NutriSystem (NASDAQ:NTRI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm currently has a $58.00 target price on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 8.21% from the company’s current price.
According to Zacks, “Nutrisystem, Inc. is a leader in the weight loss industry, having helped millions of people loses weight. From the flagship Nutrisystem brand comes the clinically-tested Nutrisystem Lean13 program, designed to deliver weight loss of up to 13 pounds and seven inches in the first month. South Beach Diet became an all-new structured meal delivery weight-loss program following the acquisition of the brand. Additional Nutrisystem branded weight-loss products include Fast 5 and Turbo 10, as well as multi-day kits and individual products at select retail outlets. “
Other equities analysts have also recently issued research reports about the company. Lake Street Capital set a $73.00 price target on NutriSystem and gave the stock a “buy” rating in a report on Thursday, October 26th. BidaskClub cut NutriSystem from a “buy” rating to a “hold” rating in a report on Saturday, August 26th. Finally, B. Riley set a $74.00 price target on NutriSystem and gave the stock a “buy” rating in a report on Thursday, October 26th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $67.44.
NutriSystem (NASDAQ:NTRI) last announced its quarterly earnings data on Wednesday, October 25th. The company reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.03. NutriSystem had a return on equity of 49.69% and a net margin of 8.27%. The company had revenue of $158.10 million during the quarter, compared to analysts’ expectations of $155.21 million. During the same quarter last year, the company earned $0.27 EPS. NutriSystem’s revenue for the quarter was up 26.9% compared to the same quarter last year. equities analysts forecast that NutriSystem will post 1.95 earnings per share for the current year.
NutriSystem announced that its Board of Directors has initiated a share repurchase program on Wednesday, October 25th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
In other news, Director Jay Herratti sold 3,799 shares of the business’s stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $60.00, for a total transaction of $227,940.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael P. Monahan sold 11,335 shares of the business’s stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $55.03, for a total value of $623,765.05. Following the sale, the chief financial officer now owns 55,933 shares of the company’s stock, valued at approximately $3,077,992.99. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,134 shares of company stock valued at $1,913,045. Corporate insiders own 2.40% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Aperio Group LLC raised its position in NutriSystem by 8.8% during the second quarter. Aperio Group LLC now owns 9,701 shares of the company’s stock valued at $505,000 after purchasing an additional 781 shares in the last quarter. Great West Life Assurance Co. Can raised its position in NutriSystem by 3.5% during the second quarter. Great West Life Assurance Co. Can now owns 44,055 shares of the company’s stock valued at $2,293,000 after purchasing an additional 1,500 shares in the last quarter. SG Americas Securities LLC acquired a new position in NutriSystem during the second quarter valued at approximately $199,000. Alps Advisors Inc. raised its position in NutriSystem by 0.3% during the second quarter. Alps Advisors Inc. now owns 9,812 shares of the company’s stock valued at $511,000 after purchasing an additional 25 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in NutriSystem by 2.3% during the second quarter. Bank of New York Mellon Corp now owns 508,051 shares of the company’s stock valued at $26,445,000 after purchasing an additional 11,553 shares in the last quarter. Institutional investors own 92.48% of the company’s stock.
Nutrisystem, Inc is a provider of weight management products and services, including nutritionally balanced weight loss programs, multi-day kits available at retail locations and digital tools to support weight loss. The Company’s program customers purchase monthly food packages containing four-week meal plan consisting supply of breakfasts, lunches, dinners and snacks and flex meal plan recipes, which they supplement with fresh fruits, vegetables and dairy.
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