Lancaster Colony (NASDAQ:LANC) Price Target Raised to $207.00

Lancaster Colony (NASDAQ:LANC) had its target price increased by equities research analysts at DA Davidson from $192.00 to $207.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. DA Davidson’s price target would indicate a potential upside of 11.10% from the company’s previous close.

Other research analysts have also issued research reports about the stock. StockNews.com raised shares of Lancaster Colony from a “hold” rating to a “buy” rating in a research report on Thursday. Loop Capital reduced their target price on Lancaster Colony from $232.00 to $227.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Stephens increased their price objective on shares of Lancaster Colony from $196.00 to $200.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Finally, Benchmark reiterated a “hold” rating on shares of Lancaster Colony in a research report on Tuesday, November 19th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Lancaster Colony has an average rating of “Hold” and an average target price of $211.33.

Lancaster Colony Trading Down 1.3 %

NASDAQ:LANC traded down $2.40 during trading hours on Monday, hitting $186.32. 22,806 shares of the stock traded hands, compared to its average volume of 150,157. The firm has a market cap of $5.14 billion, a price-to-earnings ratio of 32.74 and a beta of 0.35. The firm has a 50 day moving average price of $177.63 and a 200 day moving average price of $180.90. Lancaster Colony has a fifty-two week low of $163.20 and a fifty-two week high of $209.81.

Lancaster Colony (NASDAQ:LANC) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $2.22 EPS for the quarter, beating the consensus estimate of $1.94 by $0.28. Lancaster Colony had a net margin of 8.26% and a return on equity of 19.51%. The business had revenue of $509.30 million for the quarter, compared to analysts’ expectations of $495.43 million. During the same period in the previous year, the company posted $1.87 EPS. Lancaster Colony’s revenue was up 4.8% on a year-over-year basis. Research analysts predict that Lancaster Colony will post 6.64 EPS for the current year.

Institutional Trading of Lancaster Colony

A number of institutional investors have recently modified their holdings of the stock. Sanctuary Advisors LLC acquired a new stake in Lancaster Colony in the second quarter valued at about $480,000. Inspire Investing LLC lifted its holdings in shares of Lancaster Colony by 25.1% during the third quarter. Inspire Investing LLC now owns 2,331 shares of the company’s stock worth $412,000 after purchasing an additional 468 shares during the period. Exchange Traded Concepts LLC grew its position in shares of Lancaster Colony by 27.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 4,777 shares of the company’s stock valued at $843,000 after buying an additional 1,040 shares during the last quarter. CHICAGO TRUST Co NA grew its position in shares of Lancaster Colony by 17.1% in the 3rd quarter. CHICAGO TRUST Co NA now owns 1,885 shares of the company’s stock valued at $333,000 after buying an additional 275 shares during the last quarter. Finally, Wesbanco Bank Inc. lifted its stake in shares of Lancaster Colony by 4,189.1% in the third quarter. Wesbanco Bank Inc. now owns 163,800 shares of the company’s stock worth $28,922,000 after acquiring an additional 159,981 shares during the period. 66.44% of the stock is currently owned by institutional investors.

About Lancaster Colony

Lancaster Colony Corporation engages in the manufacturing and marketing of specialty food products for the retail and foodservice channels in the United States. It operates in two segments, Retail and Foodservice. The company offers frozen garlic bread under the New York BRAND Bakery; frozen Parkerhouse style yeast and dinner rolls under the Sister Schubert's brand; salad dressings under the Marzetti, Simply Dressed, Cardini's, and Girard's brands; vegetable and fruit dips under the Marzetti brand; croutons and salad toppings under the New York BRAND Bakery, Chatham Village, and Marzetti brands; and frozen pasta under the Marzetti Frozen Pasta brand.