Sysco (NYSE:SYY) Lifted to Strong-Buy at StockNews.com

Sysco (NYSE:SYY) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Wednesday.

Several other equities research analysts have also recently issued reports on SYY. Barclays lifted their price objective on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Jefferies Financial Group lifted their price target on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. increased their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Morgan Stanley lowered their target price on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. Finally, Bank of America reduced their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Sysco currently has an average rating of “Moderate Buy” and an average target price of $86.08.

Sysco Stock Down 0.4 %

Sysco stock opened at $77.74 on Wednesday. The company has a debt-to-equity ratio of 6.19, a current ratio of 1.20 and a quick ratio of 0.69. The stock has a market capitalization of $38.21 billion, a PE ratio of 18.96, a price-to-earnings-growth ratio of 2.02 and a beta of 1.20. The business has a 50 day simple moving average of $76.39 and a 200-day simple moving average of $75.37. Sysco has a 12 month low of $62.24 and a 12 month high of $82.89.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.38 by $0.01. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The company had revenue of $20.56 billion during the quarter, compared to analyst estimates of $20.51 billion. During the same quarter in the previous year, the firm earned $1.34 EPS. The firm’s revenue was up 4.2% compared to the same quarter last year. On average, analysts anticipate that Sysco will post 4.6 EPS for the current fiscal year.

Institutional Investors Weigh In On Sysco

Hedge funds and other institutional investors have recently bought and sold shares of the company. TruNorth Capital Management LLC acquired a new stake in Sysco during the second quarter worth about $25,000. OFI Invest Asset Management purchased a new position in shares of Sysco in the first quarter valued at approximately $31,000. Fairscale Capital LLC purchased a new position in shares of Sysco in the second quarter valued at approximately $38,000. Fairman Group LLC purchased a new position in shares of Sysco in the fourth quarter valued at approximately $39,000. Finally, Livelsberger Financial Advisory purchased a new position in shares of Sysco in the fourth quarter valued at approximately $44,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Company Profile

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.