Snyder's-Lance (LNCE) Price Target Raised to $50.00

Snyder's-Lance (NASDAQ:LNCE) had its price objective lifted by equities researchers at SunTrust Banks to $50.00 in a research note issued to investors on Tuesday, December 19th, The Fly reports. The firm currently has a “hold” rating on the stock. SunTrust Banks’ price objective indicates a potential downside of 0.04% from the company’s previous close.

A number of other research analysts also recently issued reports 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. BidaskClub upgraded shares of Snyder's-Lance from a “hold” rating to a “buy” rating in a research report on Tuesday, December 19th. UBS Group reduced 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. Finally, BMO Capital Markets downgraded shares of Snyder's-Lance from an “outperform” rating to a “market perform” rating and set a $43.00 price target on the stock. in a research report on Monday, December 18th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $44.83.

Snyder's-Lance (LNCE) traded down $0.05 during midday trading on Tuesday, reaching $50.02. 1,542,839 shares of the company’s stock were exchanged, compared to its average volume of 1,604,867. Snyder's-Lance has a 12-month low of $31.03 and a 12-month high of $50.67. The company has a quick ratio of 0.99, a current ratio of 1.63 and a debt-to-equity ratio of 0.58. The company has a market cap of $4,870.00, a P/E ratio of -200.08 and a beta of 0.70.

Snyder's-Lance (NASDAQ:LNCE) last posted its quarterly earnings results on Tuesday, November 7th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the Zacks’ 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 company’s quarterly revenue was up 3.7% compared to the same quarter last year. research analysts predict that Snyder's-Lance will post 1.15 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of LNCE. Goldman Sachs Group Inc. lifted its position in Snyder's-Lance by 108.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 4,165,505 shares of the company’s stock valued at $144,210,000 after purchasing an additional 2,166,488 shares during the last quarter. Lord Abbett & CO. LLC bought a new stake in Snyder's-Lance in the 2nd quarter valued at about $14,921,000. FMR LLC lifted its position in Snyder's-Lance by 15.4% in the 2nd quarter. FMR LLC now owns 1,917,933 shares of the company’s stock valued at $66,400,000 after purchasing an additional 256,477 shares during the last quarter. Oak Ridge Investments LLC lifted its position in Snyder's-Lance by 30.0% in the 2nd quarter. Oak Ridge Investments LLC now owns 1,087,389 shares of the company’s stock valued at $37,645,000 after purchasing an additional 251,233 shares during the last quarter. Finally, Eagle Asset Management Inc. lifted its position in Snyder's-Lance by 10.0% in the 2nd quarter. Eagle Asset Management Inc. now owns 2,249,310 shares of the company’s stock valued at $77,871,000 after purchasing an additional 205,035 shares during the last quarter. Hedge funds and other institutional investors own 64.65% of the company’s stock.

WARNING: This report was first posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this report on another website, it was stolen and reposted in violation of United States and international copyright & trademark law. The original version of this report can be viewed at https://ledgergazette.com/2018/01/13/suntrust-banks-increases-snyders-lance-lnce-price-target-to-50-00.html.

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.

The Fly

Receive News & Ratings for Snyder's-Lance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snyder's-Lance and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply