Snyder’s-Lance, Inc. (LNCE) Given a $44.00 Price Target by Jefferies Group LLC Analysts
Several other research analysts have also commented on LNCE. BMO Capital Markets restated a buy rating and issued a $38.00 price target on shares of Snyder’s-Lance in a report on Tuesday, June 13th. Zacks Investment Research upgraded shares of Snyder’s-Lance from a strong sell rating to a hold rating in a report on Tuesday, June 20th. SunTrust Banks, Inc. lowered shares of Snyder’s-Lance from a buy rating to a hold rating and cut their price target for the company from $45.00 to $30.00 in a report on Monday, April 17th. UBS AG restated a neutral rating and issued a $35.00 price target (down previously from $37.00) on shares of Snyder’s-Lance in a report on Tuesday, July 18th. Finally, BidaskClub lowered shares of Snyder’s-Lance from a strong-buy rating to a buy rating in a report on Saturday, June 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $38.67.
Shares of Snyder’s-Lance (NASDAQ:LNCE) opened at 34.69 on Friday. The firm’s 50 day moving average is $35.33 and its 200-day moving average is $37.30. Snyder’s-Lance has a 12 month low of $31.03 and a 12 month high of $40.85. The firm has a market capitalization of $3.35 billion, a PE ratio of 40.81 and a beta of 0.71.
Snyder’s-Lance (NASDAQ:LNCE) last posted its quarterly earnings results on Monday, May 8th. The company reported $0.13 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.01. Snyder’s-Lance had a net margin of 2.25% and a return on equity of 5.36%. The business had revenue of $531.50 million during the quarter, compared to analysts’ expectations of $529.53 million. During the same quarter in the previous year, the business posted $0.25 EPS. The company’s quarterly revenue was up 18.7% on a year-over-year basis. On average, analysts expect that Snyder’s-Lance will post $1.10 EPS for the current fiscal year.
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In other news, Director Peter P. Brubaker acquired 1,000 shares of the stock in a transaction on Friday, May 26th. The stock was bought at an average price of $37.10 per share, with a total value of $37,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 13.70% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in LNCE. Meadow Creek Investment Management LLC boosted its stake in Snyder’s-Lance by 21.6% in the first quarter. Meadow Creek Investment Management LLC now owns 3,424 shares of the company’s stock worth $138,000 after buying an additional 608 shares during the last quarter. Creative Planning boosted its stake in shares of Snyder’s-Lance by 68.7% in the second quarter. Creative Planning now owns 4,083 shares of the company’s stock worth $141,000 after buying an additional 1,663 shares in the last quarter. US Bancorp DE boosted its stake in shares of Snyder’s-Lance by 12.7% in the second quarter. US Bancorp DE now owns 4,553 shares of the company’s stock worth $158,000 after buying an additional 513 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Snyder’s-Lance by 3.4% in the first quarter. Public Employees Retirement System of Ohio now owns 4,058 shares of the company’s stock worth $164,000 after buying an additional 132 shares in the last quarter. Finally, Neuburgh Advisers LLC boosted its stake in shares of Snyder’s-Lance by 21.6% in the first quarter. Neuburgh Advisers LLC now owns 4,708 shares of the company’s stock worth $190,000 after buying an additional 836 shares in the last quarter. 64.42% of the stock is owned by institutional investors and hedge funds.
Snyder’s-Lance, Inc is a snack food company. The Company is engaged in the manufacturing, distribution, marketing and sale of snack food products. Its products include pretzels, sandwich crackers, kettle cooked chips, pretzel crackers, cookies, potato chips, tortilla chips, restaurant style crackers, popcorn, nuts and other salty snacks.
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