Snyder’s-Lance, Inc. (LNCE) Rating Lowered to Hold at Zacks Investment Research
Snyder’s-Lance, Inc. (NASDAQ:LNCE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.
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 equities research analysts have also issued reports about the company. BMO Capital Markets reaffirmed an “outperform” rating and set a $43.00 target price (up from $38.00) on shares of Snyder’s-Lance in a research report on Wednesday, August 9th. TheStreet raised Snyder’s-Lance from a “c+” rating to a “b” rating in a research report on Tuesday, August 8th. UBS AG cut their target price on Snyder’s-Lance from $39.00 to $38.00 and set a “neutral” rating on the stock in a research report on Wednesday. BidaskClub lowered Snyder’s-Lance from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, Jefferies Group LLC set a $44.00 target price on Snyder’s-Lance and gave the stock a “buy” rating in a research report on Saturday, July 29th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $41.17.
Shares of Snyder’s-Lance (NASDAQ LNCE) traded up $0.98 during trading on Friday, hitting $35.48. The stock had a trading volume of 311,100 shares, compared to its average volume of 382,648. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.92 and a current ratio of 1.63. The firm has a market capitalization of $3,457.70, a price-to-earnings ratio of 31.96 and a beta of 0.71. Snyder’s-Lance has a twelve month low of $31.03 and a twelve month high of $40.85.
Snyder’s-Lance (NASDAQ:LNCE) last announced its earnings results on Tuesday, November 7th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). The company had revenue of $564.20 million for the quarter, compared to analyst estimates of $559.86 million. Snyder’s-Lance had a positive return on equity of 5.30% and a negative net margin of 2.22%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period last year, the firm earned $0.35 earnings per share. equities research analysts expect that Snyder’s-Lance will post 1.14 EPS for the current year.
In other Snyder’s-Lance news, Director Patricia A. Warehime purchased 21,263 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The shares were purchased at an average cost of $37.25 per share, with a total value of $792,046.75. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Isaiah Tidwell sold 1,500 shares of the company’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $37.35, for a total value of $56,025.00. The disclosure for this sale can be found here. 13.70% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of the stock. M&T Bank Corp raised its position in Snyder’s-Lance by 0.4% during the second quarter. M&T Bank Corp now owns 7,808 shares of the company’s stock valued at $270,000 after buying an additional 28 shares during the period. Atria Investments LLC raised its position in Snyder’s-Lance by 1.1% during the second quarter. Atria Investments LLC now owns 6,193 shares of the company’s stock valued at $214,000 after buying an additional 65 shares during the period. Capstone Asset Management Co. raised its position in Snyder’s-Lance by 1.6% during the second quarter. Capstone Asset Management Co. now owns 5,841 shares of the company’s stock valued at $202,000 after buying an additional 90 shares during the period. Teacher Retirement System of Texas raised its position in Snyder’s-Lance by 2.1% during the second quarter. Teacher Retirement System of Texas now owns 6,165 shares of the company’s stock valued at $213,000 after buying an additional 129 shares during the period. Finally, Public Employees Retirement System of Ohio raised its position in Snyder’s-Lance by 3.4% during the first quarter. Public Employees Retirement System of Ohio now owns 4,058 shares of the company’s stock valued at $164,000 after buying an additional 132 shares during the period. 66.25% of the stock is currently owned by hedge funds and other institutional investors.
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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