Credit Suisse Upgrades B&G Foods to Outperform with Price Target $47

Brokerage firm Credit Suisse Upgrades its rating on B&G Foods(BGS). As per the latest information, Credit Suisse Lowers the price target to $47 per share from a prior target of $49. The shares have been rated Outperform. Previously, the analysts had a Neutral rating on the shares. The rating by the stock financial advisor at Credit Suisse was issued on Mar 17, 2017 in a research report to their Investors and Clients.

B&G Foods (BGS) shares turned negative on Wednesdays trading session with the shares closing down -0.4 points or -0.99% at a volume of 6,67,636. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $40.85. The peak price level was also seen at $40.85 while the days lowest was $40.1. Finally the shares closed at $40.2. The 52-week high of the shares is $52.84 while the 52-week low is $31.814. According to the latest information available, the market cap of the company is $2,672 M.

B&G Foods(BGS) last announced its earnings results on Feb 23, 2017 for Fiscal Year 2016 and Q4.Company reported revenue of $413.656M. Analysts had an estimated revenue of $426.000M. Earnings per share were $0.29. Analysts had estimated an EPS of $0.39.

Several Insider Transactions has been reported to the SEC. On May 19, 2016, Scott E Lerner (EVP & General Counsel) sold 13,000 shares at $42.79 per share price.Also, On May 12, 2016, Alfred Poe (director) sold 4,920 shares at $43.55 per share price.On May 11, 2016, Thomas P Crimmins (CFO) purchased 3,500 shares at $43.61 per share price, according to the Form-4 filing with the securities and exchange commission.

B&G Foods Inc. (B&G Foods) is a holding company that manufactures sells and distributes a range of shelf-stable food and household products across the United States Canada and Puerto Rico. Its products include hot cereals fruit spreads canned meats and beans bagel chips spices seasonings hot sauces wine vinegar maple syrup molasses salad dressings Mexican-style sauces dry soups taco shells and kits salsas pickles peppers tomato-based products puffed corn and rice snacks nut clusters and other specialty products. The Company’s products are marketed under a range of brands including Ac’cent B&G B&M Baker’s Joy Bear Creek Country Kitchens Brer Rabbit Canoleo Cary’s Cream of Rice Cream of Wheat Devonsheer Don Pepino Emeril’s Grandma’s Molasses JJ Flats Joan of Arc Las Palmas MacDonald’s Maple Grove Farms of Vermont and Molly McButter among others.

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