For Immediate Release
Chicago, IL – February 1, 2013 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include ConAgra Foods Inc. (CAG), B&G Foods Inc. (BGS), Flowers Foods Inc. (FLO), Ingredion Inc. (INGR) and JA Solar Holdings Co. Ltd. (JASO).
Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513
Here are highlights from Thursday’s Analyst Blog:
ConAgra Acquires Ralcorp
ConAgra Foods Inc. (CAG), a leading food company, successfully acquired Ralcorp Holdings Inc., a branded food company for approximately $6.8 billion, including debt or $90.00 per share in cash.
The acquisition, agreed upon on Nov 26, 2012, received regulatory approvals and Ralcorp shareholders’ sanction and came to a close on Jan 29, 2013. The acquisition was agreed upon on Nov 26, 2012, for $90.0 per share in cash of Ralcorp’s common shares. The price per share implies a 28.2% premium on Ralcorp’s closing share price on November 26.
Subsequent to the acquisition, ConAgra becomes the market leader in packaged foods industry with roughly $18.0 billion in sales annually. Ralcorp posted annual sales of $4.3 billion in fiscal 2012 (ended Sep 2012), compared with ConAgra’s $13.3 billion during its fiscal year 2012 (ended May 2012). The company’s employee strength will increase to over 36,000 workers.
Ralcorp offers a variety of branded foods like cereal, pasta, crackers, jellies and jams, syrups, frozen waffles, combined with meals, entrées, condiments, sides, snacks, and desserts. This reinforces management’s belief that the total private label business would be worth around $4.5 billion annually. The synergistic benefits are likely to be great as ConAgra lacks a significant presence in the markets where Ralcorp primarily operates.
As previously announced, ConAgra is expected to derive cost synergies of about $225 million per year from the acquisition. The acquisition is sponsored through ConAgra’s existing cash, credit facilities as well as new borrowings.
Based in North America, ConAgra is a leader in the branded and value-added foods industry. The stock currently holds a Zacks Rank #2 (Buy). Other stocks worth a look in the industry are B&G Foods Inc. (BGS), Flowers Foods Inc. (FLO) and Ingredion Inc. (INGR); each bearing a Zacks Rank #1 (Strong Buy).
JASO Modules for Volkswagen Plant
JA Solar Holdings Co. Ltd. (JASO) has completed the supply of 9.5 megawatt (“MW”) of PV modules for Volkswagen Solar Park, located in the vicinity of the Volkswagen manufacturing plant at Chattanooga, Tennessee. JA Solar delivered 33,600 high-performance multi-crystalline silicon PV modules that are spread across 33 acres of land.
To date, this will be the biggest solar park in the state of Tennessee. Owned by Silicon Ranch Corp, the solar park is designed and constructed by Phoenix Solar Inc. On an annual basis, the facility is expected to produce 13.1 GWh of electricity.
Per a 20-year power purchase agreement, the electricity generated by the solar park will be sold to Volkswagen. Volkswagen's Chattanooga manufacturing plant will utilize 100% of the electricity produced. The solar park has a capacity to meet 12.5% of the electricity needs of the manufacturing plant during its peak production period and 100% of the needs during non-production periods.
Since 2011, Phoenix and Silicon Ranch have been working together for the development and implementation of photovoltaic (“PV”) plants in southeast US. In Feb 2012, both had entered into a partnership to build a 200-kilowatt solar system on the roof of the Second Harvest Food Bank of Middle Tennessee.
The US is one of the fastest growing markets in the global solar industry. Many a US energy company is showing a keen interest in solar products in order to meet their renewable energy standards required by the Environmental Protection Agency.
Want more from Zacks Equity Research? Subscribe to the free Profit from the Pros newsletter: http://at.zacks.com/?id=5515.
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today: http://at.zacks.com/?id=5517
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leon Zacks. As a PhD from MIT Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros at http://at.zacks.com/?id=5518.
Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Follow us on Twitter: http://twitter.com/zacksresearch
Join us on Facebook: http://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts
Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.
Zacks Investment Research
800-767-3771 ext. 9339
More From Zacks.com