Barclays Maintains an 'Equalweight' on Sysco (SYY); Was 3Q an Inflection Point?
Tweet
Share
E-mailGet Alerts SYY Hot Sheet
Price: $83.46 +0.48%
Rating Summary:
16 Buy, 13 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
16 Buy, 13 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
Barclays maintains an 'Equalweight' on Sysco (NYSE: SYY), PT increased from $29 to $30.
Barclays analyst says, "In the most recent quarter, SYY was able to pass through higher inflation, and this allowed gross profit dollars to grow about in line with SG&A dollars; in the prior two quarters expenses grew faster. SYY also did a good job of managing expenses this quarter, but it benefited from capitalizing some of the costs associated with its business transformation process that it had previously expected to expense. And this is only a temporary benefit, future costs must now be expensed. More importantly, we remain cautious about the medium-term outlook given our concern that a combination of high inflation across the board and much higher fuel prices could reduce restaurant demand as consumers pull back on discretionary spending."
"We are raising our 4Q11 EPS estimate to $0.60 from $0.55 and increasing our FY11 EPS estimate to $2.01 and FY12 to $2.05."
For more ratings news on Sysco click here and for the rating history of Sysco click here.
Shares of Sysco closed at $31.57 yesterday.
Barclays analyst says, "In the most recent quarter, SYY was able to pass through higher inflation, and this allowed gross profit dollars to grow about in line with SG&A dollars; in the prior two quarters expenses grew faster. SYY also did a good job of managing expenses this quarter, but it benefited from capitalizing some of the costs associated with its business transformation process that it had previously expected to expense. And this is only a temporary benefit, future costs must now be expensed. More importantly, we remain cautious about the medium-term outlook given our concern that a combination of high inflation across the board and much higher fuel prices could reduce restaurant demand as consumers pull back on discretionary spending."
"We are raising our 4Q11 EPS estimate to $0.60 from $0.55 and increasing our FY11 EPS estimate to $2.01 and FY12 to $2.05."
For more ratings news on Sysco click here and for the rating history of Sysco click here.
Shares of Sysco closed at $31.57 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Advance Auto Parts (AAP) PT Lowered to $48 at DA Davidson Following 25% Selloff Post Q2 Results
- Sysco Declares Quarterly Dividend Payment
- Sysco Announces Strategic Board Appointments and AI Transformation Initiatives Intended to Accelerate Growth, Long-Term Value Creation
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
BarclaysSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
