KeyBanc Downgrades Bob Evans Farms (BOBE) to Hold
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Price: $46.11 +1.01%
Rating Summary:
2 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 43 | New: 13
Rating Summary:
2 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 43 | New: 13
Trade BOBE Now!
KeyBanc downgraded Bob Evans Farms (NASDAQ: BOBE) from Buy to Hold.
The firm comments, "We continue to view BOBE's plan to reinvigorate Bob Evans Restaurants (BER) and grow BEF Foods division positively, but have less confidence that near-term performance will exceed investors' expectations. Our BUY thesis was the selling of Mimi's and continued growth of BEF Foods that would lead to upside to the FY14 EPS consensus estimate ($2.94 on January 3, 2013, but currently $2.77); however, the uncertainty of BEF Foods margin outlook causes us to recommend a HOLD, rather than buying at the current price."
For an analyst ratings summary and ratings history on Bob Evans Farms click here. For more ratings news on Bob Evans Farms click here.
Shares of Bob Evans Farms closed at $44.27 yesterday, with a 52 week range of $34.45-$45.36.
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The firm comments, "We continue to view BOBE's plan to reinvigorate Bob Evans Restaurants (BER) and grow BEF Foods division positively, but have less confidence that near-term performance will exceed investors' expectations. Our BUY thesis was the selling of Mimi's and continued growth of BEF Foods that would lead to upside to the FY14 EPS consensus estimate ($2.94 on January 3, 2013, but currently $2.77); however, the uncertainty of BEF Foods margin outlook causes us to recommend a HOLD, rather than buying at the current price."
For an analyst ratings summary and ratings history on Bob Evans Farms click here. For more ratings news on Bob Evans Farms click here.
Shares of Bob Evans Farms closed at $44.27 yesterday, with a 52 week range of $34.45-$45.36.
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