Oppenheimer Remains a Hold on Kroger Company (KR)

By Ryan Adsit

Oppenheimer analyst Rupesh Parikh maintained a Hold rating on Kroger Company (KRResearch Report) today and set a price target of $31. The company’s shares closed on Tuesday at $28.64.

Parikh wrote:

“We overall view the Q3 results as right in the middle of the bull and bear debates. In the bull camp, management continues to meet bottom-line expectations even with sluggish top-line growth, and reiterated fairly bullish 2020 KR Restock targets that investors still do not fully believe. In the bear camp, ID sales growth still remains muted with an increase of 1.6% very slightly below Street expectations of 1.7%. However, on a two-year stacked basis, ID sales trends did improve suggesting continued stabilization in the business. Management reaffirmed FY18 guidance, which suggests the potential for a below-consensus Q4 delivery. KR very much remains on our radar, and we are closely watching efforts to drive a top line and profitability turn from here.”

According to TipRanks.com, Parikh is a 5-star analyst with an average return of 15.6% and a 61.3% success rate. Parikh covers the Services sector, focusing on stocks such as Blue Apron Holdings Inc, United Natural Foods, and Wal-Mart Stores Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Kroger Company with a $30.70 average price target, representing a 7.2% upside. In a report issued on December 4, Pivotal Research also reiterated a Hold rating on the stock with a $31 price target.

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The company has a one-year high of $32.74 and a one-year low of $22.85. Currently, Kroger Company has an average volume of 8.99M.

Based on the recent corporate insider activity of 117 insiders, corporate insider sentiment is negative on the stock.

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The Kroger Co. engages in the operation of retail food and drug stores, multi-department stores, jewelry stores, and convenience stores. It also manufactures and processes some of the food for sale in its supermarkets. The combination food and drug Stores are the primary food store format.