Bank of America Cuts Lamb Weston (NYSE:LW) Price Target to $56.00

Lamb Weston (NYSE:LW - Get Free Report) had its price objective reduced by analysts at Bank of America from $60.00 to $56.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the specialty retailer's stock. Bank of America's price objective suggests a potential upside of 4.69% from the stock's previous close.

A number of other equities analysts have also issued reports on the company. Stifel Nicolaus set a $56.00 price target on Lamb Weston and gave the company a "hold" rating in a research note on Thursday, April 24th. Wells Fargo & Company decreased their price target on Lamb Weston from $72.00 to $66.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. Wall Street Zen upgraded Lamb Weston from a "sell" rating to a "hold" rating in a research report on Thursday, May 8th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $57.00 price objective on shares of Lamb Weston in a research report on Wednesday, March 19th. Finally, Jefferies Financial Group cut their price objective on Lamb Weston from $80.00 to $75.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $67.73.

Lamb Weston Stock Performance

LW stock traded up $0.27 on Wednesday, reaching $53.49. The company's stock had a trading volume of 2,430,305 shares, compared to its average volume of 2,659,919. Lamb Weston has a 52 week low of $47.90 and a 52 week high of $85.79. The company has a market capitalization of $7.55 billion, a P/E ratio of 20.98, a price-to-earnings-growth ratio of 1.16 and a beta of 0.49. The firm has a fifty day moving average of $53.18 and a two-hundred day moving average of $57.58. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.35 and a quick ratio of 0.58.

Lamb Weston (NYSE:LW - Get Free Report) last issued its quarterly earnings results on Thursday, April 3rd. The specialty retailer reported $1.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.87 by $0.23. The firm had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.50 billion. Lamb Weston had a return on equity of 27.25% and a net margin of 5.74%. The firm's quarterly revenue was up 4.3% on a year-over-year basis. During the same period last year, the company posted $1.20 EPS. As a group, analysts predict that Lamb Weston will post 3.1 EPS for the current fiscal year.

Institutional Trading of Lamb Weston

A number of hedge funds have recently modified their holdings of LW. Wayfinding Financial LLC purchased a new stake in shares of Lamb Weston during the first quarter worth $28,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of Lamb Weston during the first quarter worth $28,000. Whipplewood Advisors LLC raised its holdings in shares of Lamb Weston by 3,466.7% during the first quarter. Whipplewood Advisors LLC now owns 535 shares of the specialty retailer's stock worth $29,000 after acquiring an additional 520 shares in the last quarter. Putney Financial Group LLC purchased a new stake in shares of Lamb Weston during the fourth quarter worth $34,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Lamb Weston during the fourth quarter worth $36,000. 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.