Campbell Soup Company (NYSE:CPB) [Trend Analysis] has kept up with the changing appetite, stock collapsed around -6.38% in early session as it gain volume of 8.52 Million shares, then traded at $59.90. Investors were dumping Campbell Soup shares on back of disappointing quarterly sales. The canned soup company reported third quarter earnings of 65 cents a share ex-items on revenues of $1.87 billion, edging past expectations for 64 cents per share on $1.91 billion in revenue, according to a consensus estimate from Thomson Reuters.
However, Campbell said that U.S. soup sales cooled off 5 percent in the quarter, attributable to weakness in ready-to-serve products and condensed soups. Still, the company said that it saw gains in broth products. Denise Morrison, CEO of Campbell, attributed the company’s sales decline to a “very challenging consumer environment.” “We’re unsatisfied with our third-quarter organic sales growth, which was largely due to a weaker U.S. soup season, some challenges in V8 beverages and a weather-related disruption to our fresh carrot supply,” Morrison said in a statement.
Moving toward the volatility measures, the price volatility of stock was 2.68% for a week and 1.78% for a month as well as price volatility’s Average True Range for 14 days was 1.33. The beta, which indicates risk in relegation to the market, remained 0.38. The firm past twelve months price to sales ratio was 2.47 and price to cash ratio remained 8.16.
Major bullish and bearish trends reflect in rating research, from pool of WSJ analyst gave 65.00 as a highest price target, medium point hits to 60, while the lowest share price targets assigned 50. The data compelled by Wall Street Journal average suggest average price target would by 59.29, where as current price stood at 59.90. Moderately analysts issue miscellaneous recommendation for CPB, as 2 experts rated as “BUY” security, 2 analyst have faith on stocks as “Overweight,” moreover 12 experts rated as “Hold”.
Campbell Soup Company (NYSE:CPB) is ahead its 52 week low with 34.70%and going down from its 52 week high price with -10.26%. The company’s shares performance for the last one month was 0.12% and -9.38% in the previous week. The stock price of firm is moving down from its 20 days moving average with -5.46% and remote isolated negatively from 50 days moving average with -5.39%.