Price Target Update on Sysco Corporation (NYSE:SYY)

Sysco Corporation (NYSE:SYY) has been rated by 6 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $55 and the lowest price target forecast is $40. The average forecast of all the analysts is $47.33 and the expected standard deviation is $5.92.

Other Equity analysts have also commented on the company shares. Equity analysts at the Brokerage firm Credit Suisse maintains its rating on Sysco Corporation (NYSE:SYY). The rating major has initiated the coverage with outperform rating on the shares. The Analysts at Credit Suisse raises the price target from $52 per share to $55 per share. The rating by the firm was issued on May 5, 2016.

Sysco Corporation (NYSE:SYY): stock turned positive on Thursday. Though the stock opened at $50.18, the bulls momentum made the stock top out at $50.42 level for the day. The stock recorded a low of $50.1 and closed the trading day at $50.29, in the green by 0.64%. The total traded volume for the day was 3,526,952. The stock had closed at $49.97 in the previous days trading.

The company shares have rallied 30.47% from its 1 Year high price. On May 12, 2016, the shares registered one year high at $50.68 and the one year low was seen on Jul 7, 2015. The 50-Day Moving Average price is $49.14 and the 200 Day Moving Average price is recorded at $45.03. On the companys insider trading activities, The Securities and Exchange Commission has divulged that Delaney William J Iii, director officer (Chief Executive Officer) of Sysco Corp, had unloaded 20,114 shares at an average price of $48.5 in a transaction dated on June 15, 2016. The total value of the transaction was worth $975,529.

Sysco Corporation (Sysco) along with its subsidiaries and divisions, is a North American distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company provides products and related services to approximately 425,000 customers, including restaurants, healthcare and educational facilities, lodging establishments and other foodservice customers. Sysco provides food and related products to the foodservice or food-away-from-home industry. The Company has aggregated its operating companies into a number of segments, of which only Broadline and SYGMA are the main segments. Broadline operating companies distribute a line of food products and a variety of non-food products to their customers. SYGMA operating companies distribute a line of food products and a variety of non-food products to chain restaurant customer locations. The Companys other segments include its specialty produce, custom-cut meat and lodging industry products segments.

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