Snyder's-Lance (NASDAQ:LNCE) had its target price boosted by investment analysts at SunTrust Banks to $50.00 in a research note issued to investors on Tuesday, The Fly reports. The brokerage presently has a “hold” rating on the stock. SunTrust Banks’ price objective suggests a potential downside of 0.08% from the company’s previous close.
Other research analysts also recently issued reports about the company. BidaskClub raised Snyder's-Lance from a “hold” rating to a “buy” rating in a research report on Tuesday. BMO Capital Markets downgraded 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. UBS lowered their price objective on 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. Zacks Investment Research cut Snyder's-Lance from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. Finally, TheStreet cut Snyder's-Lance from a “b” rating to a “c+” rating in a research report on Tuesday, November 7th. Four analysts have rated the stock with a hold rating and three have issued 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 (NASDAQ LNCE) opened at $50.04 on Tuesday. 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 capitalization of $4,559.92, a P/E ratio of 42.15 and a beta of 0.71. Snyder's-Lance has a 1 year low of $31.03 and a 1 year high of $50.29.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Snyder's-Lance by 1.7% during the second quarter. BlackRock Inc. now owns 8,665,893 shares of the company’s stock valued at $300,013,000 after purchasing an additional 145,840 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Snyder's-Lance by 108.4% during the second 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 period. Dimensional Fund Advisors LP increased its position in shares of Snyder's-Lance by 5.1% during the third quarter. Dimensional Fund Advisors LP now owns 3,491,528 shares of the company’s stock valued at $133,166,000 after purchasing an additional 168,643 shares during the period. State Street Corp increased its position in shares of Snyder's-Lance by 5.7% during the second quarter. State Street Corp now owns 2,805,872 shares of the company’s stock valued at $97,137,000 after purchasing an additional 150,943 shares during the period. Finally, Eagle Asset Management Inc. increased its position in shares of Snyder's-Lance by 2.8% during the third quarter. Eagle Asset Management Inc. now owns 2,312,214 shares of the company’s stock valued at $89,158,000 after purchasing an additional 62,904 shares during the period. Institutional investors and hedge funds own 64.51% of the company’s stock.
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.
