Snyder's-Lance (NASDAQ:LNCE) was downgraded by research analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a note issued to investors on Monday, December 18th. They currently have a $43.00 price objective on the stock. BMO Capital Markets’ price target indicates a potential downside of 14.03% from the company’s current price.
Several other analysts have also recently commented on LNCE. TheStreet cut shares of Snyder's-Lance from a “b” rating to a “c+” rating in a research note on Tuesday, November 7th. SunTrust Banks reiterated a “hold” rating and issued a $35.00 price target on shares of Snyder's-Lance in a research note on Friday, November 10th. Zacks Investment Research upgraded shares of Snyder's-Lance from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research note on Wednesday, October 18th. UBS Group reduced their target price on shares of Snyder's-Lance from $39.00 to $38.00 and set a “neutral” rating on the stock in a report on Wednesday, November 8th. Finally, Deutsche Bank set a $50.00 price target on shares of Snyder's-Lance and gave the company a “buy” rating in a report on Friday, December 15th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $44.83.
Snyder's-Lance (NASDAQ:LNCE) opened at $50.02 on Monday. The firm has a market cap of $4,868.68, a price-to-earnings ratio of -96.19 and a beta of 0.70. Snyder's-Lance has a one year low of $31.03 and a one year high of $50.67. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.99 and a current ratio of 1.63.
Snyder's-Lance (NASDAQ:LNCE) last released its earnings results on Tuesday, November 7th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). Snyder's-Lance had a negative net margin of 2.22% and a positive return on equity of 5.30%. The firm had revenue of $564.20 million for the quarter, compared to analysts’ expectations of $559.86 million. During the same quarter last year, the firm posted $0.35 EPS. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. equities research analysts forecast that Snyder's-Lance will post 1.15 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the company. AHL Partners LLP purchased a new stake in shares of Snyder's-Lance in the 2nd quarter worth approximately $3,881,000. Olstein Capital Management L.P. purchased a new stake in shares of Snyder's-Lance in the 3rd quarter worth approximately $1,367,000. Fisher Asset Management LLC lifted its position in shares of Snyder's-Lance by 8.1% in the 3rd quarter. Fisher Asset Management LLC now owns 848,285 shares of the company’s stock worth $32,354,000 after purchasing an additional 63,839 shares during the period. Bank of Montreal Can purchased a new stake in shares of Snyder's-Lance in the 2nd quarter worth approximately $380,000. Finally, Capital Fund Management S.A. purchased a new stake in shares of Snyder's-Lance in the 2nd quarter worth approximately $897,000. 64.65% of the stock is owned by hedge funds and other institutional investors.
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Snyder's-Lance Company Profile
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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