Lamb Weston Up More Than 35% In A Year On Solid Sales Trend
Zacks Investment Research | Feb 16, 2020 09:55PM ET
Lamb Weston Holdings Inc. (NYSE:LW) has been benefiting from its focus on limited time offerings (LTOs) along with acquisition and other expansion efforts. These efforts along with favorable price/mix have helped the company to sustain a solid top-line trend.
Markedly, management raised its net sales and adjusted EBITDA outlook for fiscal 2020, when it reported second-quarter results. It expects net sales to increase at high end of mid-single digit range compared with its previous guidance of mid-single digits growth. Adjusted EBITDA (including unconsolidated joint ventures) is expected in the range of $965-$985 million, up from its previous guidance of $950-$970 million.
Clearly, these upsides have raised analysts’ optimism regarding the stock’s performance. Evidently, the Zacks Consensus Estimate for fiscal 2020 earnings has inched up by a couple of cents to $3.52 in the past 30 days. Moreover, Lamb Weston’s impressive performance has been boosting investors’ sentiment for long. This Zacks Rank #2 (Buy) stock has rallied 38.4% in the past year compared with the Zacks Investment Research
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