Lamb Weston Holdings Inc. (NYSE:LW) Downgraded by Zacks Investment Research to Hold

Lamb Weston Holdings Inc. (NYSE:LW) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, July 28th.

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. “

Other equities research analysts have also issued research reports about the stock. Jefferies Group LLC restated a “buy” rating and issued a $53.00 price target (up previously from $50.00) on shares of Lamb Weston Holdings in a report on Friday, May 19th. Berenberg Bank started coverage on shares of Lamb Weston Holdings in a report on Tuesday, May 16th. They issued a “buy” rating and a $49.00 price target for the company. Bank of America Corporation boosted their price target on shares of Lamb Weston Holdings from $46.00 to $48.00 and gave the company a “buy” rating in a report on Monday, July 10th. Morgan Stanley restated an “equal weight” rating and issued a $46.00 price target (up previously from $45.00) on shares of Lamb Weston Holdings in a report on Wednesday, July 26th. Finally, Stifel Nicolaus lowered shares of Lamb Weston Holdings from a “buy” rating to a “hold” rating and boosted their price target for the company from $42.00 to $44.00 in a report on Friday, April 7th. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Lamb Weston Holdings currently has an average rating of “Buy” and an average price target of $46.22.

Shares of Lamb Weston Holdings (NYSE LW) traded up 0.62% during midday trading on Friday, reaching $43.89. 159,448 shares of the company’s stock were exchanged. The company has a market cap of $6.41 billion and a price-to-earnings ratio of 19.77. Lamb Weston Holdings has a 12-month low of $28.75 and a 12-month high of $49.94. The stock’s 50 day moving average price is $44.49 and its 200 day moving average price is $42.36.

Lamb Weston Holdings (NYSE:LW) last posted its quarterly earnings results on Tuesday, July 25th. The specialty retailer reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. The business had revenue of $833 million during the quarter, compared to the consensus estimate of $810.85 million. During the same quarter in the prior year, the firm posted $0.29 EPS. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities analysts anticipate that Lamb Weston Holdings will post $2.30 earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently bought and sold shares of LW. GAM Holding AG raised its position in Lamb Weston Holdings by 7.2% in the second quarter. GAM Holding AG now owns 58,159 shares of the specialty retailer’s stock valued at $2,561,000 after buying an additional 3,916 shares during the period. William Blair Investment Management LLC purchased a new position in Lamb Weston Holdings during the second quarter valued at approximately $700,000. BB&T Securities LLC purchased a new position in Lamb Weston Holdings during the second quarter valued at approximately $1,002,000. Blair William & Co. IL raised its position in Lamb Weston Holdings by 0.3% in the second quarter. Blair William & Co. IL now owns 6,600 shares of the specialty retailer’s stock valued at $291,000 after buying an additional 21 shares during the period. Finally, BNP Paribas Arbitrage SA raised its position in Lamb Weston Holdings by 58.0% in the second quarter. BNP Paribas Arbitrage SA now owns 55,487 shares of the specialty retailer’s stock valued at $2,444,000 after buying an additional 20,365 shares during the period. Hedge funds and other institutional investors own 77.26% of the company’s stock.

Lamb Weston Holdings 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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