Lancaster Colony (NASDAQ:LANC) Given New $207.00 Price Target at DA Davidson

Lancaster Colony (NASDAQ:LANC) had its price objective raised by investment analysts at DA Davidson from $192.00 to $207.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. DA Davidson’s target price would suggest a potential upside of 8.56% from the stock’s previous close.

Several other research analysts have also commented on LANC. Loop Capital dropped their price target on shares of Lancaster Colony from $232.00 to $227.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Stephens increased their price target on shares of Lancaster Colony from $196.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. Benchmark restated a “hold” rating on shares of Lancaster Colony in a research note on Tuesday, November 19th. Finally, StockNews.com upgraded shares of Lancaster Colony from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $211.33.

Lancaster Colony Stock Performance

Shares of NASDAQ:LANC opened at $190.67 on Monday. The company has a market cap of $5.26 billion, a PE ratio of 33.51 and a beta of 0.35. Lancaster Colony has a 52 week low of $163.20 and a 52 week high of $209.81. The firm has a 50 day simple moving average of $177.62 and a 200 day simple moving average of $180.88.

Lancaster Colony (NASDAQ:LANC) last released its earnings results on Tuesday, February 4th. The company reported $2.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.28. Lancaster Colony had a net margin of 8.26% and a return on equity of 19.51%. The company had revenue of $509.30 million during the quarter, compared to the consensus estimate of $495.43 million. During the same quarter in the prior year, the firm earned $1.87 EPS. The company’s revenue was up 4.8% compared to the same quarter last year. On average, equities analysts predict that Lancaster Colony will post 6.64 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Arizona State Retirement System grew its position in Lancaster Colony by 1.0% in the 4th quarter. Arizona State Retirement System now owns 5,604 shares of the company’s stock worth $970,000 after purchasing an additional 55 shares during the last quarter. Asset Management One Co. Ltd. grew its position in Lancaster Colony by 2.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 2,506 shares of the company’s stock worth $442,000 after purchasing an additional 57 shares during the last quarter. Creative Financial Designs Inc. ADV grew its position in Lancaster Colony by 1.8% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 3,805 shares of the company’s stock worth $672,000 after purchasing an additional 67 shares during the last quarter. Quantinno Capital Management LP grew its position in Lancaster Colony by 0.5% in the 3rd quarter. Quantinno Capital Management LP now owns 12,568 shares of the company’s stock worth $2,219,000 after purchasing an additional 67 shares during the last quarter. Finally, Principal Securities Inc. grew its position in Lancaster Colony by 5.6% in the 4th quarter. Principal Securities Inc. now owns 1,280 shares of the company’s stock worth $222,000 after purchasing an additional 68 shares during the last quarter. 66.44% of the stock is currently 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.