Jefferies Begins Coverage on Snyder’s-Lance (NASDAQ:LNCE). What’s Next?

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How Jefferies Currently Rates Snyder’s-Lance (NASDAQ:LNCE)

Analysts at Jefferies have begun coverage for shares of Snyder’s-Lance (NASDAQ:LNCE) in a note revealed to clients and investors on 16 December. The firm set a “Buy” rating on the $2.52B market cap firm.

From a total of 4 analysts covering Snyder’s-Lance Inc (NASDAQ:LNCE) stock, 4 rate it a ”Buy”, 0 a “Sell”, and 3 a ”Hold”. This means that 57% of the ratings are positive. The highest target price is $45 while the lowest target price is $32. The mean of all analyst targets is $38.5 with a 2.17% above today’s ($35.97) stock price. Snyder’s-Lance Inc was the topic of 8 analyst reports since August 12, 2015 according to the firm StockzIntelligence Inc. Suntrust Robinson upgraded shares on October 29 to “Buy” rating. BB&T Capital upgraded LNCE stock in a recent report from October 29 to “Buy” rating. Finally, Zacks upgraded the stock to “Hold” rating in a report issued on an August 12.

Approximately 85,940 shares of stock traded hands. Snyder’s-Lance Inc (NASDAQ:LNCE) has risen 22.34% since May 13, 2015 and is uptrending. It has outperformed by 24.96% the S&P500.

The overall sentiment of institutions has decreased to 1.31 in Q2 2015. Its down 0.52, from 1.83 in 2015Q2. The ratio dived, as 9 institutions have sold all the shares of Snyder’s-Lance Inc that they owned while 50 funds have taken shares off the table. 17 funds have purchased shares for the first time while 60 added to their positions. These institutions now hold 27.72 million shares or 14.88% less than the 32.57 million shares they owned in 2015Q2.

The Fund Sandhill Capital Partners Llc currently is holding shares equating to 4.43% of its total portfolio in Snyder’s-Lance Inc representing a total of 393,375 shares. Another fund,Managed Asset Portfolios Llc, is holding a total of 207,547 shares equating to 3.6% of their holdings. Additionally, Otter Creek Management Inc has a 79,000 share stake in Snyder’s-Lance Inc which represents 2.47% of their total portfolio. The Fund, Champlain Investment Partners Llc, based out of Us, has also built up a stake in the stock, which represents a total of 1.12% of their total portfolio. Finally Fiduciary Management Associates Llc, a fund which is based in the state of Illinois reported a total holdings of 492,796 shares.

Snyder’s-Lance, Inc. is a national snack food company. The company has a market cap of $2.52 billion. The Firm is engaged in the manufacturing, distribution, marketing and sale of snack food products. It has 36.25 P/E ratio. The Company’s products include pretzels, sandwich crackers, kettle cooked chips, pretzel crackers, cookies, potato chips, tortilla chips, nuts, restaurant style crackers and other salty snacks.

According to Zacks Investment Research, “Synders-Lance Inc, formerly known as Lancer Inc, is engaged in the manufacture, market and distribution of a variety of branded and private label snack foods and bakery products. Products include branded sandwich crackers, sandwich cookies, restaurant crackers and bread basket items, candy, chips, meat snacks, nuts and private label cookies and crackers. Products are packaged as individual, single servings and as larger packages or multi-pack configurations and are distributed to grocery stores, convenience stores, vending machines, food service institutions, and through up and down the street outlets .”

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