Lifeway Foods (NASDAQ:LWAY) Downgraded by Noble Financial to Market Perform

Noble Financial lowered shares of Lifeway Foods (NASDAQ:LWAY) from an outperform rating to a market perform rating in a research note issued to investors on Tuesday, MarketBeat reports.

Separately, StockNews.com lowered shares of Lifeway Foods from a buy rating to a hold rating in a research note on Sunday, September 8th.

Lifeway Foods Trading Down 1.1 %

LWAY opened at $25.97 on Tuesday. Lifeway Foods has a 1-year low of $9.06 and a 1-year high of $28.61. The company has a market cap of $381.94 million, a price-to-earnings ratio of 30.20 and a beta of 1.02. The company’s fifty day moving average price is $17.56 and its two-hundred day moving average price is $16.90.

Lifeway Foods (NASDAQ:LWAY) last released its quarterly earnings results on Tuesday, August 13th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.08. The business had revenue of $49.16 million during the quarter, compared to the consensus estimate of $46.50 million. Lifeway Foods had a return on equity of 21.92% and a net margin of 7.69%. During the same quarter in the previous year, the business earned $0.21 EPS. As a group, equities analysts forecast that Lifeway Foods will post 0.99 earnings per share for the current fiscal year.

Insider Transactions at Lifeway Foods

In related news, VP Amy M. Feldman sold 12,948 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $18.57, for a total value of $240,444.36. Following the transaction, the vice president now owns 18,104 shares in the company, valued at $336,191.28. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Eric A. Hanson sold 5,546 shares of Lifeway Foods stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $18.91, for a total value of $104,874.86. Following the completion of the transaction, the chief financial officer now directly owns 25,546 shares in the company, valued at approximately $483,074.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Amy M. Feldman sold 12,948 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $18.57, for a total value of $240,444.36. Following the sale, the vice president now owns 18,104 shares in the company, valued at approximately $336,191.28. The disclosure for this sale can be found here. Insiders sold a total of 52,698 shares of company stock worth $887,612 in the last quarter. Insiders own 31.77% of the company’s stock.

Institutional Trading of Lifeway Foods

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers boosted its stake in Lifeway Foods by 2,334.0% in the 2nd quarter. Rhumbline Advisers now owns 4,868 shares of the company’s stock worth $62,000 after purchasing an additional 4,668 shares during the period. Quest Partners LLC purchased a new position in Lifeway Foods during the second quarter valued at approximately $82,000. Bailard Inc. bought a new stake in Lifeway Foods during the 2nd quarter worth approximately $253,000. Panagora Asset Management Inc. purchased a new stake in Lifeway Foods in the 2nd quarter worth approximately $267,000. Finally, Bank of Montreal Can bought a new position in Lifeway Foods in the 2nd quarter valued at $432,000. 36.39% of the stock is currently 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.