Diamond (DMND) Story Bigger than Market Cap - Cramer
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Price: $37.56 --0%
Rating Summary:
3 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
3 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Shares of Diamond Foods (Nasdaq: DMND) are one of the few stocks trading higher Monday following an upgrade from Northland Securities and a raised price target from KeyBanc. Potentially also adding to the modest upside this afternoon, Jim Cramer recommended picking the stock up on a pullback following a conversation with Diamond's CEO.
On Friday's Mad Money, Cramer spoke with Diamond CEO Michael Mendes. Mendes said Diamond has a more solidified presence in the snack food aisle, and it's achieving scale with its collective portfolio of brands. With Diamond's recent acquisition of the Pringles brand, Mendes notes the company will be able to ship full truckloads to larger customers and partial trucks to mid-sized retailers via its nationwide network of warehouses.
Mendes is also confident Diamond will be able to retain a solid second place position alongside market leader Frito-Lay, of PepsiCo. (NYSE: PEP).
Diamond will also be increasing its ad spending by 20 percent as part of its plan to increase promotions. Spending includes ads for the Super Bowl, which is scheduled for February 5, 2012.
Cramer continues to be bullish on Diamond, saying its story is much bigger than the company's current market cap.
Shares of diamond are up 0.2 percent Monday afternoon.
On Friday's Mad Money, Cramer spoke with Diamond CEO Michael Mendes. Mendes said Diamond has a more solidified presence in the snack food aisle, and it's achieving scale with its collective portfolio of brands. With Diamond's recent acquisition of the Pringles brand, Mendes notes the company will be able to ship full truckloads to larger customers and partial trucks to mid-sized retailers via its nationwide network of warehouses.
Mendes is also confident Diamond will be able to retain a solid second place position alongside market leader Frito-Lay, of PepsiCo. (NYSE: PEP).
Diamond will also be increasing its ad spending by 20 percent as part of its plan to increase promotions. Spending includes ads for the Super Bowl, which is scheduled for February 5, 2012.
Cramer continues to be bullish on Diamond, saying its story is much bigger than the company's current market cap.
Shares of diamond are up 0.2 percent Monday afternoon.
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