Snyder’s-Lance, Inc. (LNCE) Lowered to Sell at Zacks Investment Research
According to Zacks, “Synders-Lance Inc, formerly known as Lancer Inc, is engaged in the manufacture, market and distribution of a variety of branded and private label snack foods and bakery products. Products include branded sandwich crackers, sandwich cookies, restaurant crackers and bread basket items, candy, chips, meat snacks, nuts and private label cookies and crackers. Products are packaged as individual, single servings and as larger packages or multi-pack configurations and are distributed to grocery stores, convenience stores, vending machines, food service institutions, and through up and down the street outlets . “
Other research analysts have also recently issued research reports about the company. BMO Capital Markets reaffirmed a buy rating on shares of Snyder’s-Lance in a research note on Tuesday, November 8th. Deutsche Bank AG reaffirmed a hold rating and set a $35.00 target price on shares of Snyder’s-Lance in a research note on Wednesday, November 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $33.85.
Snyder’s-Lance (NASDAQ:LNCE) traded up 1.11% on Thursday, hitting $38.33. 468,264 shares of the stock were exchanged. The company has a market cap of $3.69 billion, a PE ratio of 107.37 and a beta of 0.62. Snyder’s-Lance has a 52 week low of $27.93 and a 52 week high of $39.10. The company’s 50-day moving average is $37.93 and its 200-day moving average is $35.52.
Snyder’s-Lance (NASDAQ:LNCE) last issued its quarterly earnings results on Monday, November 7th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.05. The company had revenue of $588.80 million for the quarter, compared to analyst estimates of $611.98 million. Snyder’s-Lance had a return on equity of 6.11% and a net margin of 1.48%. The company’s quarterly revenue was up 41.3% compared to the same quarter last year. During the same period last year, the company earned $0.26 earnings per share. On average, analysts predict that Snyder’s-Lance will post $1.28 earnings per share for the current year.
In related news, Director Brian J. Driscoll sold 5,000 shares of the stock in a transaction on Monday, December 5th. The stock was sold at an average price of $36.25, for a total value of $181,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 18.60% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in LNCE. Bruderman Asset Management LLC raised its position in Snyder’s-Lance by 0.3% in the third quarter. Bruderman Asset Management LLC now owns 3,109 shares of the company’s stock worth $104,000 after buying an additional 9 shares during the period. Advisor Group Inc. bought a new position in Snyder’s-Lance during the second quarter worth $111,000. Public Employees Retirement System of Ohio raised its position in Snyder’s-Lance by 10.8% in the second quarter. Public Employees Retirement System of Ohio now owns 3,435 shares of the company’s stock worth $116,000 after buying an additional 334 shares during the period. LS Investment Advisors LLC raised its position in Snyder’s-Lance by 76.4% in the second quarter. LS Investment Advisors LLC now owns 4,818 shares of the company’s stock worth $163,000 after buying an additional 2,087 shares during the period. Finally, D.A. Davidson & CO. raised its position in Snyder’s-Lance by 6.1% in the third quarter. D.A. Davidson & CO. now owns 5,571 shares of the company’s stock worth $186,000 after buying an additional 322 shares during the period. Institutional investors and hedge funds own 60.68% of the company’s stock.
Snyder’s-Lance Company Profile
Snyder’s-Lance, Inc is a snack food company. The Company operates in the manufacturing, distribution, marketing and sale of snack food products segment. The Company’s products include pretzels, sandwich crackers, kettle cooked chips, pretzel crackers, cookies, potato chips, tortilla chips, nuts, restaurant style crackers and other salty snacks.
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