J&J Snack Foods Corp.
by Michael VodickaJuly 28, 2011 | Comments : 0 Recommended this article: (0)
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J&J Snack Foods Corp, together with its subsidiaries, manufactures nutritional snack foods and distributes frozen beverages to the food service and retail supermarket industry in the US, Canada and Mexico. The company was founded in 1971 and has a market cap of $978 million.
JJSF has been trending higher for most of the last 12 months, but shares jumped into a new all-time high in late July after the company reported strong Q2 results that came in ahead of expectations.
Revenue for the period was up 9% from last year to $206 million. Earnings also looked good, coming in at 89 cents, 6% ahead of the Zacks Consensus Estimate.
The company noted that when including what it classifies as "bargain purchases" of several frozen food lines from Conagra, earnings totaled $1.24.
J&J has been using its earnings momentum to strengthen its balance sheet, with cash and short-term investments up $24 million from last year to $105 million against no long-term debt.
Estimates did rise off the good quarter, with the current year up 3 cents to $2.57 while the next-year estimate added 3 cents to $2.78, a solid 8% growth projection.
But in spite of the gains, JJSF still looks reasonably priced, trading with a forward P/E of 21X, a slight premium to its peer average of 19X.
On the chart, JJSF has been grinding higher for most of the last 12 months, recently jumping into a new all-time high on the good quarter. Take a look below.
Michael Vodicka is the Momentum Stock Strategist for Zacks.com. He is also the Editor in charge of the Zacks Momentum Trader Service.
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