DA Davidson Has Lowered Expectations for Marzetti (NASDAQ:MZTI) Stock Price

Marzetti (NASDAQ:MZTI) had its price objective reduced by research analysts at DA Davidson from $184.00 to $168.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. DA Davidson’s target price would indicate a potential upside of 14.03% from the stock’s previous close.

MZTI has been the subject of a number of other research reports. Weiss Ratings restated a “hold (c)” rating on shares of Marzetti in a research report on Friday, January 9th. Wall Street Zen cut Marzetti from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, Stephens reduced their price target on shares of Marzetti from $190.00 to $180.00 and set an “equal weight” rating for the company in a report on Wednesday, February 4th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $182.67.

Marzetti Price Performance

Shares of NASDAQ:MZTI traded down $4.12 during trading on Monday, reaching $147.33. 143,215 shares of the company’s stock traded hands, compared to its average volume of 192,118. The stock has a market capitalization of $4.04 billion, a P/E ratio of 22.58 and a beta of 0.40. Marzetti has a 12 month low of $147.91 and a 12 month high of $193.40. The company has a 50 day moving average of $163.56 and a 200-day moving average of $167.81.

Marzetti (NASDAQ:MZTI) last issued its earnings results on Tuesday, February 3rd. The company reported $2.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.08). The business had revenue of $509.77 million during the quarter. Marzetti had a return on equity of 18.55% and a net margin of 9.25%.The company’s revenue was up 1.7% on a year-over-year basis. Equities research analysts predict that Marzetti will post 6.8 earnings per share for the current fiscal year.

Institutional Trading of Marzetti

Several hedge funds have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Marzetti during the fourth quarter valued at about $249,000. Carnegie Investment Counsel bought a new position in Marzetti in the 4th quarter valued at about $321,000. Triad Wealth Partners LLC bought a new position in Marzetti in the 4th quarter valued at about $629,000. Signaturefd LLC acquired a new position in Marzetti during the 4th quarter valued at about $222,000. Finally, Blue Trust Inc. acquired a new position in Marzetti during the 4th quarter valued at about $57,000. 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.