Analysts Recommend “Moderate Buy” on Sovos Brands, with $20.44 Target Price
July 8, 2023
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SOVOS ($NASDAQ:SOVO) Brands Inc., an American consumer goods company, has received a “Moderate Buy” rating from analysts based on the opinions of eight ratings firms that are presently covering the company. They have set a consensus target price of $20.44 for the company. The company is a leading global manufacturer and distributor of products in a variety of consumer product categories, including health and beauty, food and beverage, paper and plastic, and automotive. SOVOS Brands Inc. is known for its strong commitment to providing quality products and services to customers around the world. The company has a strong portfolio of brands, which are widely distributed across a broad network of customers. Its products are developed in close collaboration with customers and are designed to meet their needs. The company has an extensive distribution network which includes retail stores, online retailers, distributors and wholesalers.
SOVOS Brands Inc. has also established itself as a leader in developing innovative products and services in its respective markets, including health and beauty, automotive, food and beverage, and paper and plastic products. Moreover, the company is dedicated to creating value for its customers by offering quality products at competitive prices. Analysts have given SOVOS Brands Inc. a “Moderate Buy” rating with a consensus target price of $20.44. This is based on the opinions of eight ratings firms that are presently covering the company. Investors should take this recommendation into consideration when making their own decisions about investing in SOVOS Brands Inc.
Stock Price
The stock opened at $19.8 and closed at $19.4, a decline of 2.3% from the previous closing price of 19.8. This marks a slight dip in the share price of the company as compared to the previous day when the stock ended higher. The recommendation by analysts comes at a critical time for Sovos Brands, Inc., when it is looking to build on the momentum it has gained in the past year and further strengthen its standing in the market. Despite the decline in the share price, the analysts have given the company their full support and are confident that it will continue to grow and succeed in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Sovos Brands. More…
| Total Revenues | Net Income | Net Margin |
| 921.23 | -49.66 | 2.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Sovos Brands. More…
| Operations | Investing | Financing |
| 51.37 | 32.19 | -0.07 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Sovos Brands. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.17k | 677.06 | 4.83 |
Key Ratios Snapshot
Some of the financial key ratios for Sovos Brands are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 31.3% | – | -3.2% |
| FCF Margin | ROE | ROA |
| 4.7% | -3.9% | -1.6% |
Analysis
At GoodWhale, we’ve conducted an analysis of the fundamentals of SOVOS BRANDS and found that it is a high risk investment in terms of financial and business aspects. We have identified three risk warnings in its income sheet, balance sheet, and cashflow statement, which investors should take into account before making any decisions. To learn more about the risks associated with investing in SOVOS BRANDS, please visit our website at goodwhale.com. We offer detailed reports and analyses of various investments, including SOVOS BRANDS, so you can make an informed decision about your investments. More…
Peers
In the world of plant-based foods, there are many companies vying for market share. Sovos Brands Inc is one such company, and it competes with The Planting Hope Co Inc, Tattooed Chef Inc, and Tofutti Brands Inc, among others. Each company has its own unique products and strategies, and the competition between them is fierce.
– The Planting Hope Co Inc ($TSXV:MYLK)
The Planting Hope Co Inc. is a publicly traded company with a market capitalization of $53.57 million as of 2022. The company has a return on equity of -671.83%. The company is engaged in the business of providing services to the horticultural industry.
– Tattooed Chef Inc ($NASDAQ:TTCF)
Tattooed Chef Inc is a food and beverage company with a focus on healthy, sustainable, and delicious products. The company has a market capitalization of $362 million and a return on equity of -21.74%. Tattooed Chef Inc’s products are available in major retailers across the United States and Canada. The company’s mission is to provide consumers with healthy and delicious food and beverages that are sustainable and environmentally responsible.
– Tofutti Brands Inc ($OTCPK:TOFB)
Tofutti Brands Inc is a food company that manufactures and markets dairy-free and lactose-free food products. The company’s products include frozen desserts, cheese substitutes, and cream cheese substitutes. Tofutti Brands Inc’s products are available in the United States, Canada, Europe, and Asia. The company was founded in 1981 and is headquartered in Cranford, New Jersey.
Summary
Recently, analysts have rated Sovos Brands, Inc. as a “Moderate Buy” and given it a consensus target price of $20.44. This rating suggests that the stock is expected to outperform the market in the near future. Investors should do their own research and analysis before making any investment decisions, as investing in stocks can be risky. They should consider factors such as the company’s competitive advantages, performance, financial health and valuation.
Additionally, investors should be aware of any news or events that may affect the stock’s performance.
