Zacks Research Downgrades J & J Snack Foods (NASDAQ:JJSF) to Hold

J & J Snack Foods (NASDAQ:JJSF) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. Weiss Ratings reissued a “sell (d+)” rating on shares of J & J Snack Foods in a research report on Monday, December 29th. Benchmark reaffirmed a “buy” rating on shares of J & J Snack Foods in a research note on Tuesday. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, J & J Snack Foods presently has a consensus rating of “Hold” and a consensus target price of $132.50.

J & J Snack Foods Stock Performance

Shares of JJSF stock opened at $98.44 on Monday. J & J Snack Foods has a one year low of $80.67 and a one year high of $146.04. The company has a 50 day moving average price of $91.70 and a 200 day moving average price of $99.68. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of 29.39 and a beta of 0.34.

J & J Snack Foods (NASDAQ:JJSF) last announced its quarterly earnings results on Monday, November 17th. The company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.34. The company had revenue of $410.24 million for the quarter, compared to analyst estimates of $424.08 million. J & J Snack Foods had a net margin of 4.14% and a return on equity of 8.73%. J & J Snack Foods’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter last year, the business earned $1.60 EPS. As a group, equities analysts forecast that J & J Snack Foods will post 4.75 EPS for the current fiscal year.

Insider Buying and Selling at J & J Snack Foods

In other news, Director Kathleen E. Ciaramello bought 540 shares of the firm’s stock in a transaction dated Thursday, November 20th. The stock was acquired at an average cost of $90.56 per share, for a total transaction of $48,902.40. Following the completion of the purchase, the director owned 1,013 shares of the company’s stock, valued at $91,737.28. This trade represents a 114.16% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 20.40% of the company’s stock.

Institutional Trading of J & J Snack Foods

Large investors have recently modified their holdings of the business. Two Sigma Investments LP raised its position in shares of J & J Snack Foods by 962.0% in the 3rd quarter. Two Sigma Investments LP now owns 107,202 shares of the company’s stock valued at $10,301,000 after purchasing an additional 97,108 shares in the last quarter. Qube Research & Technologies Ltd bought a new stake in shares of J & J Snack Foods in the third quarter worth $7,045,000. Ranger Investment Management L.P. increased its position in shares of J & J Snack Foods by 52.4% in the 2nd quarter. Ranger Investment Management L.P. now owns 200,540 shares of the company’s stock worth $22,743,000 after purchasing an additional 68,916 shares during the last quarter. First Trust Advisors LP raised its stake in J & J Snack Foods by 19.9% during the third quarter. First Trust Advisors LP now owns 404,461 shares of the company’s stock valued at $38,865,000 after buying an additional 67,028 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of J & J Snack Foods by 3.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,688,261 shares of the company’s stock valued at $200,143,000 after acquiring an additional 58,917 shares in the last quarter. 76.04% of the stock is currently owned by institutional investors and hedge funds.

About J & J Snack Foods

J & J Snack Foods (NASDAQ: JJSF) is a U.S.-based manufacturer and distributor of branded snack foods and frozen beverages. Headquartered in Pennsauken, New Jersey, the company develops, produces and markets a broad array of proprietary and licensed products for retail, concession and foodservice customers. Its offerings span soft pretzels, frozen novelties, real Italian ice, churros and packaged beverages under well-known names such as ICEE, SuperPretzel, Luigi’s and ChurroMan.

Founded in 1971 by Gerald B.