Kroger Company (KR) Receives a Buy from Credit Suisse

By Austin Angelo

Credit Suisse analyst Judah Frommer reiterated a Buy rating on Kroger Company (KRResearch Report) on December 5 and set a price target of $30.00. The company’s shares closed last Monday at $27.49.

According to TipRanks.com, Frommer is a 4-star analyst with an average return of 7.8% and a 73.7% success rate. Frommer covers the Services sector, focusing on stocks such as US Food Holdings, Sprouts Farmers, and Dollar Tree.

The word on The Street in general, suggests a Hold analyst consensus rating for Kroger Company with a $27.08 average price target, a 0.7% upside from current levels. In a report issued on December 2, Wells Fargo also maintained a Buy rating on the stock with a $31.00 price target.

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Based on Kroger Company’s latest earnings release for the quarter ending October 31, the company reported a quarterly revenue of $27.97 billion and net profit of $263 million. In comparison, last year the company earned revenue of $27.67 billion and had a net profit of $313 million.

Based on the recent corporate insider activity of 126 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of KR in relation to earlier this year.

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The Kroger Co. engages in the operation of retail food and drug stores, multi-department stores, jewellery 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.