SYSCO (NYSE:SYY)‘s stock had its “neutral” rating reissued by Zacks in a note issued to investors on Tuesday. They currently have a $39.00 price objective on the stock. Zacks‘s price target indicates a potential upside of 4.39% from the stock’s previous close.
Zacks’ analyst wrote, “Sysco beat the Zacks Consensus Estimate for both earnings and revenues in the first quarter of fiscal 2015. Earnings of $0.52 per share grew 6.1% year over year as an improvement in sales made up for the ongoing cost pressure. Meanwhile, Sysco’s sales grew 6.2% on a year-over-year basis, driven by volume growth and acquisitions. However, currency headwinds and declining gross margin have put pressure on earnings. Overall, we believe in the company’s long-term fundamentals and appreciate its growth strategy and efforts to reduce costs and improve efficiency. We are also looking forward to the completion of the company’s acquisition of US Foods as the deal is expected to increase size and scale, provide significant cost synergies and improve efficiencies. We therefore remain our Neutral recommendation on the stock.”
SYSCO (NYSE:SYY) traded down 0.35% on Tuesday, hitting $37.36. The stock had a trading volume of 2,801,687 shares. SYSCO has a one year low of $32.80 and a one year high of $43.40. The stock’s 50-day moving average is $37.53 and its 200-day moving average is $37.20. The company has a market cap of $21.922 billion and a P/E ratio of 23.73.
SYSCO (NYSE:SYY) last issued its quarterly earnings data on Monday, November 3rd. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by $0.31. The company had revenue of $12.45 billion for the quarter, compared to the consensus estimate of $12.35 billion. During the same quarter in the previous year, the company posted $0.49 earnings per share. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, analysts predict that SYSCO will post $1.89 earnings per share for the current fiscal year.
SYY has been the subject of a number of other recent research reports. Analysts at BMO Capital Markets initiated coverage on shares of SYSCO in a research note on Monday, September 29th. They set an “equal weight” rating and a $40.00 price target on the stock. Finally, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of SYSCO in a research note on Monday, August 18th. They now have a $39.00 price target on the stock, down previously from $40.00. Six analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and a consensus price target of $38.25.
Sysco Corporation (NYSE:SYY), along with its subsidiaries and divisions, is a North American distributor of food and related products primarily to the foodservice or food-away-from-home industry.
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SYSCO (NYSE:SYY)‘s stock had its “neutral” rating reissued by Zacks in a note issued to investors on Tuesday. They currently have a $39.00 price objective on the stock. Zacks‘s price target indicates a potential upside of 4.39% from the stock’s previous close.
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