Lamb Weston Holdings’ (LW) Buy Rating Reiterated at Jefferies Group LLC
Lamb Weston Holdings Inc. (NYSE:LW)‘s stock had its “buy” rating restated by analysts at Jefferies Group LLC in a report released on Thursday. They presently have a $58.00 price objective on the specialty retailer’s stock, up from their prior price objective of $53.00. Jefferies Group LLC’s price target suggests a potential upside of 19.37% from the company’s current price.
Several other equities analysts have also recently issued reports on the company. Zacks Investment Research cut Lamb Weston Holdings from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Morgan Stanley reissued an “equal weight” rating and issued a $46.00 price objective (up previously from $45.00) on shares of Lamb Weston Holdings in a report on Wednesday, July 26th. Bank of America Corporation boosted their price objective on Lamb Weston Holdings from $46.00 to $48.00 and gave the company a “buy” rating in a report on Monday, July 10th. Finally, Stifel Nicolaus cut Lamb Weston Holdings from a “buy” rating to a “hold” rating and boosted their price objective for the company from $42.00 to $44.00 in a report on Tuesday, July 4th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $47.22.
Lamb Weston Holdings (LW) traded up 0.37% on Thursday, hitting $48.59. The stock had a trading volume of 905,864 shares. Lamb Weston Holdings has a 52-week low of $29.62 and a 52-week high of $49.94. The company has a market cap of $7.10 billion and a price-to-earnings ratio of 21.89. The company has a 50 day moving average price of $45.97 and a 200-day moving average price of $44.37.
Lamb Weston Holdings (NYSE:LW) last issued its quarterly earnings data on Wednesday, October 4th. The specialty retailer reported $0.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.07. The company had revenue of $817.50 million during the quarter, compared to analyst estimates of $795.61 million. Lamb Weston Holdings’s revenue was up 5.3% on a year-over-year basis. On average, equities research analysts predict that Lamb Weston Holdings will post $2.32 earnings per share for the current year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LW. Schroder Investment Management Group acquired a new position in Lamb Weston Holdings in the 2nd quarter worth about $106,000. Advisory Services Network LLC raised its holdings in Lamb Weston Holdings by 81.5% in the 2nd quarter. Advisory Services Network LLC now owns 3,094 shares of the specialty retailer’s stock worth $136,000 after purchasing an additional 1,389 shares during the period. First Mercantile Trust Co. acquired a new position in Lamb Weston Holdings in the 2nd quarter worth about $137,000. OLD Mutual Customised Solutions Proprietary Ltd. raised its holdings in Lamb Weston Holdings by 165.9% in the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 3,366 shares of the specialty retailer’s stock worth $142,000 after purchasing an additional 2,100 shares during the period. Finally, IndexIQ Advisors LLC acquired a new position in Lamb Weston Holdings in the 2nd quarter worth about $149,000. 79.78% of the stock is owned by institutional investors.
About Lamb Weston Holdings
Lamb Weston Holdings, Inc (Lamb Weston), is a supplier of frozen potato, sweet potato, appetizer and vegetable products to restaurants and retailers around the world. The Company’s segments include Global, Foodservice, Retail and Other. The Global segment includes operations associated with Lamb Weston’s business with large chain restaurant customers, whether those results are generated in the United States or abroad, as well as operations associated with retail and foodservice customers located outside of the United States and Canada.
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