Wall Street Zen Downgrades Marzetti (NASDAQ:MZTI) to Hold

Marzetti (NASDAQ:MZTI) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Other research analysts have also issued reports about the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Marzetti in a research note on Friday, January 9th. DA Davidson raised their target price on shares of Marzetti from $179.00 to $184.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $191.33.

Marzetti Price Performance

Shares of NASDAQ MZTI opened at $171.57 on Friday. Marzetti has a 1-year low of $152.95 and a 1-year high of $198.39. The business’s 50 day moving average is $166.64 and its two-hundred day moving average is $171.28. The stock has a market capitalization of $4.73 billion, a P/E ratio of 27.85 and a beta of 0.40.

Marzetti (NASDAQ:MZTI) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.01. The business had revenue of $482.78 million during the quarter. Marzetti had a return on equity of 18.86% and a net margin of 8.77%.Marzetti’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.62 earnings per share. As a group, equities research analysts anticipate that Marzetti will post 6.8 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Marzetti during the 4th quarter valued at about $33,000. Lodestone Wealth Management LLC purchased a new position in shares of Marzetti during the fourth quarter worth approximately $37,000. Farther Finance Advisors LLC bought a new stake in shares of Marzetti during the fourth quarter valued at approximately $52,000. Blue Trust Inc. bought a new stake in shares of Marzetti during the fourth quarter valued at approximately $57,000. Finally, Nisa Investment Advisors LLC purchased a new stake in shares of Marzetti in the fourth quarter valued at approximately $62,000. Hedge funds and other institutional investors own 66.44% of the company’s stock.

Marzetti Company Profile

Lancaster Colony Corporation engages in the manufacturing and marketing of specialty food products for the retail and foodservice channels in the United States. It operates in two segments, Retail and Foodservice. The company offers frozen garlic bread under the New York BRAND Bakery; frozen Parkerhouse style yeast and dinner rolls under the Sister Schubert's brand; salad dressings under the Marzetti, Simply Dressed, Cardini's, and Girard's brands; vegetable and fruit dips under the Marzetti brand; croutons and salad toppings under the New York BRAND Bakery, Chatham Village, and Marzetti brands; and frozen pasta under the Marzetti Frozen Pasta brand.