Stock Story -
What Happened: Shares of potato products company Lamb Weston (NYSE:LW) jumped 5.6% in the morning session after the company reported second-quarter results, with revenue and EPS beating Wall Street's estimates. Note that revenue growth numbers this quarter--which might strike you as unusually high--included the consolidation of a joint venture, a transaction that was completed in February 2023. Management added that the business benefitted from inflation-driven pricing actions initiated in the previous year as well as improvements in customer and product mix.
Looking forward, while revenue guidance was maintained from the previous outlook, EPS guidance was raised.
Zooming out, this was a decent quarter, showing that the company is staying on track. After the initial pop the shares cooled down to $108.07, up 3% from previous close.
Is now the time to buy Lamb Weston? Find out by reading the original article on StockStory.
What is the market telling us: Lamb Weston's shares are not very volatile than the market average and over the last year have had only 4 moves greater than 5%. In context of that, today's move is indicating the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business.
At $108.07 per share Lamb Weston is trading close to its 52-week high of $115.12 from July 2023. Investors who bought $1,000 worth of Lamb Weston's shares 5 years ago would now be looking at an investment worth $1,428.
![Why Is Lamb Weston (LW) Stock Soaring Today](https://d68-invdn-com.investing.com/content/pic59b214a64511f6123ef11e2de5dd53cd.jpeg)