Bank of America Boosts Lamb Weston (NYSE:LW) Price Target to $80.00

Lamb Weston (NYSE:LW) had its price objective raised by investment analysts at Bank of America from $68.00 to $80.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “neutral” rating on the specialty retailer’s stock. Bank of America‘s price target would suggest a potential upside of 2.28% from the stock’s current price.

Other research analysts have also issued research reports about the company. Consumer Edge lowered Lamb Weston from an “overweight” rating to an “equal weight” rating in a report on Friday, July 26th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $68.00 price target (up previously from $63.00) on shares of Lamb Weston in a report on Monday, October 7th. Stifel Nicolaus lifted their price target on shares of Lamb Weston from $60.00 to $65.00 and gave the company a “hold” rating in a research report on Thursday, October 3rd. Barclays upped their price objective on shares of Lamb Weston from $70.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, October 4th. Finally, TD Cowen lifted their target price on shares of Lamb Weston from $61.00 to $65.00 and gave the stock a “hold” rating in a report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Lamb Weston presently has an average rating of “Hold” and an average target price of $79.00.

Lamb Weston Stock Up 10.2 %

NYSE:LW opened at $78.22 on Monday. Lamb Weston has a 1-year low of $52.99 and a 1-year high of $111.88. The firm has a market capitalization of $11.29 billion, a price-to-earnings ratio of 10.44, a PEG ratio of 1.27 and a beta of 0.75. The company has a current ratio of 1.19, a quick ratio of 0.54 and a debt-to-equity ratio of 1.87. The business’s fifty day moving average price is $65.02 and its 200 day moving average price is $74.60.

Lamb Weston (NYSE:LW) last posted its quarterly earnings results on Tuesday, October 1st. The specialty retailer reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.55 billion. Lamb Weston had a net margin of 9.57% and a return on equity of 34.33%. The firm’s revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.63 earnings per share. On average, sell-side analysts forecast that Lamb Weston will post 4.26 earnings per share for the current fiscal year.

Insider Activity

In other news, Director William G. Jurgensen bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were acquired at an average cost of $55.43 per share, with a total value of $554,300.00. Following the completion of the transaction, the director now directly owns 173,377 shares in the company, valued at $9,610,287.11. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.66% of the stock is owned by company insiders.

Institutional Investors Weigh In On Lamb Weston

A number of institutional investors have recently bought and sold shares of LW. Raymond James & Associates lifted its holdings in shares of Lamb Weston by 45.1% during the 3rd quarter. Raymond James & Associates now owns 269,059 shares of the specialty retailer’s stock worth $17,419,000 after acquiring an additional 83,615 shares during the period. Blue Trust Inc. raised its position in Lamb Weston by 117.9% in the third quarter. Blue Trust Inc. now owns 950 shares of the specialty retailer’s stock worth $62,000 after purchasing an additional 514 shares in the last quarter. Riverview Trust Co bought a new position in Lamb Weston during the third quarter worth about $35,000. Inspire Advisors LLC boosted its holdings in Lamb Weston by 25.3% during the third quarter. Inspire Advisors LLC now owns 7,349 shares of the specialty retailer’s stock valued at $476,000 after purchasing an additional 1,483 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its stake in shares of Lamb Weston by 26.7% in the 3rd quarter. V Square Quantitative Management LLC now owns 5,719 shares of the specialty retailer’s stock valued at $370,000 after purchasing an additional 1,204 shares during the period. Institutional investors and hedge funds own 89.56% of the company’s stock.

About Lamb Weston

Lamb Weston Holdings, Inc produces, distributes, and markets frozen potato products worldwide. The company operates through four segments: Global, Foodservice, Retail, and Other. It offers frozen potatoes, commercial ingredients, and appetizers under the Lamb Weston brand, as well as under various customer labels.