J&J Snack Upgraded to Strong Buy - Analyst Blog
01 Febbraio 2013 - 4:20PM
Zacks
Zacks Investment Research upgraded
J&J Snack Foods (JJSF) to a Zacks Rank #1
(Strong Buy) on Jan 30, 2013.
Why the
Upgrade?
On Jan 28, 2013, J&J Snack Foods reported a solid first quarter
of fiscal 2013 (ended Dec 29, 2012) financial results. Earnings per
share of 54 cents were 86% above the year-ago earnings and 22.7%
above the Zacks Consensus Estimate of 44 cents.
Revenue increased by 11% to $172.7 million on the back of strong
growth in foodservice and frozen beverage businesses. Sales in the
Food Service segment were driven primarily by improvement in soft
pretzels, churros and bakery product sales while Frozen Beverages
revenue grew as sales of beverages as well as machines
increased.
Operating margin in the quarter stood at 7.9%, up 300 basis points
year over year. Slight increase in cost of sales and operating
expenses were more than offset by higher revenue growth.
Four straight quarters of positive earnings surprise, with the
average being 13.5%, raises optimism for a better quarter ahead.
For the second quarter and fiscal year 2013, we have an Earnings
ESP (Read: Zacks Earnings ESP: A Better Method) of +5.0% and +2.8%,
respectively.
Following the first quarter results, in the last 7 days, the Zacks
Consensus Estimate for fiscal 2013 increased by 4.1% to $3.27 while
that for fiscal 2014 went up 4.5% to $3.51.
Other Stocks to Consider
The stock currently bears a Zacks Rank #1 (Strong Buy). Other
stocks worth a look in the industry are B&G Foods
Inc. (BGS), Flowers Foods, Inc (FLO) and
Ingredion Incorporated (INGR), each holding a
Zacks Rank #1 (Strong Buy).
B&G FOODS CL-A (BGS): Free Stock Analysis Report
FLOWERS FOODS (FLO): Free Stock Analysis Report
INGREDION INC (INGR): Free Stock Analysis Report
J&J SNACK FOODS (JJSF): Free Stock Analysis Report
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Zacks Investment Research
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