Marzetti (NASDAQ:MZTI) Earns "Equal Weight" Rating from Stephens

Key Points

• Marzetti's stock (NASDAQ:MZTI) received an "equal weight" rating from Stephens, with a target price of $190.00, indicating a potential upside of 4.31% from its current price.
• Benchmark raised its price target on Marzetti shares from $185.00 to $200.00 and assigned a "buy" rating, while Wall Street Zen downgraded its rating from "buy" to "hold."
• For the latest quarter, Marzetti reported earnings per share (EPS) of $1.33, exceeding expectations, and saw a revenue increase of 5% year-over-year.

Marzetti (NASDAQ:MZTI - Get Free Report)'s stock had its "equal weight" rating reaffirmed by analysts at Stephens in a research report issued on Thursday,Benzinga reports. They currently have a $190.00 target price on the stock. Stephens' price target would suggest a potential upside of 4.31% from the stock's current price.

A number of other brokerages have also issued reports on MZTI. Benchmark boosted their price target on shares of Marzetti from $185.00 to $200.00 and gave the stock a "buy" rating in a research note on Friday, August 22nd. Wall Street Zen lowered shares of Marzetti from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $206.00.

Marzetti Stock Up 0.2%

Shares of Marzetti stock opened at $182.15 on Thursday. Marzetti has a 52-week low of $156.14 and a 52-week high of $202.63. The company's 50-day simple moving average is $175.03 and its 200-day simple moving average is $176.86. The firm has a market cap of $5.02 billion, a price-to-earnings ratio of 30.01 and a beta of 0.47.

Marzetti (NASDAQ:MZTI - Get Free Report) last issued its quarterly earnings results on Thursday, August 21st. The company reported $1.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.31 by $0.02. Marzetti had a net margin of 8.77% and a return on equity of 18.87%. The business had revenue of $475.43 million for the quarter, compared to analyst estimates of $455.26 million. During the same period in the previous year, the business posted $1.34 earnings per share. The business's revenue was up 5.0% compared to the same quarter last year. Equities research analysts anticipate that Marzetti will post 6.8 EPS for the current year.

Institutional Trading of Marzetti

Institutional investors and hedge funds have recently modified their holdings of the business. Opal Wealth Advisors LLC purchased a new stake in shares of Marzetti in the first quarter valued at about $26,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Marzetti in the first quarter valued at about $29,000. Headlands Technologies LLC purchased a new position in shares of Marzetti during the first quarter valued at approximately $44,000. State of Wyoming purchased a new position in shares of Marzetti during the first quarter valued at approximately $60,000. Finally, Quarry LP lifted its stake in shares of Marzetti by 1,350.0% during the first quarter. Quarry LP now owns 377 shares of the company's stock valued at $66,000 after buying an additional 351 shares during the period. Hedge funds and other institutional investors own 66.44% of the company's stock.

Marzetti Company Profile

Lancaster Colony Corporation engages in the manufacturing and marketing of specialty food products for the retail and foodservice channels in the United States. It operates in two segments, Retail and Foodservice. The company offers frozen garlic bread under the New York BRAND Bakery; frozen Parkerhouse style yeast and dinner rolls under the Sister Schubert's brand; salad dressings under the Marzetti, Simply Dressed, Cardini's, and Girard's brands; vegetable and fruit dips under the Marzetti brand; croutons and salad toppings under the New York BRAND Bakery, Chatham Village, and Marzetti brands; and frozen pasta under the Marzetti Frozen Pasta brand.

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