Dean Foods, Ingersoll-Rand: S&P Gainers
NEW YORK (TheStreet) - Dean Foods
The S&P 500 fell 9.14 points, or 0.67%, to close at 1,354.58.
Shares of Dean Foods rose 11.24% to $14.15. The food products company reported first-quarter earnings excluding certain items of $57 million, or 31 cents a share. This topped Wall Street's consensus estimate of 21 cents a share in earnings.
Dean Foods' stock hit a 52-week high Wednesday of $14.45. The stock's 52-week low of $7.83 was set on June 6.
The shares trade at an estimated price-to-earnings ratio for next year of 11.86X; the average for food products companies is 17.56X. For comparison, Ralcorp
Seven of the 13 analysts who cover Dean Foods rate it at hold. Five analysts give the stock a buy rating and one rates it at sell.
The stock has risen 26.34% year to date.
Ingersoll-Rand shares increased 5.37% Wednesday to $44.54. Trian Fund Management announced Wednesday it's accumulated a 7.33% stake in the industrial company.
Ingersoll-Rand's stock currently trades at a forward P/E of 12.2X.
Twelve of the 22 analysts who cover Ingersoll-Rand rate it at buy; 10 analysts give the stock a hold rating.
The stock has risen 46.18% year to date.
--Written by Alexandra Zendrian in New York.
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