NEW YORK ( TheStreet) -- Lancaster Colony Corporation (Nasdaq: LANC) hit a new 52-week high Thursday as it is currently trading at $70.66, above its previous 52-week high of $70.60 with 45,393 shares traded as of 11:53 a.m. ET. Average volume has been 118,400 shares over the past 30 days.

Lancaster Colony has a market cap of $1.84 billion and is part of the consumer goods sector and food & beverage industry. Shares are up 23.1% year to date as of the close of trading on Wednesday.

Lancaster Colony Corporation engages in the manufacture and marketing of consumer products focusing primarily on specialty foods for the retail and foodservice markets in the United States. The company operates in two segments, Specialty Foods, and Glassware and Candles. The company has a P/E ratio of 17.7, equal to the average food & beverage industry P/E ratio and equal to the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Lancaster Colony as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, good cash flow from operations and reasonable valuation levels. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Lancaster Colony Ratings Report.

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