Bank of America Lowers Tyson Foods (NYSE:TSN) Price Target to $60.00

Tyson Foods (NYSE:TSN) had its price target lowered by equities researchers at Bank of America from $62.00 to $60.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Bank of America‘s price target indicates a potential upside of 5.50% from the stock’s current price.

A number of other analysts have also recently commented on the stock. Piper Sandler boosted their target price on shares of Tyson Foods from $55.00 to $57.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 7th. HSBC lifted their price target on Tyson Foods from $48.00 to $51.00 and gave the stock a “reduce” rating in a research note on Tuesday, May 7th. BMO Capital Markets increased their price objective on Tyson Foods from $55.00 to $58.00 and gave the company a “market perform” rating in a research note on Tuesday, May 7th. Citigroup lifted their target price on shares of Tyson Foods from $57.00 to $62.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. Finally, StockNews.com raised shares of Tyson Foods from a “hold” rating to a “buy” rating in a report on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Tyson Foods presently has a consensus rating of “Hold” and an average price target of $60.00.

Tyson Foods Price Performance

NYSE:TSN opened at $56.87 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.77 and a quick ratio of 0.87. The company has a 50 day moving average price of $57.62 and a 200-day moving average price of $56.49. Tyson Foods has a 1-year low of $44.94 and a 1-year high of $62.04. The firm has a market cap of $20.30 billion, a price-to-earnings ratio of -31.95, a price-to-earnings-growth ratio of 0.40 and a beta of 0.74.

Tyson Foods (NYSE:TSN) last released its quarterly earnings data on Monday, May 6th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.23. The company had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $13.16 billion. Tyson Foods had a negative net margin of 1.16% and a positive return on equity of 3.53%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.04) earnings per share. Equities research analysts forecast that Tyson Foods will post 2.6 EPS for the current year.

Institutional Investors Weigh In On Tyson Foods

Several large investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC increased its holdings in Tyson Foods by 13.2% in the first quarter. EverSource Wealth Advisors LLC now owns 1,699 shares of the company’s stock valued at $103,000 after buying an additional 198 shares during the last quarter. Ridgewood Investments LLC increased its holdings in shares of Tyson Foods by 0.8% in the 1st quarter. Ridgewood Investments LLC now owns 25,741 shares of the company’s stock valued at $1,512,000 after acquiring an additional 199 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its position in shares of Tyson Foods by 47.4% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 647 shares of the company’s stock valued at $35,000 after acquiring an additional 208 shares in the last quarter. Lindbrook Capital LLC lifted its stake in Tyson Foods by 42.0% during the first quarter. Lindbrook Capital LLC now owns 724 shares of the company’s stock worth $43,000 after purchasing an additional 214 shares during the last quarter. Finally, Spire Wealth Management boosted its holdings in Tyson Foods by 21.7% in the fourth quarter. Spire Wealth Management now owns 1,340 shares of the company’s stock worth $71,000 after purchasing an additional 239 shares during the period. Hedge funds and other institutional investors own 67.00% of the company’s stock.

Tyson Foods Company Profile

Tyson Foods, Inc, together with its subsidiaries, operates as a food company worldwide. It operates through four segments: Beef, Pork, Chicken, and Prepared Foods. The company processes live fed cattle and hogs; fabricates dressed beef and pork carcasses into primal and sub-primal meat cuts, as well as case ready beef and pork, and fully cooked meats; raises and processes chickens into fresh, frozen, and value-added chicken products, including breaded chicken strips, nuggets, patties, and other ready-to-fix or fully cooked chicken parts; and supplies poultry breeding stock.