Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>J&J Snack Foods reported third quarter fiscal 2026 results reflecting ongoing efforts to transform the business amid a challenging cost and sales environment.</li><li>Net sales decreased 6.2% to $426 million, largely driven by a planned reduction in bakery sales, which accounted for more than half of the decline.</li><li>The Frozen Beverage segment experienced a 5.8% sales drop primarily from lower service and machine sales, although beverage volume grew 5.9%, supported by theaters and mass merchandising.</li></ul>

J&J Snack Foods reported third quarter fiscal 2026 results reflecting ongoing efforts to transform the business amid a challenging cost and sales environment.Net sales decreased 6.2% to $426 million, largely driven by a planned reduction in bakery sales, which accounted for more than half of the decline.The Frozen Beverage segment experienced a 5.8% sales drop primarily from lower service and machine sales, although beverage volume grew 5.9%, supported by theaters and mass merchandising.

J&J Snack Unlocks $25 Million In Savings — Project Apollo Gains Momentum!

<ul><li>J&J Snack Foods reported its second quarter fiscal 2026 results with mixed performance indicators.</li><li>The company posted a 3.2% decline in sales to $344.8 million, primarily due to softness in demand amplified by rising fuel costs.</li><li>Foodservice segment sales fell 5%, largely driven by expected reductions in the lower-margin bakery business and decreased cookie sales to a major customer managing elevated inventory levels.</li></ul>

J&J Snack Foods reported its second quarter fiscal 2026 results with mixed performance indicators.The company posted a 3.2% decline in sales to $344.8 million, primarily due to softness in demand amplified by rising fuel costs.Foodservice segment sales fell 5%, largely driven by expected reductions in the lower-margin bakery business and decreased cookie sales to a major customer managing elevated inventory levels.

J&J Snack Foods’ Frozen Beverage Growth: Can ICEE Help Stabilize The Story?

<ul><li>J&J Snack Foods Corp. delivered a mixed set of results that reflected both near-term operational pressures and a deliberate repositioning of the business toward improved efficiency and portfolio focus.</li><li>Fourth-quarter net sales declined 3.9% year over year to $410.2 million, with more than half of the decline attributable to the frozen beverage segment as the company lapped unusually strong theater-related volumes from the prior year.</li><li>Adjusted EBITDA of $57.4 million was modestly lower than last year, while full-year sales increased 0.5% to $1.58 billion, supported by pricing actions that partially offset volume softness.</li></ul>

J&J Snack Foods Corp. delivered a mixed set of results that reflected both near-term operational pressures and a deliberate repositioning of the business toward improved efficiency and portfolio focus.Fourth-quarter net sales declined 3.9% year over year to $410.2 million, with more than half of the decline attributable to the frozen beverage segment as the company lapped unusually strong theater-related volumes from the prior year.Adjusted EBITDA of $57.4 million was modestly lower than last year, while full-year sales increased 0.5% to $1.58 billion, supported by pricing actions that partially offset volume softness.

J&J Snack Foods Is Rewiring Its Cost Structure With a Bold Manufacturing Reset; Will It Work?

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>In last week's Compass (Aug. 23) we discussed the increasing odds for a deeper pullback in the broad market indexes.</li>
<li>This was due to 5-week uptrend breaks on the SPX, NDX, and Russell 2000, the Fed tightening, and with Treasury yields, the U.S. dollar (DXY), and commodities (DJP) inflecting higher.</li>
<li>The market remains in pullback mode; the SPX, NDX, and Russell 2000 are all approaching 50-day MA support, the first big area of interest on this pullback.</li>
</ul>


In last week's Compass (Aug. 23) we discussed the increasing odds for a deeper pullback in the broad market indexes.
This was due to 5-week uptrend breaks on the SPX, NDX, and Russell 2000, the Fed tightening, and with Treasury yields, the U.S. dollar (DXY), and commodities (DJP) inflecting higher.
The market remains in pullback mode; the SPX, NDX, and Russell 2000 are all approaching 50-day MA support, the first big area of interest on this pullback.


Headwinds Persist, Including Rising DXY, 10-Yr Treasury Yield, & Commodities; Buying Staples, Solar

<p>We remain concerned about the prospect for additional weakness for the broad market due to deterioration in several metrics that we often turn to to get a pulse on the market. At the same time, several cyclical areas of the market have bounced off of logical support while RS has been unable to break out to new highs for defensive Sectors. Absent bearish price inflections in the cyclicals and new RS highs for defensive areas of the market, equities are likely to remain in a state of purgatory.  In today’s report we highlight attractive Groups and stocks within Consumer Staples, Health Care, and Utilities.</p>

We remain concerned about the prospect for additional weakness for the broad market due to deterioration in several metrics that we often turn to to get a pulse on the market. At the same time, several cyclical areas of the market have bounced off of logical support while RS has been unable to break out to new highs for defensive Sectors. Absent bearish price inflections in the cyclicals and new RS highs for defensive areas of the market, equities are likely to remain in a state of purgatory.  In today’s report we highlight attractive Groups and stocks within Consumer Staples, Health Care, and Utilities.

U.S. Equity Strategy: Market Still Susceptible

United States

J & J Snack Foods Corp. manufactures, markets, and distributes a variety of snack foods and beverages for the food service and retail supermarket industries.  The Company's products include soft pretzels, frozen carbonated beverages, frozen juice bars and desserts, churros, funnel cakes, cookies, and bakery products.

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J & J Snack Foods (JJSF US)

J&J Snack Unlocks $25 Million In Savings — Project Apollo Gains Momentum!

J&J Snack Foods reported third quarter fiscal 2026 results reflecting ongoing efforts to transform the business amid a challenging cost and...

Baptista Research

J&J Snack Foods’ Frozen Beverage Growth: Can ICEE Help Stabilize The Story?

J&J Snack Foods reported its second quarter fiscal 2026 results with mixed performance indicators. The company posted a 3.2% decline in sales...

Baptista Research

J&J Snack Foods Is Rewiring Its Cost Structure With a Bold Manufacturing Reset; Will It Work?

J&J Snack Foods Corp. delivered a mixed set of results that reflected both near-term operational pressures and a deliberate repositioning of...

Baptista Research

Headwinds Persist, Including Rising DXY, 10-Yr Treasury Yield, & Commodities; Buying Staples, Solar

We still see the market as being in pullback mode; the $SPX, $QQQ $NDX, and $IWM $RUT are all testing 50-day MA support, the first big area of...

Vermilion Research

U.S. Equity Strategy: Market Still Susceptible

We remain concerned about the prospect for additional weakness for the broad market due to deterioration in several metrics that we often turn to...

Vermilion Research

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