Snyder's-Lance (LNCE) Cut to “Market Perform” at BMO Capital Markets

Snyder's-Lance (NASDAQ:LNCE) was downgraded by equities researchers at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Monday, December 18th. They presently have a $43.00 price objective on the stock. BMO Capital Markets’ price objective suggests a potential downside of 14.03% from the stock’s previous close.

Several other research analysts also recently weighed in on LNCE. Zacks Investment Research upgraded shares of Snyder's-Lance from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research report on Wednesday, October 18th. UBS Group decreased their price target on shares of Snyder's-Lance from $39.00 to $38.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 8th. TheStreet downgraded shares of Snyder's-Lance from a “b” rating to a “c+” rating in a research report on Tuesday, November 7th. SunTrust Banks reiterated a “hold” rating and issued a $35.00 price target on shares of Snyder's-Lance in a research report on Friday, November 10th. Finally, Deutsche Bank set a $50.00 price objective on shares of Snyder's-Lance and gave the stock a “buy” rating in a research note on Friday, December 15th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Snyder's-Lance presently has a consensus rating of “Hold” and a consensus price target of $44.83.

Snyder's-Lance (LNCE) traded down $0.05 on Monday, reaching $50.02. 1,542,839 shares of the company’s stock traded hands, compared to its average volume of 1,604,867. The company has a quick ratio of 0.99, a current ratio of 1.63 and a debt-to-equity ratio of 0.58. Snyder's-Lance has a fifty-two week low of $31.03 and a fifty-two week high of $50.67. The company has a market capitalization of $4,870.00, a P/E ratio of -200.08 and a beta of 0.70.

Snyder's-Lance (NASDAQ:LNCE) last released its quarterly earnings results on Tuesday, November 7th. The company reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.02). Snyder's-Lance had a positive return on equity of 5.30% and a negative net margin of 2.22%. The business had revenue of $564.20 million during the quarter, compared to the consensus estimate of $559.86 million. During the same quarter in the previous year, the business posted $0.35 earnings per share. The firm’s revenue was up 3.7% on a year-over-year basis. research analysts expect that Snyder's-Lance will post 1.15 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Confluence Investment Management LLC increased its stake in shares of Snyder's-Lance by 2.0% in the fourth quarter. Confluence Investment Management LLC now owns 93,344 shares of the company’s stock worth $4,675,000 after purchasing an additional 1,792 shares in the last quarter. Shelton Capital Management purchased a new position in Snyder's-Lance during the third quarter valued at $204,000. GSA Capital Partners LLP purchased a new position in Snyder's-Lance during the third quarter valued at $1,276,000. California Public Employees Retirement System grew its stake in Snyder's-Lance by 4.0% during the third quarter. California Public Employees Retirement System now owns 178,986 shares of the company’s stock valued at $6,827,000 after acquiring an additional 6,881 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in Snyder's-Lance by 11.8% during the third quarter. Janney Montgomery Scott LLC now owns 16,977 shares of the company’s stock valued at $648,000 after acquiring an additional 1,792 shares in the last quarter. 64.65% of the stock is owned by hedge funds and other institutional investors.

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Snyder's-Lance Company Profile

Snyder’s-Lance, Inc is a snack food company. The Company is engaged in the manufacturing, distribution, marketing and sale of snack food products. Its products include pretzels, sandwich crackers, kettle cooked chips, pretzel crackers, cookies, potato chips, tortilla chips, restaurant style crackers, popcorn, nuts and other salty snacks.

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