By Carly Forster
With the hot weather that comes with summer, nothing is tastier than ice cream, especially when it’s homemade. Dean Foods Co (NYSE:DF) is a Dallas, Texas based food and beverage company that focuses on dairy products including fluid milk, ice cream, cultured dairy products, creamers, ice cream mix, and other dairy products. The company has plants and wholesale distributors in the United States and the United Kingdom.
Dean Foods in the News
During the company’s last trading session, Dean Foods Co (NYSE:DF) traded with a volume of 1.83 million shares, compared to their average volume of 2.69 million. Dean Foods also reached one of its lowest price points of $17.22 compared to its 52-week range of $13.59-$22.96.
What Does This Mean for Dean Food’s Stock?
On June 12, KeyBanc analyst Akshay Jagdale reiterated a BUY rating for Dean Foods and raised his price target from $18.00 to $22.00. He reasoned, “we are incrementally confident Dean Foods Co (NYSE:DF) should benefit NT from lower raw milk prices following our KBCM hosted conference call w/ commodities expert Shawn Hackett. Add’ly, we continue to believe Dean Foods has a significant L-T opp’ty to unlock value from the Co.’s distribution network and maintain that the Co. represents an attractive takeout candidate.” Jagdale has a +3.9% average return on all stocks and a 62% success rate in making recommendations.
On the other hand, on June 2 Deutsche Bank analyst Eric Katzman maintained a HOLD rating on the stock and raised his price target from $14.00 to $15.00. He has a +10.1% average return on all stocks and a 70% success rate in making recommendations.
Conclusion
Despite Dean Foods Co (NYSE:DF)’s lower-than-expected numbers, analysts agree the company continues to perform and one should buy or hold their stock.
Carly Forster writes about stock market news. She can be reached at [email protected]
