Our call to go long Lancaster Colony (LANC) was right on point and we could not have timed it more perfectly at the beginning of September. Shares are up over 18% since that time. Now we see shares as being fully valued, especially after the company's disappointing earnings miss at the end of October. 1Q EPS came in 12 cents weaker than expectations. Weakness in its core business and the lack of a long-term growth driver has us reassessing our position on the company.
Simple but steady business model
Lancaster started out in 1969 as a glass and houseware manufacturing company. It first entered the food business with its purchase of T. Marzetti Company. Its...
Only subscribers can access this article, which is part of the PRO research library covering 3,592 different stocks.
Growing numbers of fund managers and other investment professionals subscribe to Seeking Alpha PRO for equity research that is unavailable elsewhere, so they can: