Auriga maintains a 'Hold' on B&G Foods (BGS); Solid Q1 Benefitted By Culver
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Price: $11.05 -0.18%
Rating Summary:
4 Buy, 11 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Rating Summary:
4 Buy, 11 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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Auriga maintains a 'Hold' on B&G Foods (NYSE: BGS) price target raised to $24.
Analyst, Gary Albanese, said, "While its revenue and EBITDA was near our expectations, its EPS of $0.35 was slightly above our estimate due to lower than expected interest and share count. The primary driver of B&G 20% revenue growth in F1Q12 was the inclusion of Culver Specialty Brands, which was also the primary reason that gross margins rose 200 bps to 36.1%. We expect similar improvements in FY12 due to Culver, which management noted had been smoothly integrated. In FY12, we expect the company to focus on distribution opportunities and organic growth, which includes the introduction of seasoning packages for Jarden’s Crock-Pot product. We believe this relationship has potential over time, not just for Crock-Pot, but to expand into Jarden’s other consumer products. Overall, we believe that B&G executed in-line with its and our expectations, and still consider B&G to be a solid performer in niche food products."
For an analyst ratings summary and ratings history on B&G Foods click here. For more ratings news on B&G Foods click here.
Shares of B&G Foods closed at $22.29 yesterday.
Analyst, Gary Albanese, said, "While its revenue and EBITDA was near our expectations, its EPS of $0.35 was slightly above our estimate due to lower than expected interest and share count. The primary driver of B&G 20% revenue growth in F1Q12 was the inclusion of Culver Specialty Brands, which was also the primary reason that gross margins rose 200 bps to 36.1%. We expect similar improvements in FY12 due to Culver, which management noted had been smoothly integrated. In FY12, we expect the company to focus on distribution opportunities and organic growth, which includes the introduction of seasoning packages for Jarden’s Crock-Pot product. We believe this relationship has potential over time, not just for Crock-Pot, but to expand into Jarden’s other consumer products. Overall, we believe that B&G executed in-line with its and our expectations, and still consider B&G to be a solid performer in niche food products."
For an analyst ratings summary and ratings history on B&G Foods click here. For more ratings news on B&G Foods click here.
Shares of B&G Foods closed at $22.29 yesterday.
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