Snyder’s-Lance Inc. (LNCE) Receives Average Recommendation of “Buy” from Analysts
Shares of Snyder’s-Lance Inc. (NASDAQ:LNCE) have been given a consensus recommendation of “Buy” by the ten ratings firms that are covering the firm. Two research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $36.46.
A number of equities analysts recently commented on LNCE shares. TheStreet raised shares of Snyder’s-Lance from a “hold” rating to a “buy” rating in a research report on Thursday, June 30th. DA Davidson raised their price target on shares of Snyder’s-Lance from $38.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, August 9th. Deutsche Bank AG raised their price target on shares of Snyder’s-Lance from $31.00 to $34.00 and gave the stock a “hold” rating in a research report on Tuesday, August 2nd. Finally, Zacks Investment Research raised shares of Snyder’s-Lance from a “sell” rating to a “hold” rating in a research report on Thursday, June 30th.
In other news, Director Peter P. Brubaker sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $36.00, for a total value of $144,000.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John E. Denton sold 6,932 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $33.95, for a total transaction of $235,341.40. The disclosure for this sale can be found here. 18.60% of the stock is currently owned by insiders.
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Several large investors have recently bought and sold shares of LNCE. Advisor Group Inc. bought a new stake in Snyder’s-Lance during the second quarter worth $111,000. Public Employees Retirement System of Ohio increased its stake 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 last quarter. LS Investment Advisors LLC increased its stake 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 last quarter. Bank of Montreal Can bought a new stake in Snyder’s-Lance during the second quarter worth $188,000. Finally, Private Advisor Group LLC bought a new stake in Snyder’s-Lance during the second quarter worth $203,000. Institutional investors own 58.34% of the company’s stock.
Shares of Snyder’s-Lance (NASDAQ:LNCE) remained flat at $34.92 during trading on Monday. The stock had a trading volume of 157,768 shares. The stock has a market cap of $3.35 billion, a PE ratio of 167.08 and a beta of 0.56. The company has a 50-day moving average price of $34.33 and a 200-day moving average price of $33.20. Snyder’s-Lance has a 52 week low of $27.93 and a 52 week high of $39.10.
Snyder’s-Lance (NASDAQ:LNCE) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. Snyder’s-Lance had a net margin of 0.90% and a return on equity of 5.90%. The business had revenue of $609.50 million for the quarter, compared to analyst estimates of $616.28 million. During the same period last year, the firm earned $0.27 earnings per share. Snyder’s-Lance’s revenue for the quarter was up 41.3% compared to the same quarter last year. On average, equities analysts forecast that Snyder’s-Lance will post $1.26 earnings per share for the current year.
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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