CPB (NYSE:CPF) Raised to “Strong-Buy” at Zacks Research

CPB (NYSE:CPF) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

Other analysts also recently issued reports about the company. Benchmark assumed coverage on CPB in a report on Thursday, July 9th. They issued a “buy” rating and a $44.00 price target for the company. Weiss Ratings upgraded CPB from a “buy (b+)” rating to a “buy (a-)” rating in a report on Thursday, June 18th. Piper Sandler dropped their target price on shares of CPB from $39.00 to $37.00 and set an “overweight” rating for the company in a research report on Thursday, April 2nd. Finally, Keefe, Bruyette & Woods upped their price target on CPB from $36.00 to $37.00 and gave the company a “market perform” rating in a research report on Thursday, April 9th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $39.33.

CPB Price Performance

CPF opened at $39.44 on Tuesday. CPB has a 52-week low of $25.62 and a 52-week high of $40.31. The company has a 50 day moving average of $36.98 and a two-hundred day moving average of $34.34. The company has a market cap of $1.03 billion, a P/E ratio of 12.64 and a beta of 0.84. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13.

CPB (NYSE:CPF) last issued its earnings results on Friday, July 24th. The financial services provider reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. The business had revenue of $77.45 million for the quarter, compared to the consensus estimate of $75.69 million. CPB had a net margin of 22.52% and a return on equity of 14.20%. During the same quarter last year, the firm posted $0.67 EPS. On average, analysts expect that CPB will post 3.36 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of CPB by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 2,079,266 shares of the financial services provider’s stock valued at $64,790,000 after purchasing an additional 24,933 shares during the period. Principal Financial Group Inc. grew its holdings in CPB by 27.1% in the 1st quarter. Principal Financial Group Inc. now owns 162,431 shares of the financial services provider’s stock worth $5,191,000 after buying an additional 34,591 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in CPB in the 4th quarter valued at approximately $3,171,000. Y Intercept Hong Kong Ltd increased its position in CPB by 102.7% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 45,971 shares of the financial services provider’s stock valued at $1,469,000 after acquiring an additional 23,292 shares during the period. Finally, Caxton Associates LLP acquired a new stake in CPB in the 1st quarter valued at approximately $209,000. 88.42% of the stock is owned by institutional investors and hedge funds.

CPB Company Profile

Charoen Pokphand Foods Public Company Limited (NYSE: CPF) is a Thailand?based integrated agro?industrial and food conglomerate. Headquartered in Bangkok, the company is a subsidiary of the Charoen Pokphand Group and has grown into one of the world’s leading producers of livestock feed, meat and seafood products. CPF’s businesses span animal feed milling, animal breeding and hatchery operations, meat and seafood processing, and the distribution of fresh, frozen and value?added food products.

CPF’s product portfolio includes poultry, swine and aquaculture feed; fresh and frozen chicken and pork; shrimp and other seafood; as well as ready?to?eat and ready?to?cook food items.