Analysts Set Average Price Target of $114.60 for PFGC Shares

Shares of Performance Food Group Company (NYSE:PFGC) have garnered an average price target of $114.60 from analysts covering the stock, according to data from MarketBeat.com. The consensus rating among the twelve brokerages is classified as a “Moderate Buy.” Specifically, four analysts have issued a hold recommendation, while seven suggest buying the stock, and one has provided a strong buy recommendation.

Recent analyst reports indicate a positive outlook for Performance Food Group. On August 13, 2023, Wells Fargo & Company raised their target price for the company from $100.00 to $115.00, assigning an “overweight” rating. Similarly, Piper Sandler increased their price target from $114.00 to $116.00, also giving the stock an “overweight” rating on November 10, 2023. Truist Financial boosted its price objective from $101.00 to $118.00 with a “buy” rating noted in a research note released on August 14, 2023.

Despite the overall positive trend, Wall Street Zen downgraded Performance Food Group from a “buy” rating to a “hold” rating on October 4, 2023. Guggenheim reaffirmed a “buy” rating and set a price target of $115.00 on August 26, 2023.

PFGC shares opened at $91.51 on Friday, reflecting a 1.6% decline. The stock has experienced a 52-week range between a low of $68.39 and a high of $109.05. The company’s recent performance metrics include a 50-day simple moving average of $98.25 and a 200-day simple moving average of $96.73.

Performance Food Group reported its latest earnings results on November 5, 2023. The food distribution company announced earnings per share (EPS) of $1.18 for the quarter, surpassing the consensus estimate of $1.16 by $0.02. The firm’s revenue reached $17.08 billion, exceeding analyst expectations of $16.87 billion. This represents an increase of 10.8% compared to the same quarter last year, when the company recorded an EPS of $1.16.

Analysts project that Performance Food Group will achieve an EPS of 4.58 for the current fiscal year.

Performance Food Group Company, through its subsidiaries, distributes food and food-related products across the United States. It operates in three segments: Foodservice, Vistar, and Convenience, offering a diverse range of products including frozen foods, groceries, and health and beauty care items.

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