Lancaster Colony (NASDAQ:LANC) Rating Increased to Buy at StockNews.com

Lancaster Colony (NASDAQ:LANC) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

Separately, Stephens reiterated an “equal weight” rating and set a $218.00 target price on shares of Lancaster Colony in a research report on Friday. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Lancaster Colony currently has a consensus rating of “Hold” and an average price target of $198.75.

Lancaster Colony Stock Down 0.3 %

LANC traded down $0.50 on Friday, reaching $191.50. The company’s stock had a trading volume of 149,123 shares, compared to its average volume of 137,140. The company has a market capitalization of $5.27 billion, a price-to-earnings ratio of 40.92 and a beta of 0.39. Lancaster Colony has a fifty-two week low of $158.88 and a fifty-two week high of $220.65. The stock has a 50 day moving average of $199.06 and a two-hundred day moving average of $182.30.

Lancaster Colony (NASDAQ:LANC) last issued its earnings results on Thursday, May 2nd. The company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.02. Lancaster Colony had a net margin of 6.92% and a return on equity of 17.37%. The business had revenue of $471.40 million during the quarter, compared to analysts’ expectations of $467.90 million. During the same quarter in the prior year, the business posted $0.89 EPS. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. As a group, analysts anticipate that Lancaster Colony will post 6.47 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Kristin Bird sold 1,207 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $192.66, for a total transaction of $232,540.62. Following the transaction, the insider now owns 3,546 shares of the company’s stock, valued at $683,172.36. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 29.60% of the company’s stock.

Institutional Investors Weigh In On Lancaster Colony

Several hedge funds have recently modified their holdings of LANC. Commonwealth Equity Services LLC raised its position in Lancaster Colony by 45.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 7,293 shares of the company’s stock worth $1,204,000 after buying an additional 2,292 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Lancaster Colony by 22.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,072 shares of the company’s stock valued at $672,000 after purchasing an additional 735 shares during the period. Strs Ohio boosted its holdings in Lancaster Colony by 6.0% in the 3rd quarter. Strs Ohio now owns 7,100 shares of the company’s stock valued at $1,171,000 after purchasing an additional 400 shares in the last quarter. Park Avenue Securities LLC acquired a new position in Lancaster Colony during the 3rd quarter worth approximately $926,000. Finally, Inspire Investing LLC raised its stake in shares of Lancaster Colony by 18.5% during the 3rd quarter. Inspire Investing LLC now owns 1,855 shares of the company’s stock worth $306,000 after buying an additional 290 shares in the last quarter. 66.44% of the stock is owned by institutional investors and hedge funds.

About Lancaster Colony

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.