Selected stock price target news of the day - April 8th, 2024

By: Matthew Otto

Kura Sushi Reports Fiscal Q2 2024 Earnings Amidst Industry Challenges

Kura Sushi USA has reported its fiscal second quarter 2024 earnings, with total sales reaching $57.3 million, marking a 30% increase compared to the prior year period. Kura Sushi managed to achieve a 3% comparable sales growth.

Kura Sushi reported adjusted EBITDA of $2.9 million and a liquidity position with $56.8 million in cash and no debt. Looking forward, Kura Sushi raised its guidance for fiscal year 2024, expecting total sales to be between $243 million and $246 million, and projecting the opening of 13 to 14 new units.

Analysts Provide Mixed Outlook with Diverse Price Targets

Roth MKM’s George Kelly maintained a Buy rating and increased the price target from $87 to $120.
Craig-Hallum’s Jeremy Hamblin reiterated a Buy rating and a $130 price target.
Barclays’ Jeffrey Bernstein reiterated an Equal-Weight rating yet raised the price target from $82 to $95.
Citigroup’s Jon Tower maintained a Neutral rating yet adjusted the price target from $122 to $124.
Lake Street’s Mark Smith kept a Hold rating and lifted the price target from $70 to $93.

Which Analyst has the best track record to show on KRUS ?

Analyst Jeremy Hamblin (CRAIG HALLUM) currently has the highest performing score on KRUS with 14/15 (93.33%) price target fulfillment ratio. His price targets carry an average of $18.63 (16.73%) potential upside. Kura Sushi USA stock price reaches these price targets on average within 63 days.

Simply Good Foods Fiscal Q2 Surge: Quest Leads Growth Amidst Challenges for Atkins

The Simply Good Foods Company’s fiscal second-quarter report reveals a 5.3% surge in net sales, amounting to $312.2 million. Primarily propelled by the performance of its Quest brand and a gross margin increase of 280 basis points to 37.4%.

Quest experienced a 13.1% spike in retail takeaway across measured channels, with e-commerce POS growing by approximately 14%. On the other hand, Atkins encountered challenges as its retail takeaway in the IRI MULO + C-store universe and combined measured and unmeasured channels saw declines of 11% and 8%, respectively. Nevertheless, Atkins witnessed a 13% growth in e-commerce POS, contributing to an increase in total e-commerce retail sales, surpassing $2 million per week.

Looking forward, the company anticipates net sales growth to hover around the midpoint of its long-term algorithm of 4% to 6%, with adjusted EBITDA projected to climb by 6% to 8% driven by gross margin expansion, potentially reaching 39% in the second half of the fiscal year.

Analysts Ratings and Price Targets Adjusted Amid Market Shifts

Mizuho analyst John Baumgartner maintained a Buy rating and lowered the price target from $50 to $40.
DA Davidson analyst Brian Holland maintained a Neutral rating yet lowered the price target from $39 to $34.
Needham analyst Matt McGinley maintained a Buy rating yet decreased the price target from $45 to $41.

Which Analyst has the best track record to show on SMPL?

Analyst Brian Holland (D.A. DAVIDSON) currently has the highest performing score on SMPL with 9/11 (81.82%) price target fulfillment ratio. His price targets carry an average of $2.91 (7.08%) potential upside. Simply Good Foods Company stock price reaches these price targets on average within 213 days.

Conagra Brands Surpasses Expectations with Fiscal Q3 Earnings Amidst Industry Challenges

Conagra Brands reported fiscal third-quarter earnings, reporting earnings of 69 cents per share, surpassing analysts’ projections of 65 cents per share. Revenue for the quarter stood at $3.03 billion, edging past expectations of $3 billion. This represents a 9% decline in earnings and a 2% drop in sales compared to the previous year. Sales for Conagra’s grocery and snacks segment saw an uptick of 3.4%, showcasing the effectiveness of strategic investments in advertising and promotions, particularly within the frozen category.

Nonetheless, Conagra confronts ongoing challenges within its refrigerated and frozen segment, where sales dipped by 8.1%, primarily due to price adjustments. The company’s efforts to stimulate volume growth incurred additional expenses, nudging the adjusted operating margin slightly down to 16.4% from the previous year’s 16.9%.

Looking ahead, management remains cautiously optimistic, expecting margins for the full fiscal year ending in May to rise to 15.8%, a slight improvement from the initial estimate of 15.6%. Conagra forecast a decline in earnings per share for the current fourth quarter, ranging between 54 cents to 59 cents compared to the consensus estimate of 59 cents.

Analysts Hold Steady, Raise Price Targets Amid Fiscal Q3 Results

Stifel analyst Matthew Smith maintained a Hold rating and raised the price target from $29 to $32.
Wells Fargo analyst Chris Carey reiterated an Equal-Weight rating and increased the price target from $30 to $32.
Citigroup analyst Thomas Palmer kept a Neutral rating yet raised the price target from $30 to $32.

Which Analyst has the best track record to show on CAG?

Analyst Nik Modi (RBC) currently has the highest performing score on CAG with 7/10 (70%) price target fulfillment ratio. His price targets carry an average of $1.12 (4.02%) potential upside. Conagra Brands stock price reaches these price targets on average within 314 days.