Pivotal Research Upgrades Diamond Foods (DMND) to Hold
Get Alerts DMND Hot Sheet
Rating Summary:
3 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 20 | Down: 14 | New: 22
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Pivotal Research upgraded Diamond Foods (NASDAQ: DMND) from Sell to Hold with a price target of $27.00 (from $22.00). The change follows Q3 results.
Analyst Timothy S. Ramey said, "There was a lot to like about Diamond Foods 3Q. Reported adjusted EPS came in at $0.23 vs. $0.11 LY; well better than our $0.17 estimate and Street consensus of $0.15. Guidance for the July fiscal year was narrowed to $1.00-$1.10 from $0.95-$1.10 previously."
"The results of the 3Q will cause a fairly radical change to the outlook, assuming that it is a good idea to extrapolate off of this 3Q data point. Sales forecasts are coming down but GM in particular must be up for DMND to come close to the 10-15% EPS growth in the secular forecast – and we hasten to add that they have no explicit guidance yet for FY16," he added.
For an analyst ratings summary and ratings history on Diamond Foods click here. For more ratings news on Diamond Foods click here.
Shares of Diamond Foods closed at $28.97 yesterday.
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