Lifeway Foods (NASDAQ:LWAY) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of Lifeway Foods (NASDAQ:LWAY - Free Report) from a hold rating to a buy rating in a report published on Saturday.

LWAY has been the topic of several other research reports. Noble Financial raised shares of Lifeway Foods from a market perform rating to an outperform rating and set a $20.00 price target on the stock in a research report on Thursday, May 30th. Lake Street Capital raised their price target on Lifeway Foods from $25.00 to $28.00 and gave the stock a buy rating in a report on Wednesday, May 15th.

Lifeway Foods Stock Performance

Shares of LWAY stock traded up $0.39 during trading hours on Friday, hitting $19.18. 109,577 shares of the company were exchanged, compared to its average volume of 147,620. Lifeway Foods has a 52-week low of $9.06 and a 52-week high of $28.61. The company has a current ratio of 2.53, a quick ratio of 1.98 and a debt-to-equity ratio of 0.02. The firm has a fifty day simple moving average of $13.93 and a 200 day simple moving average of $15.56. The stock has a market capitalization of $282.08 million, a price-to-earnings ratio of 22.30 and a beta of 1.01.

Lifeway Foods (NASDAQ:LWAY - Get Free Report) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $0.25 EPS for the quarter, beating analysts' consensus estimates of $0.17 by $0.08. Lifeway Foods had a return on equity of 22.34% and a net margin of 7.77%. The firm had revenue of $49.16 million for the quarter, compared to analysts' expectations of $46.50 million. During the same quarter in the prior year, the firm earned $0.21 EPS. Research analysts predict that Lifeway Foods will post 0.8 earnings per share for the current fiscal year.

Insider Buying and Selling at Lifeway Foods

In other news, major shareholder Ludmila Smolyansky sold 14,620 shares of the company's stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $12.30, for a total value of $179,826.00. Following the transaction, the insider now owns 1,125,133 shares of the company's stock, valued at $13,839,135.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Lifeway Foods news, VP Amy M. Feldman sold 12,948 shares of Lifeway Foods stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $18.57, for a total transaction of $240,444.36. Following the completion of the sale, the vice president now directly owns 18,104 shares in the company, valued at $336,191.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Ludmila Smolyansky sold 14,620 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $12.30, for a total transaction of $179,826.00. Following the completion of the transaction, the insider now directly owns 1,125,133 shares in the company, valued at approximately $13,839,135.90. The disclosure for this sale can be found here. Insiders sold a total of 33,114 shares of company stock valued at $525,145 in the last three months. Company insiders own 31.77% of the company's stock.

Institutional Trading of Lifeway Foods

Hedge funds have recently made changes to their positions in the stock. Marshall Wace LLP boosted its stake in shares of Lifeway Foods by 48.5% in the 2nd quarter. Marshall Wace LLP now owns 100,217 shares of the company's stock valued at $1,280,000 after purchasing an additional 32,742 shares in the last quarter. Bank of Montreal Can bought a new stake in Lifeway Foods in the second quarter worth $432,000. Renaissance Technologies LLC lifted its stake in Lifeway Foods by 7.1% in the second quarter. Renaissance Technologies LLC now owns 454,682 shares of the company's stock worth $5,806,000 after purchasing an additional 30,000 shares during the last quarter. Cornercap Investment Counsel Inc. purchased a new stake in Lifeway Foods during the second quarter valued at about $539,000. Finally, American Century Companies Inc. bought a new position in shares of Lifeway Foods during the second quarter valued at about $593,000. 36.39% of the stock is owned by institutional investors.

About Lifeway Foods

Lifeway Foods, Inc produces and markets probiotic-based products in the United States and internationally. Its primary product is drinkable kefir, a cultured dairy product in various organic and non-organic sizes, flavors, and types. The company offers European-style soft cheeses; cream and other products; ProBugs, a line of kefir products designed for children; drinkable yogurt; and fresh made butter and sour cream.