The move was disappointing given the reduction in clarity. The company has employed an interim CFO for more than a year, since February 2012.,” the firm’s analyst wrote.

Several other analysts have also recently commented on the stock. Analysts at Zacks downgraded shares of Diamond Foods from a neutral rating to an underperform rating in a research note to investors on Monday, December 31st. They now have a $12.00 price target on the stock. Separately, analysts at Jefferies Group reiterated an underperform rating on shares of Diamond Foods in a research note to investors on Wednesday, December 19th. They now have a $11.00 price target on the stock. Finally, analysts at RBC Capital cut their price target on shares of Diamond Foods from $15.00 to $14.00 in a research note to investors on Tuesday, December 18th. They now have a sector perform rating on the stock.

Eight research analysts have rated the stock with a hold rating, and one has given a sell rating to the company’s stock. The company presently has a consensus rating of hold and an average target price of $14.00.

Diamond Foods opened at 16.30 on Tuesday. Diamond Foods has a 52-week low of $12.85 and a 52-week high of $28.29. The stock’s 50-day moving average is currently $15.38. The company’s market cap is $359.7 million.

Diamond Foods, Inc. (Diamond) is a packaged food company focused on building, acquiring and energizing brands.

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