Lancaster Colony (LANC) Upgraded by BidaskClub to Buy

BidaskClub upgraded shares of Lancaster Colony (NASDAQ:LANC) from a hold rating to a buy rating in a report published on Friday.

A number of other research analysts also recently weighed in on LANC. CL King downgraded Lancaster Colony from a buy rating to a neutral rating in a report on Friday, August 10th. They noted that the move was a valuation call. ValuEngine upgraded Lancaster Colony from a hold rating to a buy rating in a report on Friday, October 19th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $150.00.

Shares of LANC stock traded up $0.29 during midday trading on Friday, reaching $178.20. 104,562 shares of the stock were exchanged, compared to its average volume of 123,763. Lancaster Colony has a 1 year low of $115.81 and a 1 year high of $178.99. The company has a market capitalization of $4.88 billion, a price-to-earnings ratio of 37.44 and a beta of 0.54.

Lancaster Colony (NASDAQ:LANC) last posted its earnings results on Thursday, October 25th. The company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.15. Lancaster Colony had a return on equity of 20.23% and a net margin of 11.68%. The firm had revenue of $316.65 million for the quarter.

In other Lancaster Colony news, SVP Timothy A. Tate sold 747 shares of the company’s stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $176.01, for a total transaction of $131,479.47. Following the transaction, the senior vice president now owns 1,563 shares in the company, valued at approximately $275,103.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Douglas A. Fell sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $154.90, for a total value of $77,450.00. Following the transaction, the vice president now owns 12,215 shares in the company, valued at approximately $1,892,103.50. The disclosure for this sale can be found here. 31.80% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of LANC. Stratos Wealth Partners LTD. purchased a new stake in shares of Lancaster Colony in the 3rd quarter worth approximately $118,000. Fort L.P. purchased a new stake in shares of Lancaster Colony in the 2nd quarter worth approximately $123,000. Hendley & Co. Inc. purchased a new stake in shares of Lancaster Colony in the 3rd quarter worth approximately $201,000. Boston Advisors LLC purchased a new stake in shares of Lancaster Colony in the 2nd quarter worth approximately $208,000. Finally, O Shaughnessy Asset Management LLC purchased a new stake in shares of Lancaster Colony in the 3rd quarter worth approximately $220,000. Institutional investors own 54.23% of the company’s stock.

Lancaster Colony Company Profile

Lancaster Colony Corporation manufactures and markets specialty food products for the retail and foodservice markets in the United States. The company operates through two segments, Retail and Foodservice. It offers frozen garlic breads under the New York BRAND Bakery brand; frozen Parkerhouse style yeast and dinner rolls under the Sister Schubert's brand name; salad dressings under the Marzetti, Simply Dressed, Simply 60, Cardini's, and Girard's brands; and vegetable dips and fruit dips under the Marzetti brand.

Featured Story: Index Funds

Receive News & Ratings for Lancaster Colony Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lancaster Colony and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply