Zacks Investment Research Lowers Lamb Weston (LW) to Hold

Lamb Weston (NYSE:LW) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday.

According to Zacks, “Lamb Weston Holdings, Inc. is a supplier of frozen potato, sweet potato, appetizer and vegetable products to restaurants and retailers. Lamb Weston Holdings, Inc. is headquartered in Eagle, Idaho. “

Several other research analysts also recently commented on LW. Jefferies Group lifted their price objective on Lamb Weston to $64.00 and gave the stock a “buy” rating in a report on Wednesday. Stifel Nicolaus lifted their price objective on Lamb Weston from $54.00 to $58.00 and gave the stock a “hold” rating in a report on Tuesday, January 2nd. Morgan Stanley reiterated an “equal weight” rating and issued a $50.00 price objective (up previously from $46.00) on shares of Lamb Weston in a report on Thursday, October 5th. Finally, Bank of America lifted their price objective on Lamb Weston from $52.00 to $57.00 and gave the stock a “buy” rating in a report on Monday, November 6th. Four research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $53.13.

Shares of Lamb Weston (NYSE LW) opened at $57.70 on Friday. The company has a debt-to-equity ratio of -4.10, a quick ratio of 0.67 and a current ratio of 1.62. Lamb Weston has a 52 week low of $35.81 and a 52 week high of $58.00. The stock has a market capitalization of $8,440.00 and a PE ratio of 25.76.

Lamb Weston (NYSE:LW) last released its quarterly earnings data on Thursday, January 4th. The specialty retailer reported $0.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.01. The firm had revenue of $824.60 million for the quarter, compared to the consensus estimate of $815.29 million. Lamb Weston had a negative return on equity of 50.90% and a net margin of 9.85%. The company’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 earnings per share. sell-side analysts forecast that Lamb Weston will post 2.4 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in LW. Janus Henderson Group PLC increased its holdings in Lamb Weston by 33,787.6% during the 2nd quarter. Janus Henderson Group PLC now owns 2,676,101 shares of the specialty retailer’s stock valued at $117,856,000 after purchasing an additional 2,668,204 shares during the period. Kensico Capital Management Corp increased its holdings in Lamb Weston by 56.9% during the 3rd quarter. Kensico Capital Management Corp now owns 3,640,000 shares of the specialty retailer’s stock valued at $170,680,000 after purchasing an additional 1,320,000 shares during the period. Conatus Capital Management LP purchased a new position in Lamb Weston during the 2nd quarter valued at about $41,925,000. Balyasny Asset Management LLC increased its holdings in Lamb Weston by 5,398.6% during the 2nd quarter. Balyasny Asset Management LLC now owns 716,192 shares of the specialty retailer’s stock valued at $31,541,000 after purchasing an additional 703,167 shares during the period. Finally, Harris Associates L P purchased a new position in Lamb Weston during the 2nd quarter valued at about $30,823,000. Hedge funds and other institutional investors own 79.38% of the company’s stock.

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Lamb Weston Company Profile

Lamb Weston Holdings, Inc (Lamb Weston), is a supplier of frozen potato, sweet potato, appetizer and vegetable products to restaurants and retailers around the world. The Company’s segments include Global, Foodservice, Retail and Other. The Global segment includes operations associated with Lamb Weston’s business with large chain restaurant customers, whether those results are generated in the United States or abroad, as well as operations associated with retail and foodservice customers located outside of the United States and Canada.

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