Snyder’s-Lance Inc. (LNCE) Given Average Recommendation of “Buy” by Analysts
Shares of Snyder’s-Lance Inc. (NASDAQ:LNCE) have received an average recommendation of “Buy” from the eight ratings firms that are currently covering the company. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $32.31.
Several analysts recently issued reports on the company. DA Davidson raised their target price on Snyder’s-Lance from $38.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, August 9th. BMO Capital Markets reissued a “buy” rating on shares of Snyder’s-Lance in a research note on Tuesday, November 8th. Finally, Deutsche Bank AG raised their target price on Snyder’s-Lance from $31.00 to $34.00 and gave the stock a “hold” rating in a research note on Tuesday, August 2nd.
Snyder’s-Lance (NASDAQ:LNCE) traded down 1.07% on Monday, reaching $37.05. The company had a trading volume of 129,677 shares. The company’s 50 day moving average is $35.48 and its 200-day moving average is $33.97. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of 103.78 and a beta of 0.61. Snyder’s-Lance has a one year low of $27.93 and a one year high of $39.10.
Snyder’s-Lance (NASDAQ:LNCE) last posted its earnings results on Monday, November 7th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.05. The company had revenue of $588.80 million for the quarter, compared to analysts’ expectations of $611.98 million. Snyder’s-Lance had a return on equity of 6.11% and a net margin of 1.48%. Snyder’s-Lance’s quarterly revenue was up 41.3% on a year-over-year basis. During the same period last year, the firm earned $0.26 earnings per share. On average, equities research analysts expect that Snyder’s-Lance will post $1.28 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 29th. Shareholders of record on Monday, November 21st will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, November 17th. This represents a $0.64 annualized dividend and a yield of 1.71%. Snyder’s-Lance’s payout ratio is 228.57%.
In other Snyder’s-Lance news, Director John E. Denton sold 6,932 shares of Snyder’s-Lance stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $33.95, for a total transaction of $235,341.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 18.60% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. D.A. Davidson & CO. boosted its stake in Snyder’s-Lance by 6.1% in the third quarter. D.A. Davidson & CO. now owns 5,571 shares of the company’s stock valued at $186,000 after buying an additional 322 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Snyder’s-Lance by 29.9% in the third quarter. Price T Rowe Associates Inc. MD now owns 43,319 shares of the company’s stock valued at $1,455,000 after buying an additional 9,971 shares during the last quarter. Ameritas Investment Partners Inc. boosted its stake in Snyder’s-Lance by 73.6% in the third quarter. Ameritas Investment Partners Inc. now owns 32,722 shares of the company’s stock valued at $1,099,000 after buying an additional 13,869 shares during the last quarter. Verition Fund Management LLC purchased a new stake in Snyder’s-Lance during the third quarter valued at $353,000. Finally, Otter Creek Advisors LLC boosted its stake in Snyder’s-Lance by 1.5% in the third quarter. Otter Creek Advisors LLC now owns 514,137 shares of the company’s stock valued at $17,265,000 after buying an additional 7,847 shares during the last quarter. 63.29% of the stock is currently owned by institutional investors and hedge funds.
Snyder’s-Lance Company Profile
Snyder’s-Lance, Inc is a snack food company. The Company operates in the manufacturing, distribution, marketing and sale of snack food products segment. The Company’s products include pretzels, sandwich crackers, kettle cooked chips, pretzel crackers, cookies, potato chips, tortilla chips, nuts, restaurant style crackers and other salty snacks.
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