Lamb Weston (NYSE:LW) Price Target Lowered to $70.00 at Barclays

Lamb Weston (NYSE:LW) had its price target lowered by equities research analysts at Barclays from $96.00 to $70.00 in a report released on Friday, July 26th, Benzinga reports. The brokerage presently has an “overweight” rating on the specialty retailer’s stock. Barclays‘s price target indicates a potential upside of 13.05% from the company’s previous close.

LW has been the subject of several other reports. TD Cowen downgraded Lamb Weston from a “buy” rating to a “hold” rating and lowered their target price for the company from $105.00 to $61.00 in a research note on Thursday, July 25th. Consumer Edge cut shares of Lamb Weston from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 26th. Bank of America dropped their price target on shares of Lamb Weston from $138.00 to $113.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. The Goldman Sachs Group reduced their price objective on shares of Lamb Weston from $132.00 to $78.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Lamb Weston from $108.00 to $63.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Lamb Weston has a consensus rating of “Moderate Buy” and an average price target of $87.70.

Lamb Weston Price Performance

NYSE:LW traded up $0.62 during mid-day trading on Friday, reaching $61.92. 1,962,884 shares of the stock were exchanged, compared to its average volume of 2,520,579. Lamb Weston has a 1-year low of $52.99 and a 1-year high of $111.88. The company has a current ratio of 1.29, a quick ratio of 0.59 and a debt-to-equity ratio of 1.92. The business has a fifty day moving average price of $68.91 and a 200 day moving average price of $83.80. The firm has a market capitalization of $8.94 billion, a PE ratio of 8.27, a PEG ratio of 5.65 and a beta of 0.74.

Lamb Weston (NYSE:LW) last released its quarterly earnings results on Wednesday, July 24th. The specialty retailer reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.46). The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.71 billion. Lamb Weston had a net margin of 11.22% and a return on equity of 44.06%. Research analysts expect that Lamb Weston will post 4.55 earnings per share for the current fiscal year.

Insider Activity

In other news, Director William G. Jurgensen bought 10,000 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was bought at an average price of $55.43 per share, for a total transaction of $554,300.00. Following the completion of the transaction, the director now directly owns 173,377 shares in the company, valued at approximately $9,610,287.11. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.66% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Maven Securities LTD acquired a new position in Lamb Weston during the second quarter valued at approximately $504,000. Cetera Investment Advisers grew its position in shares of Lamb Weston by 57.5% in the 2nd quarter. Cetera Investment Advisers now owns 30,499 shares of the specialty retailer’s stock valued at $2,564,000 after acquiring an additional 11,138 shares during the period. EP Wealth Advisors LLC increased its stake in shares of Lamb Weston by 6.3% during the 2nd quarter. EP Wealth Advisors LLC now owns 4,037 shares of the specialty retailer’s stock worth $339,000 after purchasing an additional 239 shares during the last quarter. Kimelman & Baird LLC bought a new stake in shares of Lamb Weston in the 2nd quarter valued at about $206,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Lamb Weston by 42.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,554 shares of the specialty retailer’s stock worth $383,000 after purchasing an additional 1,349 shares during the period. 89.56% of the stock is owned by institutional investors and hedge funds.

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.