Bob Evans Farms Coverage Initiated by Analysts at Oppenheimer (BOBE)

Equities research analysts at Oppenheimer started coverage on shares of Bob Evans Farms (NASDAQ: BOBE) in a research note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm set an “outperform” rating and a $57.00 price target on the stock. Oppenheimer’s price objective would indicate a potential upside of 20.84% from the company’s current price.

The analysts wrote, “Underfollowed by the Street, we believe BOBE represents an attractive investment opportunity. As both businesses (restaurants & grocery) butterfly out of “transformational” initiatives, we expect the asset base to improve, margin structure to elevate and an attractive earnings upside case to emerge.”

A number of other analysts have also recently weighed in on BOBE. Analysts at Miller Tabak reiterated a “hold” rating on shares of Bob Evans Farms in a research note to investors on Tuesday, April 16th. They now have a $48.00 price target on the stock.

Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $50.40.

Shares of Bob Evans Farms (NASDAQ: BOBE) traded up 1.82% during mid-day trading on Tuesday, hitting $48.03. Bob Evans Farms has a one year low of $34.45 and a one year high of $45.36. The stock’s 50-day moving average is currently $41.13. The company’s market cap is $1.317 billion.

Bob Evans Farms (NASDAQ: BOBE) last released its earnings data on Tuesday, June 4th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.07. The company had revenue of $353.90 million for the quarter, compared to the consensus estimate of $331.41 million. During the same quarter in the previous year, the company posted $0.68 earnings per share. The company’s revenue for the quarter was down 14.4% on a year-over-year basis. Analysts expect that Bob Evans Farms will post $2.71 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Monday, June 17th. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.28 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.33%. The ex-dividend date is Thursday, May 30th.

Bob Evans Farms, Inc. (NASDAQ: BOBE) is a full-service restaurant company that operates two restaurant concepts: Bob Evans Restaurants and Mimi’s Cafes.