Zacks Investment Research upgraded shares of Lancaster Colony (NASDAQ:LANC) from a sell rating to a hold rating in a report released on Wednesday, January 10th.
According to Zacks, “Lancaster Colony Corporation is a manufacturer and marketer of specialty food products for the retail and foodservice markets. Lancaster Colony’s wholly-owned subsidiaries, including T. Marzetti Company, produce and market high quality national and regionally-branded food products throughout the United States for the retail and foodservice markets. Most of their products sold through the retail channel are marketed under the company’s popular brand names, such as Marzetti, New York Brand Bakery, Sister Schubert’s and Flatout. The company’s production plants across the United States make an expanded family of quality food products found every day on the dinner tables of millions of consumers, as well as in well-known restaurant chains nationwide. “
Separately, BidaskClub upgraded Lancaster Colony from a sell rating to a hold rating in a research note on Saturday, December 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Lancaster Colony currently has a consensus rating of Hold and an average target price of $153.00.
Shares of Lancaster Colony (NASDAQ LANC) traded down $3.64 on Wednesday, hitting $120.49. The company’s stock had a trading volume of 130,737 shares, compared to its average volume of 127,581. The firm has a market capitalization of $3,310.00, a PE ratio of 28.02 and a beta of 1.01. Lancaster Colony has a 12 month low of $113.33 and a 12 month high of $136.37.
Lancaster Colony (NASDAQ:LANC) last released its quarterly earnings results on Thursday, January 25th. The company reported $1.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.32 by ($0.18). Lancaster Colony had a return on equity of 19.65% and a net margin of 9.84%. The business had revenue of $319.70 million during the quarter, compared to analyst estimates of $335.10 million. During the same quarter last year, the firm posted $1.42 EPS. The company’s revenue was down 2.2% compared to the same quarter last year. equities research analysts expect that Lancaster Colony will post 4.62 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Lancaster Colony during the third quarter valued at approximately $151,000. Advisory Services Network LLC grew its holdings in shares of Lancaster Colony by 31.8% during the second quarter. Advisory Services Network LLC now owns 1,325 shares of the company’s stock valued at $162,000 after purchasing an additional 320 shares during the last quarter. Vident Investment Advisory LLC bought a new position in shares of Lancaster Colony during the third quarter valued at approximately $210,000. Crossmark Global Holdings Inc. bought a new position in shares of Lancaster Colony during the third quarter valued at approximately $243,000. Finally, Riverhead Capital Management LLC grew its holdings in shares of Lancaster Colony by 66.5% during the second quarter. Riverhead Capital Management LLC now owns 2,165 shares of the company’s stock valued at $265,000 after purchasing an additional 865 shares during the last quarter. Hedge funds and other institutional investors own 51.31% of the company’s stock.
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About Lancaster Colony
Lancaster Colony Corporation is a manufacturer and marketer of specialty food products for the retail and foodservice channels. The Company’s food products include Salad dressings and sauces, Vegetable dips and fruit dips, Frozen garlic breads, Frozen Parkerhouse style yeast rolls and dinner rolls, Premium dry egg noodles, Frozen specialty noodles, Croutons and salad toppings, Flatbread wraps and pizza crusts, and Caviar.
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