Citigroup Raises Lamb Weston (NYSE:LW) Price Target to $75.00

Lamb Weston (NYSE:LW) had its price target upped by equities researchers at Citigroup from $72.00 to $75.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the specialty retailer’s stock. Citigroup’s target price suggests a potential upside of 15.94% from the stock’s current price.

LW has been the subject of several other reports. JPMorgan Chase & Co. dropped their target price on shares of Lamb Weston from $108.00 to $63.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. Barclays cut their target price on shares of Lamb Weston from $96.00 to $70.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. TD Cowen downgraded Lamb Weston from a “buy” rating to a “hold” rating and lowered their price target for the company from $105.00 to $61.00 in a research report on Thursday, July 25th. Stifel Nicolaus cut Lamb Weston from a “buy” rating to a “hold” rating and cut their price objective for the stock from $115.00 to $60.00 in a report on Thursday, July 25th. Finally, The Goldman Sachs Group decreased their price objective on Lamb Weston from $132.00 to $78.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $80.30.

Lamb Weston Price Performance

Shares of Lamb Weston stock traded down $0.75 during trading on Monday, hitting $64.69. The stock had a trading volume of 595,555 shares, compared to its average volume of 2,483,561. The company has a current ratio of 1.29, a quick ratio of 0.59 and a debt-to-equity ratio of 1.92. Lamb Weston has a 12 month low of $52.99 and a 12 month high of $111.88. The firm has a market cap of $9.34 billion, a price-to-earnings ratio of 8.64, a P/E/G ratio of 5.96 and a beta of 0.75. The business’s 50-day moving average is $63.43 and its 200 day moving average is $79.45.

Lamb Weston (NYSE:LW) last announced its 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 business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.71 billion. Lamb Weston had a return on equity of 44.06% and a net margin of 11.22%. As a group, sell-side analysts anticipate that Lamb Weston will post 4.54 earnings per share for the current year.

Insider Activity

In other news, Director William G. Jurgensen purchased 10,000 shares of the company’s stock in a transaction on Friday, July 26th. The stock was acquired at an average price of $55.43 per share, with a total value of $554,300.00. Following the transaction, the director now directly owns 173,377 shares of the company’s stock, valued at approximately $9,610,287.11. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of LW. Sanctuary Advisors LLC purchased a new position in Lamb Weston during the 2nd quarter valued at $1,106,000. Maven Securities LTD bought a new stake in shares of Lamb Weston during the 2nd quarter valued at about $504,000. Cetera Investment Advisers increased its position in shares of Lamb Weston by 57.5% during the second quarter. Cetera Investment Advisers now owns 30,499 shares of the specialty retailer’s stock valued at $2,564,000 after buying an additional 11,138 shares during the period. EP Wealth Advisors LLC raised its stake in Lamb Weston by 6.3% in the second quarter. EP Wealth Advisors LLC now owns 4,037 shares of the specialty retailer’s stock worth $339,000 after buying an additional 239 shares in the last quarter. Finally, Kimelman & Baird LLC bought a new stake in Lamb Weston during the 2nd quarter valued at approximately $206,000. Hedge funds and other institutional investors 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.