Snyder’s-Lance, Inc. (LNCE) Receives $39.75 Consensus Target Price from Brokerages

Snyder’s-Lance, Inc. (NASDAQ:LNCE) has earned a consensus rating of “Buy” from the seven ratings firms that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $39.40.

Several research firms have recently commented on LNCE. SunTrust Banks, Inc. downgraded shares of Snyder’s-Lance from a “buy” rating to a “hold” rating and decreased their target price for the stock from $45.00 to $30.00 in a research report on Monday, April 17th. Zacks Investment Research raised shares of Snyder’s-Lance from a “sell” rating to a “hold” rating in a research report on Wednesday, April 19th. Jefferies Group LLC reissued a “buy” rating and set a $44.00 target price on shares of Snyder’s-Lance in a research report on Wednesday, April 26th. Finally, BMO Capital Markets reissued a “buy” rating and set a $38.00 target price on shares of Snyder’s-Lance in a research report on Tuesday.

Snyder’s-Lance (NASDAQ LNCE) traded down 2.81% during trading on Tuesday, reaching $35.64. The company’s stock had a trading volume of 1,396,261 shares. Snyder’s-Lance has a 12 month low of $31.03 and a 12 month high of $40.85. The stock’s 50-day moving average is $36.28 and its 200 day moving average is $37.95. The company has a market cap of $3.44 billion, a P/E ratio of 67.76 and a beta of 0.67.

Snyder’s-Lance (NASDAQ:LNCE) last posted its quarterly earnings results on Monday, May 8th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.14 by $0.01. Snyder’s-Lance had a net margin of 2.25% and a return on equity of 5.36%. The company had revenue of $531.50 million during the quarter, compared to the consensus estimate of $529.53 million. During the same period last year, the firm posted $0.25 earnings per share. The company’s revenue for the quarter was up 18.7% on a year-over-year basis. On average, equities analysts forecast that Snyder’s-Lance will post $1.11 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, May 26th. Stockholders of record on Thursday, May 18th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend was Tuesday, May 16th. Snyder’s-Lance’s payout ratio is presently 123.08%.

In other Snyder’s-Lance news, Director Peter P. Brubaker bought 1,000 shares of the firm’s stock in a transaction dated Friday, May 26th. The stock was bought at an average cost of $37.10 per share, with a total value of $37,100.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 13.70% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Oppenheimer & Co. Inc. increased its stake in Snyder’s-Lance by 0.4% in the first quarter. Oppenheimer & Co. Inc. now owns 16,635 shares of the company’s stock valued at $671,000 after buying an additional 65 shares during the last quarter. BB&T Securities LLC increased its stake in shares of Snyder’s-Lance by 1.1% in the first quarter. BB&T Securities LLC now owns 8,062 shares of the company’s stock worth $324,000 after buying an additional 84 shares during the last quarter. Capstone Asset Management Co. increased its stake in shares of Snyder’s-Lance by 1.6% in the first quarter. Capstone Asset Management Co. now owns 5,751 shares of the company’s stock worth $232,000 after buying an additional 90 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Snyder’s-Lance by 1.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,758 shares of the company’s stock worth $221,000 after buying an additional 96 shares during the last quarter. Finally, Atria Investments LLC increased its stake in shares of Snyder’s-Lance by 1.8% in the first quarter. Atria Investments LLC now owns 6,128 shares of the company’s stock worth $247,000 after buying an additional 109 shares during the last quarter. 65.11% of the stock is owned by institutional investors.

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About Snyder’s-Lance

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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