The Snyder’s-Lance Inc. (LNCE) Given Average Recommendation of “Buy” from Analysts

The Snyder’s-Lance Inc. (LNCE) Given Average Recommendation of “Buy” from Analysts

Shares of Snyder’s-Lance Inc. (NASDAQ:LNCE) have been given a consensus recommendation of “Buy” by the ten ratings firms that are covering the firm. Two research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $36.46.

A number of equities analysts recently commented on LNCE shares. TheStreet raised shares of Snyder’s-Lance from a “hold” rating to a “buy” rating in a research report on Thursday, June 30th. DA Davidson raised their price target on shares of Snyder’s-Lance from $38.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, August 9th. Deutsche Bank AG raised their price target on shares of Snyder’s-Lance from $31.00 to $34.00 and gave the stock a “hold” rating in a research report on Tuesday, August 2nd. Finally, Zacks Investment Research raised shares of Snyder’s-Lance from a “sell” rating to a “hold” rating in a research report on Thursday, June 30th.

In other news, Director Peter P. Brubaker sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $36.00, for a total value of $144,000.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John E. Denton sold 6,932 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $33.95, for a total transaction of $235,341.40. The disclosure for this sale can be found here. 18.60% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of LNCE. Advisor Group Inc. bought a new stake in Snyder’s-Lance during the second quarter worth $111,000. Public Employees Retirement System of Ohio increased its stake in Snyder’s-Lance by 10.8% in the second quarter. Public Employees Retirement System of Ohio now owns 3,435 shares of the company’s stock worth $116,000 after buying an additional 334 shares during the last quarter. LS Investment Advisors LLC increased its stake in Snyder’s-Lance by 76.4% in the second quarter. LS Investment Advisors LLC now owns 4,818 shares of the company’s stock worth $163,000 after buying an additional 2,087 shares during the last quarter. Bank of Montreal Can bought a new stake in Snyder’s-Lance during the second quarter worth $188,000. Finally, Private Advisor Group LLC bought a new stake in Snyder’s-Lance during the second quarter worth $203,000. Institutional investors own 58.34% of the company’s stock.

Shares of Snyder’s-Lance (NASDAQ:LNCE) remained flat at $34.92 during trading on Monday. The stock had a trading volume of 157,768 shares. The stock has a market cap of $3.35 billion, a PE ratio of 167.08 and a beta of 0.56. The company has a 50-day moving average price of $34.33 and a 200-day moving average price of $33.20. Snyder’s-Lance has a 52 week low of $27.93 and a 52 week high of $39.10.

Snyder’s-Lance (NASDAQ:LNCE) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. Snyder’s-Lance had a net margin of 0.90% and a return on equity of 5.90%. The business had revenue of $609.50 million for the quarter, compared to analyst estimates of $616.28 million. During the same period last year, the firm earned $0.27 earnings per share. Snyder’s-Lance’s revenue for the quarter was up 41.3% compared to the same quarter last year. On average, equities analysts forecast that Snyder’s-Lance will post $1.26 earnings per share for the current year.

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