Zacks Research Upgrades J & J Snack Foods (NASDAQ:JJSF) to “Hold”

J & J Snack Foods (NASDAQ:JJSF) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday, Zacks reports.

Other equities analysts have also recently issued reports about the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of J & J Snack Foods in a research note on Monday, September 21st. Jefferies Financial Group raised shares of J & J Snack Foods from a “hold” rating to a “buy” rating and increased their price target for the company from $81.00 to $101.00 in a report on Thursday, August 6th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $110.50.

J & J Snack Foods Price Performance

NASDAQ:JJSF opened at $79.44 on Monday. The business’s 50-day simple moving average is $83.61 and its two-hundred day simple moving average is $79.55. J & J Snack Foods has a 52 week low of $68.87 and a 52 week high of $98.63. The stock has a market cap of $1.49 billion, a PE ratio of 30.55 and a beta of 0.40. The company has a quick ratio of 1.47, a current ratio of 2.34 and a debt-to-equity ratio of 0.03.

J & J Snack Foods (NASDAQ:JJSF) last released its earnings results on Wednesday, August 5th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.70 by $0.26. J & J Snack Foods had a net margin of 3.23% and a return on equity of 8.93%. The firm had revenue of $425.96 million for the quarter, compared to the consensus estimate of $427.65 million. During the same quarter in the previous year, the firm earned $2.00 earnings per share. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. As a group, analysts forecast that J & J Snack Foods will post 3.98 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of JJSF. Engineers Gate Manager LP purchased a new position in shares of J & J Snack Foods during the 2nd quarter valued at about $716,000. Integrated Wealth Concepts LLC purchased a new position in J & J Snack Foods in the second quarter valued at $133,000. NewEdge Advisors LLC increased its holdings in J & J Snack Foods by 37.6% in the second quarter. NewEdge Advisors LLC now owns 7,961 shares of the company’s stock valued at $585,000 after buying an additional 2,174 shares in the last quarter. Allworth Financial LP raised its position in shares of J & J Snack Foods by 94.3% in the second quarter. Allworth Financial LP now owns 645 shares of the company’s stock worth $47,000 after acquiring an additional 313 shares during the period. Finally, Nykredit A S acquired a new position in shares of J & J Snack Foods in the second quarter worth about $68,000. 76.04% of the stock is owned by institutional investors and hedge funds.

J & J Snack Foods Company Profile

J&J Snack Foods Corp. is a manufacturer and distributor of snack foods and beverages serving the foodservice and retail markets. The company produces soft pretzels, frozen and baked goods, churros, funnel cakes, dough products, frozen novelties, and frozen carbonated and non-carbonated beverages.

Its portfolio includes brands such as SUPERPRETZEL, ICEE, LUIGI’S Italian Ice, Dippin’ Dots, and various churro, pretzel, and concession-oriented product lines. These products are sold through venues including convenience stores, restaurants, schools, entertainment locations, supermarkets, and other institutional and retail channels.

Founded in 1971, J&J Snack Foods is based in Pennsauken, New Jersey.