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Buyers Accumulating Shares of Flowers Foods on 1.9x Above-Average Volume (FLO)

Published on Wed, 02/27/2013 - 14:11
By Mallory Stone

Flowers Foods's stock is up 4.8% to $29.18 on heavy trading volume. Approximately 1.7 million shares have changed hands today vs. average 30-day volume of 887,000 shares. Unusually high volume can signify a potential turning point or validate a breakout.

Flowers Foods share prices have moved between a 52-week high of $29.26 and a 52-week low of $18.46 and are now trading 58% above that low price at $29.18 per share. The 200-day and 50-day moving averages have moved 0.53% higher and 0.94% higher over the past week, respectively.

There is potential upside of 3.8% for shares of Flowers Foods based on a current price of $29.18 and an average consensus analyst price target of $30.29. Flowers Foods shares have support at the 50-day moving average (MA) of $26.15 and additional support at the 200-day MA of $22.38.

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