Lancaster Colony (NASDAQ:LANC) Stock Price Expected to Rise, DA Davidson Analyst Says

Lancaster Colony (NASDAQ:LANC) had its target price boosted by equities research analysts at DA Davidson from $192.00 to $207.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. DA Davidson’s price target points to a potential upside of 8.56% from the stock’s previous close.

Several other equities analysts have also weighed in on LANC. StockNews.com upgraded shares of Lancaster Colony from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Benchmark restated a “hold” rating on shares of Lancaster Colony in a report on Tuesday, November 19th. Loop Capital reduced their target price on shares of 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 lifted their target price on shares of Lancaster Colony from $196.00 to $200.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Lancaster Colony presently has a consensus rating of “Hold” and an average target price of $211.33.

Lancaster Colony Stock Performance

Shares of NASDAQ LANC opened at $190.67 on Monday. The firm has a market cap of $5.26 billion, a P/E ratio of 33.51 and a beta of 0.35. The firm’s 50 day moving average price is $177.62 and its 200 day moving average price is $180.88. Lancaster Colony has a 1 year low of $163.20 and a 1 year high of $209.81.

Lancaster Colony (NASDAQ:LANC) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $2.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.28. The company had revenue of $509.30 million for the quarter, compared to analyst estimates of $495.43 million. Lancaster Colony had a net margin of 8.26% and a return on equity of 19.51%. Lancaster Colony’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter last year, the business earned $1.87 EPS. As a group, equities analysts predict that Lancaster Colony will post 6.64 EPS for the current year.

Institutional Investors Weigh In On Lancaster Colony

Institutional investors have recently modified their holdings of the stock. 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. boosted its holdings in Lancaster Colony by 2.3% during the third quarter. Asset Management One Co. Ltd. now owns 2,506 shares of the company’s stock worth $442,000 after buying an additional 57 shares in the last quarter. Creative Financial Designs Inc. ADV boosted its holdings in Lancaster Colony by 1.8% during the third quarter. Creative Financial Designs Inc. ADV now owns 3,805 shares of the company’s stock worth $672,000 after buying an additional 67 shares in the last quarter. Quantinno Capital Management LP boosted its holdings in Lancaster Colony by 0.5% during the third quarter. Quantinno Capital Management LP now owns 12,568 shares of the company’s stock worth $2,219,000 after buying an additional 67 shares in the last quarter. Finally, Principal Securities Inc. boosted its holdings in Lancaster Colony by 5.6% during the fourth quarter. Principal Securities Inc. now owns 1,280 shares of the company’s stock worth $222,000 after buying an additional 68 shares in the last quarter. Institutional investors and hedge funds own 66.44% of the company’s stock.

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.