NEW YORK (TheStreet) -- Hershey (HSY - Get Report) stock was rising in pre-market trading on Friday as CEO John Bilbrey plans to retire July 1, at which point he will continue to serve as non-executive chairman of the board.
Hershey's board has appointed a special committee to lead the search for a new CEO, the company said in a statement.
The company reaffirmed its full-year 2016 outlook of a 3% to 4% increase in adjusted per-share earnings and 1% gain in revenue.
Separately, TheStreet Ratings team rates the stock as a "buy" with a ratings score of B.
Hershey's strengths such as its compelling growth in net income, revenue growth, notable return on equity, expanding profit margins and impressive record of earnings per share growth outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.
You can view the full analysis from the report here: HSY
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.