Piper Sandler Lowers B&G Foods (NYSE:BGS) Price Target to $7.00

B&G Foods (NYSE:BGS) had its price objective cut by research analysts at Piper Sandler from $8.00 to $7.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s target price suggests a potential upside of 0.79% from the company’s current price.

A number of other research analysts have also recently weighed in on BGS. TD Cowen reduced their target price on B&G Foods from $8.00 to $7.50 and set a “sell” rating on the stock in a report on Wednesday, November 6th. Barclays reduced their price objective on B&G Foods from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Finally, Evercore ISI dropped their target price on shares of B&G Foods from $10.00 to $9.00 and set an “in-line” rating for the company in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $8.10.

B&G Foods Trading Down 1.2 %

NYSE BGS opened at $6.95 on Wednesday. The company has a market cap of $549.79 million, a P/E ratio of -20.43 and a beta of 0.50. B&G Foods has a 12 month low of $5.45 and a 12 month high of $11.97. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.64 and a quick ratio of 0.49. The company has a 50-day moving average of $6.59 and a 200-day moving average of $7.50.

B&G Foods (NYSE:BGS) last released its earnings results on Tuesday, February 25th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. The firm had revenue of $551.57 million during the quarter, compared to the consensus estimate of $547.95 million. B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. As a group, equities analysts predict that B&G Foods will post 0.7 earnings per share for the current year.

Institutional Investors Weigh In On B&G Foods

Large investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. lifted its position in B&G Foods by 50.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,913 shares of the company’s stock worth $55,000 after acquiring an additional 2,658 shares in the last quarter. Independent Wealth Network Inc. acquired a new position in shares of B&G Foods during the fourth quarter worth $77,000. SBI Securities Co. Ltd. acquired a new position in shares of B&G Foods during the fourth quarter worth $79,000. Regent Peak Wealth Advisors LLC purchased a new position in shares of B&G Foods in the fourth quarter valued at $81,000. Finally, Prism Advisors Inc. acquired a new stake in B&G Foods during the 4th quarter valued at $82,000. Institutional investors and hedge funds own 66.15% of the company’s stock.

B&G Foods Company Profile

B&G Foods, Inc is a holding company, which engages in the manufacture, sale, and distribution of shelf-stable frozen food, and household products in the U.S., Canada, and Puerto Rico. Its products include frozen and canned vegetables, hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, and wine vinegar.