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Watch for Continued Gains in Shares of Flowers Foods (FLO)

Published on Fri, 05/03/2013 - 14:25
By Mallory Stone

Flowers Foods (NYSE:FLO) traded today at a new 52-week high of $33.25. So far today approximately 411,000 shares have been exchanged, as compared to an average 30-day volume of 719,000 shares.

Flowers Foods (NYSE:FLO) defies analysts with a current price ($32.88) 7.9% above its average consensus price target of $30.29. The stock should discover initial support at its 50-day moving average (MA) of $30.82 and subsequent support at its 200-day MA of $24.45.

In the past 52 weeks, shares of Flowers Foods have traded between a low of $18.46 and a high of $33.25 and are now at $32.88, which is 78% above that low price. The 200-day and 50-day moving averages have moved 0.84% higher and 1.25% higher over the past week, respectively.

Flowers Foods, Inc. produces and markets packaged bakery foods for retail and foodservice customers. The Company offers fresh packaged and frozen bakery products as well as pastries, doughnuts and bakery snack products.

By Mallory Stone
mstone@fnno.com