Lifeway Foods (NASDAQ:LWAY) Price Target Raised to $33.00

Key Points

• Lifeway Foods (NASDAQ:LWAY) has had its price target increased from $30.00 to $33.00 by Lake Street Capital, indicating a potential upside of 7.26% from its previous close.
• The company reported a quarterly earnings per share (EPS) of $0.28, surpassing the consensus estimate of $0.18, alongside a revenue of $53.90 million.
• Insider trading activity revealed that Director Jason Scott Scher and CEO Julie Smolyansky recently sold significant shares, with Scher decreasing ownership by 99.99% after selling 16,366 shares.

Lifeway Foods (NASDAQ:LWAY - Get Free Report) had its price target boosted by investment analysts at Lake Street Capital from $30.00 to $33.00 in a research note issued on Wednesday, MarketBeat reports. The firm currently has a "buy" rating on the stock. Lake Street Capital's price objective would indicate a potential upside of 6.83% from the stock's current price.

Separately, Wall Street Zen upgraded shares of Lifeway Foods to a "hold" rating in a report on Saturday, July 12th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $29.00.

Lifeway Foods Price Performance

Shares of NASDAQ LWAY traded up $0.38 during mid-day trading on Wednesday, hitting $30.89. The company had a trading volume of 14,814 shares, compared to its average volume of 52,203. The stock has a market cap of $470.45 million, a price-to-earnings ratio of 44.77 and a beta of 0.69. Lifeway Foods has a 12 month low of $17.82 and a 12 month high of $31.40. The firm's 50 day simple moving average is $25.87 and its two-hundred day simple moving average is $23.90.

Lifeway Foods (NASDAQ:LWAY - Get Free Report) last released its quarterly earnings results on Tuesday, August 12th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.18 by $0.10. Lifeway Foods had a net margin of 5.49% and a return on equity of 14.32%. The business had revenue of $53.90 million during the quarter, compared to analyst estimates of $54.00 million.

Insider Buying and Selling

In other news, Director Jason Scott Scher sold 16,366 shares of the company's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $24.24, for a total transaction of $396,711.84. Following the transaction, the director owned 1 shares of the company's stock, valued at $24.24. This represents a 99.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last 90 days, insiders have sold 25,566 shares of company stock worth $618,122. 18.86% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lifeway Foods

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. JBF Capital Inc. bought a new stake in shares of Lifeway Foods in the 1st quarter valued at about $672,000. Rhumbline Advisers raised its position in shares of Lifeway Foods by 8.2% in the 1st quarter. Rhumbline Advisers now owns 6,068 shares of the company's stock valued at $148,000 after buying an additional 462 shares in the last quarter. Bank of Montreal Can bought a new stake in Lifeway Foods during the fourth quarter worth $388,000. Skandinaviska Enskilda Banken AB publ bought a new position in Lifeway Foods in the first quarter valued at about $221,000. Finally, Beryl Capital Management LLC acquired a new position in Lifeway Foods during the 4th quarter worth approximately $3,607,000. 36.39% of the stock is owned by institutional investors.

About Lifeway Foods

Lifeway Foods, Inc produces and markets probiotic-based products in the United States and internationally. Its primary product is drinkable kefir, a cultured dairy product in various organic and non-organic sizes, flavors, and types. The company offers European-style soft cheeses; cream and other products; ProBugs, a line of kefir products designed for children; drinkable yogurt; and fresh made butter and sour cream.