Annie's (BNNY) Shares Hop Higher as Cramer Gives Two Thumbs Up
Get Alerts BNNY Hot Sheet
Price: $45.97 --0%
Rating Summary:
2 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 11
Rating Summary:
2 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 11
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Shares of Annie's (NYSE: BNNY) are higher Tuesday following some bullish comments from stock savant Jim Cramer late Monday night.
After preaching the idea of "take the money and run" following Annie's IPO last Wednesday, Cramer now views the organic health food company as more of a long-term play.
The assessment came from experience watching peer Hain Celestial (Nasdaq: HAIN). However, Hain is going for 25 times earnings with a growth rate of just 13 percent, compared with Annie's trading for 23 times earnings and a proposed 22 percent growth rate.
Though the IPO price of $18 was designed to be low, Annie's initial pop to $31 seemed justified. Cramer contends shares are still inexpensive at $34 should the company be able to maintain growth targets.
Finally, Cramer advised investors and traders to grab some Annie's as analysts are likely to laud the company once the quiet period concludes at the end of May.
Shares are 9 percent better Tuesday. The stock last traded at $37.75.
After preaching the idea of "take the money and run" following Annie's IPO last Wednesday, Cramer now views the organic health food company as more of a long-term play.
The assessment came from experience watching peer Hain Celestial (Nasdaq: HAIN). However, Hain is going for 25 times earnings with a growth rate of just 13 percent, compared with Annie's trading for 23 times earnings and a proposed 22 percent growth rate.
Though the IPO price of $18 was designed to be low, Annie's initial pop to $31 seemed justified. Cramer contends shares are still inexpensive at $34 should the company be able to maintain growth targets.
Finally, Cramer advised investors and traders to grab some Annie's as analysts are likely to laud the company once the quiet period concludes at the end of May.
Shares are 9 percent better Tuesday. The stock last traded at $37.75.
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