Lamb Weston (NYSE:LW) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday, January 5th.
According to Zacks, “Lamb Weston Holdings, Inc. is a supplier of frozen potato, sweet potato, appetizer and vegetable products to restaurants and retailers. Lamb Weston Holdings, Inc. is headquartered in Eagle, Idaho. “
A number of other equities analysts have also weighed in on the stock. Bank of America lifted their price objective on shares of Lamb Weston from $52.00 to $57.00 and gave the company a “buy” rating in a research report on Monday, November 6th. Morgan Stanley reissued an “equal weight” rating and issued a $50.00 target price (up previously from $46.00) on shares of Lamb Weston in a report on Thursday, October 5th. Jefferies Group raised their target price on Lamb Weston to $64.00 and gave the company a “buy” rating in a report on Wednesday, January 3rd. Finally, Stifel Nicolaus raised their target price on Lamb Weston from $54.00 to $58.00 and gave the company a “hold” rating in a report on Tuesday, January 2nd. Four research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $53.13.
Shares of Lamb Weston (LW) traded up $0.28 on Friday, hitting $58.28. 1,095,822 shares of the stock were exchanged, compared to its average volume of 1,528,311. Lamb Weston has a twelve month low of $35.81 and a twelve month high of $58.70. The company has a current ratio of 1.55, a quick ratio of 0.53 and a debt-to-equity ratio of -4.43. The stock has a market capitalization of $8,480.00 and a price-to-earnings ratio of 26.98.
Lamb Weston (NYSE:LW) last posted its quarterly earnings data on Thursday, January 4th. The specialty retailer reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. Lamb Weston had a net margin of 9.85% and a negative return on equity of 53.18%. The firm had revenue of $824.60 million for the quarter, compared to analyst estimates of $815.29 million. During the same period last year, the firm posted $0.63 EPS. Lamb Weston’s quarterly revenue was up 4.3% on a year-over-year basis. analysts expect that Lamb Weston will post 2.4 earnings per share for the current fiscal year.
In other news, Director Peter J. Bensen purchased 5,000 shares of the business’s stock in a transaction dated Monday, January 8th. The stock was acquired at an average price of $58.18 per share, with a total value of $290,900.00. Following the purchase, the director now directly owns 1,935 shares of the company’s stock, valued at approximately $112,578.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.26% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Evercore Wealth Management LLC increased its position in Lamb Weston by 12.5% during the 2nd quarter. Evercore Wealth Management LLC now owns 842,035 shares of the specialty retailer’s stock worth $37,083,000 after purchasing an additional 93,852 shares in the last quarter. Ameriprise Financial Inc. increased its position in Lamb Weston by 5.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,979,304 shares of the specialty retailer’s stock worth $92,810,000 after purchasing an additional 100,388 shares in the last quarter. Bodenholm Capital AB increased its position in Lamb Weston by 6.8% during the 3rd quarter. Bodenholm Capital AB now owns 936,000 shares of the specialty retailer’s stock worth $43,602,000 after purchasing an additional 60,000 shares in the last quarter. Artisan Partners Limited Partnership increased its position in Lamb Weston by 2,176.4% during the 3rd quarter. Artisan Partners Limited Partnership now owns 458,095 shares of the specialty retailer’s stock worth $21,480,000 after purchasing an additional 437,971 shares in the last quarter. Finally, Amalgamated Bank increased its position in Lamb Weston by 171.2% during the 2nd quarter. Amalgamated Bank now owns 28,776 shares of the specialty retailer’s stock worth $1,267,000 after purchasing an additional 18,167 shares in the last quarter. 79.38% of the stock is owned by institutional investors and hedge funds.
About Lamb Weston
Lamb Weston Holdings, Inc (Lamb Weston), is a supplier of frozen potato, sweet potato, appetizer and vegetable products to restaurants and retailers around the world. The Company’s segments include Global, Foodservice, Retail and Other. The Global segment includes operations associated with Lamb Weston’s business with large chain restaurant customers, whether those results are generated in the United States or abroad, as well as operations associated with retail and foodservice customers located outside of the United States and Canada.
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