The Barchart Chart of the Day belong to the food products company Lancaster Colony (LANC). I found the stock by using Barchart to screen for stocks having a Weighted Alpha of over 50.00+ and technical buy signals of 80% or more. I then sorted by the stock having the most frequent number of new highs in the last month, then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Spotter signaled a buy in 10/22 the stock gained 13.60%.
Lancaster Colony Corporation is a manufacturer and marketer of specialty food products for the retail and foodservice markets. Lancaster Colony's wholly-owned subsidiaries, including T. Marzetti Company, produce and market high quality national and regionally-branded food products throughout the United States for the retail and foodservice markets. Most of their products sold through the retail channel are marketed under the company's popular brand names, such as Marzetti, New York Brand Bakery, Sister Schubert's and Flatout. The company's production plants across the United States make an expanded family of quality food products found every day on the dinner tables of millions of consumers, as well as in well-known restaurant chains nationwide.
Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
Barchart technical indicators:
- 96% technical buy signals
- 53.90+ Weighted Alpha
- 42.40% gain in the last year
- Trend Spotter buy signal
- Above its 20, 50 and 100 day moving average
- 14 new highs and up 29.11% in the last month
- Relative Strength Index 74.21%
- Technical support level at 175.90
- Recently traded at 177.91 with a 50 day moving average of 156.75
- Market Cap $4.88 billion
- P/E 37.25
- Dividend yield 1.35%
- Revenue expected to grow 5.10% is year and another 3.50% next year
- Earnings estimated to increase 10.80% this year, an additional 6.80% next year and continue to compound at an annual rate of 3.00% for the next 5 years
- Wall Street analysts issued 2 buy and 5 hold recommendations on the stock