StockNews.com Upgrades Lancaster Colony (NASDAQ:LANC) to Buy

StockNews.com upgraded shares of Lancaster Colony (NASDAQ:LANC) from a hold rating to a buy rating in a report issued on Thursday morning.

Other analysts also recently issued reports about the stock. Benchmark reiterated a “hold” rating on shares of Lancaster Colony in a report on Tuesday, November 19th. Loop Capital reduced their target price on Lancaster Colony from $232.00 to $227.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Finally, Stephens increased their price target on Lancaster Colony from $196.00 to $200.00 and gave the company an “equal weight” rating in a research note on Wednesday.

Lancaster Colony Stock Up 0.7 %

NASDAQ LANC opened at $187.57 on Thursday. Lancaster Colony has a twelve month low of $163.20 and a twelve month high of $209.81. The business has a 50-day moving average price of $177.55 and a 200-day moving average price of $180.87. The firm has a market cap of $5.17 billion, a price-to-earnings ratio of 32.45 and a beta of 0.35.

Lancaster Colony (NASDAQ:LANC) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $2.22 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.28. The business had revenue of $509.30 million during the quarter, compared to the consensus estimate of $495.43 million. Lancaster Colony had a return on equity of 19.01% and a net margin of 8.49%. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.87 EPS. Research analysts expect that Lancaster Colony will post 6.7 EPS for the current fiscal year.

Institutional Trading of Lancaster Colony

A number of large investors have recently made changes to their positions in LANC. V Square Quantitative Management LLC purchased a new position in Lancaster Colony in the third quarter worth about $27,000. Eagle Bay Advisors LLC purchased a new position in shares of Lancaster Colony in the 4th quarter worth approximately $38,000. GAMMA Investing LLC boosted its holdings in shares of Lancaster Colony by 56.4% in the 4th quarter. GAMMA Investing LLC now owns 280 shares of the company’s stock worth $48,000 after purchasing an additional 101 shares during the period. KBC Group NV increased its position in shares of Lancaster Colony by 80.4% during the 4th quarter. KBC Group NV now owns 893 shares of the company’s stock valued at $155,000 after purchasing an additional 398 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in Lancaster Colony by 62.1% in the fourth quarter. Blue Trust Inc. now owns 932 shares of the company’s stock worth $165,000 after buying an additional 357 shares during the last quarter. 66.44% of the stock is currently owned by institutional investors.

Lancaster Colony 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.