CPB (NYSE:CPF) Rating Increased to Strong-Buy at Benchmark

CPB (NYSE:CPF) was upgraded by stock analysts at Benchmark to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

A number of other equities analysts also recently issued reports on the company. Weiss Ratings raised CPB from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Thursday, June 18th. Piper Sandler dropped their target price on CPB from $39.00 to $37.00 and set an “overweight” rating on the stock in a research note on Thursday, April 2nd. Finally, Keefe, Bruyette & Woods upped their target price on CPB from $36.00 to $37.00 and gave the company a “market perform” rating in a research report on Thursday, April 9th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, CPB presently has an average rating of “Buy” and a consensus price target of $39.33.

CPB Price Performance

NYSE:CPF opened at $38.35 on Wednesday. CPB has a 1 year low of $25.62 and a 1 year high of $39.20. The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of 12.83 and a beta of 0.84. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.85 and a quick ratio of 0.85. The business has a 50 day simple moving average of $35.76 and a 200-day simple moving average of $33.67.

CPB (NYSE:CPF) last posted its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.78 EPS for the quarter, topping the consensus estimate of $0.74 by $0.04. The firm had revenue of $72.93 million during the quarter, compared to analyst estimates of $74.30 million. CPB had a net margin of 21.96% and a return on equity of 13.93%. Equities analysts forecast that CPB will post 3.17 EPS for the current year.

Hedge Funds Weigh In On CPB

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its holdings in shares of CPB by 15.8% during the first quarter. Royal Bank of Canada now owns 9,131 shares of the financial services provider’s stock worth $247,000 after purchasing an additional 1,245 shares during the period. AQR Capital Management LLC grew its position in CPB by 1.6% during the 1st quarter. AQR Capital Management LLC now owns 169,809 shares of the financial services provider’s stock worth $4,592,000 after purchasing an additional 2,731 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of CPB by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,849 shares of the financial services provider’s stock valued at $429,000 after buying an additional 670 shares during the last quarter. Millennium Management LLC raised its stake in shares of CPB by 433.6% during the 1st quarter. Millennium Management LLC now owns 293,335 shares of the financial services provider’s stock valued at $7,932,000 after buying an additional 238,367 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of CPB in the 1st quarter valued at about $248,000. Hedge funds and other institutional investors own 88.42% of the company’s stock.

About CPB

Charoen Pokphand Foods Public Company Limited (NYSE: CPF) is a Thailand?based integrated agro?industrial and food conglomerate. Headquartered in Bangkok, the company is a subsidiary of the Charoen Pokphand Group and has grown into one of the world’s leading producers of livestock feed, meat and seafood products. CPF’s businesses span animal feed milling, animal breeding and hatchery operations, meat and seafood processing, and the distribution of fresh, frozen and value?added food products.

CPF’s product portfolio includes poultry, swine and aquaculture feed; fresh and frozen chicken and pork; shrimp and other seafood; as well as ready?to?eat and ready?to?cook food items.