Tyson Foods, Inc. (NYSE:TSN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The brokerage currently has a $73.00 price target on the stock. Zacks Investment Research‘s price objective points to a potential upside of 12.90% from the stock’s current price.
According to Zacks, “Tyson Foods posted strong third-quarter fiscal 2017 results, wherein both earnings and sales surpassed estimates. The results mainly benefitted from the strong performance of its segments, primarily Beef and Chicken. Improved availability of cattle supply and higher exports aided growth across its segments during the quarter. Shares also outperform the broader industry over the past three months. Tyson Foods has also been focusing on acquisitions to expand its portfolio. During the third quarter the company witnessed acquisition related synergies from AdvancePierre that aided enhancing volumes in the Prepared Food segment. Additionally, the company has also been putting efforts towards improving protein-packed brands through innovation. However, Tyson Foods’ margins remains exposed to rising operational costs as a result of increasing investments.”
Several other equities research analysts have also issued reports on TSN. BidaskClub lowered shares of Tyson Foods from a “buy” rating to a “hold” rating in a research note on Thursday, June 22nd. Mizuho reissued a “buy” rating and set a $76.00 target price (up from $71.00) on shares of Tyson Foods in a research note on Wednesday. BMO Capital Markets reissued an “outperform” rating and set a $78.00 target price (up from $75.00) on shares of Tyson Foods in a research note on Thursday. Royal Bank Of Canada reissued a “hold” rating and set a $68.00 target price on shares of Tyson Foods in a research note on Tuesday, May 9th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $75.00 target price on shares of Tyson Foods in a research note on Monday, May 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Tyson Foods currently has a consensus rating of “Buy” and an average target price of $69.79.
Shares of Tyson Foods (NYSE TSN) opened at 64.66 on Thursday. Tyson Foods has a one year low of $55.72 and a one year high of $77.05. The company has a market cap of $23.72 billion, a P/E ratio of 13.63 and a beta of 0.26. The company’s 50-day moving average price is $62.11 and its 200 day moving average price is $62.12.
Tyson Foods (NYSE:TSN) last announced its quarterly earnings results on Monday, August 7th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.10. The company had revenue of $9.85 billion for the quarter, compared to the consensus estimate of $9.49 billion. Tyson Foods had a return on equity of 18.44% and a net margin of 4.75%. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period last year, the firm earned $1.21 EPS. On average, equities research analysts anticipate that Tyson Foods will post $5.06 earnings per share for the current year.
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Hedge funds and other institutional investors have recently modified their holdings of the stock. Gulf International Bank UK Ltd raised its position in shares of Tyson Foods by 25.3% in the first quarter. Gulf International Bank UK Ltd now owns 5,951 shares of the company’s stock worth $367,000 after buying an additional 1,200 shares in the last quarter. National Pension Service raised its position in shares of Tyson Foods by 7.1% in the first quarter. National Pension Service now owns 265,039 shares of the company’s stock worth $16,337,000 after buying an additional 17,455 shares in the last quarter. Alpha Windward LLC raised its position in shares of Tyson Foods by 6.3% in the first quarter. Alpha Windward LLC now owns 8,092 shares of the company’s stock worth $499,000 after buying an additional 480 shares in the last quarter. Tompkins Financial Corp raised its position in shares of Tyson Foods by 69.9% in the first quarter. Tompkins Financial Corp now owns 7,241 shares of the company’s stock worth $483,000 after buying an additional 2,980 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Tyson Foods by 146.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 31,698 shares of the company’s stock worth $1,965,000 after buying an additional 18,830 shares in the last quarter. 71.97% of the stock is currently owned by hedge funds and other institutional investors.
About Tyson Foods
Tyson Foods, Inc is a food company, which is engaged in offering chicken, beef and pork, as well as prepared foods. The Company offers food products under Tyson, Jimmy Dean, Hillshire Farm, Sara Lee, Ball Park, Wright, Aidells and State Fair brands. The Company operates through four segments: Chicken, Beef, Pork and Prepared Foods.
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