Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views

Last Hour:
Last 24 Hours:

Bob Evans shares gain after earnings, upgrade and investor buy

Wednesday, March 8, 2017 8:41
% of readers think this story is Fact. Add your two cents.

Bob Evans Farms Inc (NASDAQ:BOBE) shares may have opened lower but they quickly advanced on the day on Wednesday after reporting fiscal third-quarter net income of $8.2mln.

The New Albany, Ohio-based company added the as-expected results on the same shelf as its other corporate trophy this week – being upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday.

The brokerage presently has a $65.00 price target on the stock. Zacks Investment Research’s target price indicates a potential upside of 14.54% from the company’s current price.

The company said on Wednesday it had net income of 41 cents per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, came to 75 cents per share – in line with expectations.

The restaurant chain posted revenue of $112.8mln in the period. Its adjusted revenue was $335.9mln.

Meanwhile, it also transpired on Wednesday that investor Russell Investments Group Ltd. purchased a new stake in shares of Bob Evans Farms during the fourth quarter, according to its most recent filing with the SEC. The institutional investor purchased 97,629 shares of the company’s stock, valued at approximately $5,237,000. Russell Investments Group Ltd. owned about 0.49% of Bob Evans Farms as of its most recent SEC filing.

Bob Evans shares were up 2.5% at $58.20 in early Wednesday trading after opening at $55.60 – more than a dollar below the Tuesday closing price.

Story by ProactiveInvestors


We encourage you to Share our Reports, Analyses, Breaking News and Videos. Simply Click your Favorite Social Media Button and Share.

Report abuse


Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories



Top Global


Top Alternative




Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.