The Bellamy's share price climbed 4.2% today despite the company releasing no news to the market. Its rival a2 Milk Company Ltd (ASX: A2M) milk saw its shares lift 5.2% today on the back of a broker upgrade from Goldman Sachs. Shares in the same sectors will often follow each other higher or lower.
Bellamy's is an Australian producer of organic infant formula products and foods. It offers over 30 different organically certified products, with its core market in Australia.
In financial year 2017 Bellamy's made a net loss of $809,000 on revenues of $240.2 million. No dividend was paid in financial year 2017. Revenues increased by 2% in comparison to the 2016 financial year, while the gross profit decreased by 9.5%.
According to the Financial Times, analysts have an average share price target on Bellamy's of $7.15, with a high estimate of $7.80 and low estimate of $5.10.
Management is forecasting a 5%-10% revenue increase and 15-20% increase in EBIDTA margin in 2018.
