Snyder’s-Lance, Inc. (LNCE) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Snyder’s-Lance, Inc. (NASDAQ:LNCE) from a hold rating to a buy rating in a report issued on Wednesday, October 18th. They currently have $44.00 price objective on the stock.

According to Zacks, “Synders-Lance Inc, formerly known as Lancer Inc, is engaged in the manufacture, market and distribution of a variety of branded and private label snack foods and bakery products. Products include branded sandwich crackers, sandwich cookies, restaurant crackers and bread basket items, candy, chips, meat snacks, nuts and private label cookies and crackers. Products are packaged as individual, single servings and as larger packages or multi-pack configurations and are distributed to grocery stores, convenience stores, vending machines, food service institutions, and through up and down the street outlets . “

A number of other equities analysts have also weighed in on the company. BMO Capital Markets reaffirmed an outperform rating and set a $43.00 target price (up from $38.00) on shares of Snyder’s-Lance in a research report on Wednesday, August 9th. TheStreet upgraded Snyder’s-Lance from a c+ rating to a b rating in a report on Tuesday, August 8th. UBS AG restated a neutral rating and issued a $39.00 price objective (up previously from $35.00) on shares of Snyder’s-Lance in a research note on Thursday, August 10th. BidaskClub downgraded Snyder’s-Lance from a buy rating to a hold rating in a research note on Tuesday, August 1st. Finally, Jefferies Group LLC set a $44.00 price target on Snyder’s-Lance and gave the stock a buy rating in a research note on Saturday, July 29th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $40.50.

Snyder’s-Lance (NASDAQ LNCE) traded down $0.03 during trading on Wednesday, reaching $36.96. The company’s stock had a trading volume of 601,344 shares, compared to its average volume of 298,680. Snyder’s-Lance has a 1 year low of $31.03 and a 1 year high of $40.85. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.92 and a current ratio of 1.49. The company has a market capitalization of $3,575.03, a PE ratio of 32.74 and a beta of 0.71.

Snyder’s-Lance (NASDAQ:LNCE) last released its quarterly earnings results on Tuesday, August 8th. The company reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.01. Snyder’s-Lance had a return on equity of 5.34% and a net margin of 1.60%. The company had revenue of $579.60 million for the quarter, compared to analysts’ expectations of $565.66 million. During the same period in the previous year, the business posted $0.28 earnings per share. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. research analysts forecast that Snyder’s-Lance will post 1.16 earnings per share for the current year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 28th. Stockholders of record on Monday, November 20th will be given a $0.16 dividend. The ex-dividend date is Friday, November 17th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.73%. Snyder’s-Lance’s dividend payout ratio is currently 177.78%.

In related news, Director Isaiah Tidwell sold 1,500 shares of Snyder’s-Lance stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $37.35, for a total value of $56,025.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Patricia A. Warehime acquired 21,263 shares of the company’s stock in a transaction dated Thursday, August 17th. The stock was acquired at an average cost of $37.25 per share, with a total value of $792,046.75. The disclosure for this purchase can be found here. Company insiders own 13.70% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. FNY Partners Fund LP bought a new stake in Snyder’s-Lance during the 2nd quarter valued at $103,000. PNC Financial Services Group Inc. lifted its holdings in shares of Snyder’s-Lance by 17.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,060 shares of the company’s stock valued at $107,000 after purchasing an additional 465 shares during the last quarter. Creative Planning lifted its holdings in shares of Snyder’s-Lance by 68.7% during the 2nd quarter. Creative Planning now owns 4,083 shares of the company’s stock valued at $141,000 after purchasing an additional 1,663 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Snyder’s-Lance by 5.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,272 shares of the company’s stock valued at $148,000 after purchasing an additional 214 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in shares of Snyder’s-Lance by 12.7% during the 2nd quarter. US Bancorp DE now owns 4,553 shares of the company’s stock valued at $158,000 after purchasing an additional 513 shares during the last quarter. 66.25% of the stock is currently owned by institutional investors.

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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