Snyder's-Lance (NASDAQ:LNCE) Rating Increased to Buy at BidaskClub

BidaskClub upgraded shares of Snyder's-Lance (NASDAQ:LNCE) from a hold rating to a buy rating in a report issued on Tuesday, December 19th.

A number of other brokerages have also issued reports on LNCE. BMO Capital Markets lowered shares of Snyder's-Lance from an outperform rating to a market perform rating and set a $43.00 target price for the company. in a research note on Monday, December 18th. Deutsche Bank set a $50.00 target price on shares of Snyder's-Lance and gave the company a buy rating in a research note on Friday, December 15th. SunTrust Banks reissued a hold rating and set a $35.00 target price on shares of Snyder's-Lance in a research note on Friday, November 10th. Zacks Investment Research lowered shares of Snyder's-Lance from a buy rating to a hold rating in a research note on Friday, November 10th. Finally, TheStreet lowered shares of Snyder's-Lance from a b rating to a c+ rating in a research note on Tuesday, November 7th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Snyder's-Lance currently has a consensus rating of Hold and a consensus price target of $44.83.

Snyder's-Lance (LNCE) opened at $50.02 on Tuesday. Snyder's-Lance has a 52-week low of $31.03 and a 52-week high of $50.67. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.99 and a current ratio of 1.63. The firm has a market cap of $4,868.68, a P/E ratio of -96.19 and a beta of 0.70.

Snyder's-Lance (NASDAQ:LNCE) last posted its quarterly earnings data on Tuesday, November 7th. The company reported $0.33 earnings per share for the quarter, missing the 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 firm had revenue of $564.20 million for the quarter, compared to analysts’ expectations of $559.86 million. During the same quarter in the previous year, the firm posted $0.35 earnings per share. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. equities analysts anticipate that Snyder's-Lance will post 1.15 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in Snyder's-Lance by 1.7% during the 2nd quarter. BlackRock Inc. now owns 8,665,893 shares of the company’s stock worth $300,013,000 after acquiring an additional 145,840 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Snyder's-Lance by 108.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 4,165,505 shares of the company’s stock worth $144,210,000 after acquiring an additional 2,166,488 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Snyder's-Lance by 5.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,491,528 shares of the company’s stock worth $133,166,000 after acquiring an additional 168,643 shares during the last quarter. State Street Corp lifted its position in Snyder's-Lance by 5.7% during the 2nd quarter. State Street Corp now owns 2,805,872 shares of the company’s stock worth $97,137,000 after acquiring an additional 150,943 shares during the last quarter. Finally, Eagle Asset Management Inc. lifted its position in Snyder's-Lance by 2.8% during the 3rd quarter. Eagle Asset Management Inc. now owns 2,312,214 shares of the company’s stock worth $89,158,000 after acquiring an additional 62,904 shares during the last quarter. 64.65% of the stock is owned by institutional investors and hedge funds.

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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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