Jefferies Group Lowers ConAgra Foods Price Target to $35.00 (CAG)

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ConAgra Foods (NYSE:CAG) had its price target reduced by Jefferies Group from $41.00 to $35.00 in a research report sent to investors on Wednesday morning, StockRatingsNetwork reports. The firm currently has a buy rating on the stock.

ConAgra Foods (NYSE:CAG) traded down 0.24% during mid-day trading on Wednesday, hitting $28.90. 1,273,335 shares of the company’s stock traded hands. ConAgra Foods has a 52-week low of $28.60 and a 52-week high of $37.28. The stock has a 50-day moving average of $32.60 and a 200-day moving average of $32.79. The company has a market cap of $12.150 billion and a P/E ratio of 17.50. ConAgra Foods also saw some unusual options trading activity on Monday. Investors bought 13,665 put options on the stock. This represents an increase of 1,455% compared to the typical daily volume of 879 put options.

ConAgra Foods (NYSE:CAG) last announced its earnings results on Thursday, December 19th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.07. The company had revenue of $4.71 billion for the quarter, compared to the consensus estimate of $4.61 billion. During the same quarter in the previous year, the company posted $0.57 earnings per share. The company’s revenue for the quarter was up 26.5% on a year-over-year basis. Analysts expect that ConAgra Foods will post $2.29 EPS for the current fiscal year.

A number of other analysts have also recently weighed in on CAG. Analysts at Zacks upgraded shares of ConAgra Foods from an underperform rating to a neutral rating in a research note on Wednesday, January 8th. They now have a $36.00 price target on the stock. Separately, analysts at Deutsche Bank reiterated a hold rating on shares of ConAgra Foods in a research note on Friday, December 20th. They now have a $35.00 price target on the stock, up previously from $33.00. Finally, analysts at RBC Capital initiated coverage on shares of ConAgra Foods in a research note on Monday, November 25th. They set a sector perform rating and a $33.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Hold and an average target price of $34.58.

ConAgra Foods, Inc (NYSE:CAG) is a food company.

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