JPMorgan Chase & Co. Cuts Lamb Weston (NYSE:LW) Price Target to $63.00

Lamb Weston (NYSE:LW) had its target price dropped by equities research analysts at JPMorgan Chase & Co. from $108.00 to $63.00 in a research note issued on Thursday, July 25th, Benzinga reports. The firm currently has an “overweight” rating on the specialty retailer’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 1.74% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Bank of America dropped their target price on Lamb Weston from $138.00 to $113.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. Stifel Nicolaus downgraded shares of Lamb Weston from a “buy” rating to a “hold” rating and lowered their price target for the stock from $115.00 to $60.00 in a report on Thursday, July 25th. Barclays reduced their price objective on shares of Lamb Weston from $105.00 to $96.00 and set an “overweight” rating for the company in a research note on Friday, July 19th. Citigroup lowered their target price on shares of Lamb Weston from $106.00 to $104.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Finally, TD Cowen lowered shares of Lamb Weston from a “buy” rating to a “hold” rating and reduced their price target for the company from $105.00 to $61.00 in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Lamb Weston has a consensus rating of “Moderate Buy” and an average target price of $87.70.

Lamb Weston Stock Performance

NYSE LW traded up $0.62 during trading hours on Thursday, reaching $61.92. 1,962,884 shares of the company were exchanged, compared to its average volume of 2,520,579. The stock has a market capitalization of $8.94 billion, a P/E ratio of 8.27, a P/E/G ratio of 5.65 and a beta of 0.74. The company has a quick ratio of 0.59, a current ratio of 1.29 and a debt-to-equity ratio of 1.92. Lamb Weston has a 1 year low of $52.99 and a 1 year high of $111.88. The business’s 50 day simple moving average is $68.91 and its 200-day simple moving average is $83.80.

Lamb Weston (NYSE:LW) last released its earnings results on Wednesday, July 24th. The specialty retailer reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.46). Lamb Weston had a return on equity of 44.06% and a net margin of 11.22%. The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.71 billion. On average, equities research analysts expect that Lamb Weston will post 4.55 earnings per share for the current year.

Insider Buying and Selling at Lamb Weston

In other Lamb Weston news, Director William G. Jurgensen purchased 10,000 shares of Lamb Weston stock in a transaction on Friday, July 26th. The shares were acquired at an average cost of $55.43 per share, for a total transaction of $554,300.00. Following the completion of the transaction, the director now directly owns 173,377 shares of the company’s stock, valued at $9,610,287.11. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in LW. HB Wealth Management LLC bought a new position in shares of Lamb Weston in the fourth quarter worth approximately $211,000. Successful Portfolios LLC purchased a new stake in Lamb Weston in the fourth quarter worth $218,000. Eastover Investment Advisors LLC purchased a new stake in Lamb Weston in the fourth quarter worth $3,042,000. Deltec Asset Management LLC purchased a new stake in Lamb Weston in the fourth quarter worth $594,000. Finally, State of Michigan Retirement System lifted its stake in Lamb Weston by 3.8% in the fourth quarter. State of Michigan Retirement System now owns 41,432 shares of the specialty retailer’s stock worth $4,478,000 after acquiring an additional 1,500 shares during the period. 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.