Price Action Alert: Is Buying All-time Stock Like Lancaster Colony Corp. a Winning Strategy?

Price Action Alert: Is Buying All time Stock Like Lancaster Colony Corp. a Winning Strategy?

The stock of Lancaster Colony Corp. (NASDAQ:LANC) reached all time high today, Nov, 22 and still has $142.09 target or 3.00% above today’s $137.95 share price. This indicates more upside for the $3.84B company. This technical setup was reported by Barchart.com. If the $142.09 PT is reached, the company will be worth $115.20 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 42,715 shares traded hands. Lancaster Colony Corp. (NASDAQ:LANC) has risen 25.52% since April 20, 2016 and is uptrending. It has outperformed by 20.96% the S&P500.

Lancaster Colony Corp. (NASDAQ:LANC) Ratings Coverage

Out of 3 analysts covering Lancaster Colony Corporation (NASDAQ:LANC), 0 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 0 are positive. Lancaster Colony Corporation has been the topic of 8 analyst reports since August 21, 2015 according to StockzIntelligence Inc. Wedbush maintained the stock with “Neutral” rating in Friday, April 29 report. Wedbush maintained the stock with “Neutral” rating in Friday, January 29 report. On Monday, August 24 the stock rating was upgraded by Zacks to “Hold”. BB&T Capital initiated Lancaster Colony Corp. (NASDAQ:LANC) rating on Tuesday, September 1. BB&T Capital has “Buy” rating and $110 price target. The rating was initiated by Longbow on Friday, November 4 with “Neutral”. The stock of Lancaster Colony Corp. (NASDAQ:LANC) has “Hold” rating given on Monday, May 9 by BB&T Capital.

According to Zacks Investment Research, “Lancaster Colony Corp. manufactures and markets three families of products: Glassware and Candles; Specialty Foods; and Automotive. Consumer glassware includes a diverse line of decorative and ornamental products such as tumblers, bowls, pitchers, jars and barware. The food products manufactured and sold include salad dressings and sauces; fruit glazes, veggie dips and fruit dips; frozen unbaked pies. It also manufactures and sells a complete line of rubber, vinyl and carpeted car mats both in the aftermarket and to original equipment manufacturers.”

Insitutional Activity: The institutional sentiment decreased to 1.01 in Q2 2016. Its down 0.21, from 1.22 in 2016Q1. The ratio dived, as 18 funds sold all Lancaster Colony Corp. shares owned while 64 reduced positions. 28 funds bought stakes while 72 increased positions. They now own 13.90 million shares or 4.34% less from 14.53 million shares in 2016Q1.
Sg Americas Secs Ltd Liability Company has 7,264 shares for 0.01% of their US portfolio. National Bank & Trust Of America De reported 94,557 shares or 0% of all its holdings. Comml Bank Of Montreal Can last reported 12,556 shares in the company. Jacobs Levy Equity last reported 10,426 shares in the company. American Intll Gp has invested 0% of its portfolio in Lancaster Colony Corp. (NASDAQ:LANC). Yacktman Asset Mngmt L P has 305,400 shares for 0.32% of their US portfolio. Price T Rowe Md last reported 0% of its portfolio in the stock. Aperio Group Limited Liability Co owns 118,473 shares or 0.12% of their US portfolio. Channing Capital Mgmt Ltd Limited Liability Company holds 128,693 shares or 0.69% of its portfolio. Ajo Lp, a Pennsylvania-based fund reported 16,495 shares. Wells Fargo & Mn accumulated 0% or 36,830 shares. Peak6 Invests L P holds 5,262 shares or 0.01% of its portfolio. Moreover, Blackrock Invest Management Limited has 0.02% invested in Lancaster Colony Corp. (NASDAQ:LANC) for 117,890 shares. Teachers Retirement System Of The State Of Kentucky, a Kentucky-based fund reported 4,700 shares. Ladenburg Thalmann Service has 0% invested in the company for 161 shares.

More recent Lancaster Colony Corp. (NASDAQ:LANC) news were published by: Prnewswire.com which released: “Lancaster Colony Acquires Angelic Bakehouse, Inc.” on November 03, 2016. Also Marketwatch.com published the news titled: “/quotes/zigman/3870025/realtime” on October 25, 2010. Prnewswire.com‘s news article titled: “Lancaster Colony Acquires Flatout Holdings, Inc.” with publication date: March 13, 2015 was also an interesting one.

LANC Company Profile

Lancaster Colony Corporation, incorporated on October 11, 1991, is a maker and marketer of specialty food products for the retail and foodservice channels. The Company’s food products include Salad dressings and sauces, Vegetable dips and fruit dips, Frozen garlic breads, Frozen Parkerhouse style yeast rolls and dinner rolls, Premium dry egg noodles, Frozen specialty noodles, Croutons and salad toppings, Flatbread wraps and pizza crusts, and Caviar. The Company’s brands include Marzetti, Marzetti Simply Dressed, Cardini’s, Girard’s, Katherine’s Kitchen, New York BRAND Bakery, Mamma Bella, Mamma Bella’s, Sister Schubert’s, Mary B’s, Inn Maid, Amish Kitchen, Reames, Aunt Vi’s, Flatout and Romanoff.

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