Inventure Foods Inc. (NASDAQ:SNAK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “Inventure Foods, Inc., formerly known as Inventure Group, Inc., is engaged in the development, production, marketing, and distribution of natural and indulgent specialty snack food brands. The Company manufactures and sells under a variety of Company owned or licensed brand names, including T.G.I. Friday’s, BURGER KING, Jamba, Rader Farms, Boulder Canyon Natural Foods, Poore Brothers, Tato Skins and Bob’s Texas Style. It operates in three segments: manufactured snack products, berry products and distributed products. The manufactured snack products segment produces potato chips, potato crisps and potato skins. The berry products segment grows, processes, and markets berry blends, raspberries, blueberries, and rhubarb, as well as resells marionberries, cherries, cranberries, strawberries, and other fruits. The distributed products segment sells snack food products manufactured by other companies. The Company is headquartered in Phoenix, Arizona with manufacturing facilities in Arizona, Indiana and Washington. “
Separately, DA Davidson boosted their price objective on Inventure Foods from $10.00 to $11.00 and gave the company a “buy” rating in a report on Friday, September 16th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Inventure Foods presently has an average rating of “Buy” and an average price target of $9.60.
Shares of Inventure Foods (NASDAQ:SNAK) opened at 9.49 on Tuesday. The stock has a 50 day moving average price of $9.53 and a 200 day moving average price of $7.94. Inventure Foods has a 1-year low of $4.91 and a 1-year high of $9.82. The company’s market capitalization is $186.68 million.
Inventure Foods (NASDAQ:SNAK) last issued its quarterly earnings data on Wednesday, July 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by $0.02. The company earned $69.30 million during the quarter, compared to analyst estimates of $66.40 million. Inventure Foods had a negative net margin of 1.98% and a negative return on equity of 7.31%. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.02) EPS. On average, equities analysts anticipate that Inventure Foods will post $0.04 EPS for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in SNAK. Royce & Associates LP boosted its position in Inventure Foods by 34.3% in the first quarter. Royce & Associates LP now owns 463,062 shares of the company’s stock worth $2,616,000 after buying an additional 118,192 shares during the last quarter. State Street Corp boosted its position in Inventure Foods by 0.7% in the first quarter. State Street Corp now owns 200,919 shares of the company’s stock worth $1,135,000 after buying an additional 1,418 shares during the last quarter. Geode Capital Management LLC boosted its position in Inventure Foods by 2.0% in the first quarter. Geode Capital Management LLC now owns 126,354 shares of the company’s stock worth $713,000 after buying an additional 2,533 shares during the last quarter. Perkins Capital Management Inc. boosted its position in Inventure Foods by 205.0% in the second quarter. Perkins Capital Management Inc. now owns 199,750 shares of the company’s stock worth $1,560,000 after buying an additional 134,250 shares during the last quarter. Finally, Falcon Point Capital LLC boosted its position in Inventure Foods by 12.5% in the second quarter. Falcon Point Capital LLC now owns 212,506 shares of the company’s stock worth $1,660,000 after buying an additional 23,603 shares during the last quarter. 94.52% of the stock is owned by institutional investors.
About Inventure Foods
Inventure Foods, Inc is a marketer and manufacturer of healthy/natural and indulgent specialty snack food brands. The Company operates in two segments: frozen products and snack products. The frozen products segment produces frozen fruits, vegetables, beverages and frozen desserts for sale primarily to groceries, club stores and mass merchandisers.
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