Smithfield Foods Stock Rating Lowered by Davenport (SFD)

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Smithfield Foods (NYSE: SFD) was downgraded by equities research analysts at Davenport from a “buy” rating to a “neutral” rating in a research note issued to investors on Thursday, TheFlyOnTheWall.com reports.

A number of other analysts have also recently weighed in on SFD. Analysts at Credit Suisse raised their price target on shares of Smithfield Foods from $31.00 to $34.00 in a research note to investors on Friday, May 31st. Separately, analysts at Stephens downgraded shares of Smithfield Foods to an “equal weight” rating in a research note to investors on Thursday, May 30th. Finally, analysts at BMO Capital Markets downgraded shares of Smithfield Foods from an “outperform” rating to a “market perform” rating in a research note to investors on Thursday, May 30th. They now have a $34.00 price target on the stock, up previously from $28.00.

Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $30.11.

Smithfield Foods (NYSE: SFD) traded up 0.14% on Thursday, hitting $32.855. Smithfield Foods has a 1-year low of $17.55 and a 1-year high of $33.96. The stock’s 50-day moving average is currently $28.26. The company has a market cap of $4.559 billion and a price-to-earnings ratio of 21.47.

Smithfield Foods (NYSE: SFD) last posted its quarterly earnings results on Friday, June 14th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by $0.22. The company had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $3.27 billion. During the same quarter in the previous year, the company posted $0.43 earnings per share. Analysts expect that Smithfield Foods will post $2.00 EPS for the current fiscal year.

Smithfield Foods, Inc. produces and markets a variety of fresh meat and packaged meats products both domestically and internationally.

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