Bob Evans Farms

Bob Evans making investments on several fronts

The company is rolling out a new design for its restaurants, but its biggest investment locally won’t be in those buildings. That distinction goes to its decision to move its headquarters in 2013 from the south side of Columbus to New Albany. With the move disclosed in March , the company is getting an assortment of government incentives to expedite the relocation, including $10 million in property tax abatements and loans from New Albany and a payroll tax rebate from the state.

CEO Steve Davis , noting Bob Evans generates $34 million in tax revenue for the state, said the move is necessary because the company is constricted at its South High Street home office, which includes the main office building as well as offices in former Southland Mall space, which the company owns.

“We’re out of space,” he said. “We want the ability to better collaborate in the new campus. We’re so chopped up and fragmented that’s not easy to do today.”

The company will be moving almost 300 jobs and has pledged to create 150 new positions. It is now designing the complex.

“We want a consistent look. We’ll have farm north and farm south,” he said, referring to the Bob Evans Farm and homestead in Rio Grande.

Miller Tabak Analysts Downgrade Bob Evans Farms, Inc. (BOBE ...

Equities research analysts at Miller Tabak downgraded shares of Bob Evans Farms, Inc. (NASDAQ: BOBE) from a “buy” rating to a “hold” rating in a research note to investors on Tuesday. The analysts noted that the move was a valuation call.

Separately, analysts at Zacks Investment Research reiterated a “neutral” rating on shares of Bob Evans Farms, Inc. in a research note to investors on Wednesday, March 2nd.

Shares of Bob Evans Farms, Inc. traded down 0.75% during mid-day trading on Wednesday, hitting $34.58. Bob Evans Farms, Inc. has a 52 week low of $23.10 and a 52 week high of $35.13. The stock’s 50-day moving average is $32.01 and its 200-day moving average is $32.13. The company has a market cap of $1.045 billion and a price-to-earnings ratio of 19.57.

Bob Evans Farms, Inc. last announced its quarterly results on Tuesday, June 7th. The company reported $0.60 earnings per share (EPS) for the previous quarter, missing the Thomson Reuters consensus estimate of $0.66 EPS by $0.06. The company’s quarterly revenue was down 5.4% on a year-over-year basis. On average, analysts predict that Bob Evans Farms, Inc. will post $0.57 EPS next quarter.

Bob Evans Farms, Inc. (Bob Evans) is a full-service restaurant company that operates two restaurant concepts: Bob Evans Restaurants and Mimi’s Cafes. The Company is also a producer and distributor of pork sausage and homestyle convenience food items. As of April 30, 2010, Bob Evans Restaurants were located in 18 states, primarily in the Midwest, mid-Atlantic and Southeast, and Mimi’s Cafes were located in 24 states, primarily in California and other western states. Bob Evans offers a variety of quality, homestyle food products to retail and foodservice customers. It sells its retail food products under the Bob Evans and Owens brand names. The Company’s food products include 100 varieties of fresh, smoked and fully cooked pork sausage and hickory-smoked bacon products. It also offers 100 complementary, convenience food items in the refrigerated and frozen areas of grocery stores, such as mashed potatoes, macaroni and cheese, microwaveable sandwiches and slow-roasted main dish entrees.

Stay on top of analysts' coverage with American Banking & Market News' daily email newsletter that provides a concise list of analysts' upgrades, analysts' downgrades and analysts' price target changes for each day. Click here to register .

Bob Evans Farms, Inc, fine family restaurants and farm fresh sausage

International Directory of Company Histories

International Directory of Company Histories

Bob Evans Farms, Inc, fine family restaurants and farm fresh sausage

America's growth stocks, the 169 strongest performers