Analysts Offer Predictions for Landec Corp.’s FY2017 Earnings (LNDC)
Landec Corp. (NASDAQ:LNDC) – Equities research analysts at Lake Street Capital upped their FY2017 earnings per share estimates for Landec Corp. in a research report issued to clients and investors on Wednesday. Lake Street Capital analyst C. Krueger now expects that the brokerage will post earnings of $0.59 per share for the year, up from their prior estimate of $0.57.
Landec Corp. (NASDAQ:LNDC) last posted its earnings results on Tuesday, September 27th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. The company had revenue of $132.40 million for the quarter. Landec Corp. had a positive return on equity of 4.75% and a negative net margin of 2.10%. Landec Corp.’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.11 earnings per share.
Several other equities analysts also recently commented on LNDC. Maxim Group initiated coverage on shares of Landec Corp. in a research note on Tuesday, June 7th. They issued a “buy” rating and a $16.00 price target for the company. Zacks Investment Research upgraded shares of Landec Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, June 7th. Finally, Wedbush initiated coverage on shares of Landec Corp. in a research note on Thursday, July 7th. They issued a “neutral” rating and a $12.00 price target for the company. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $14.32.
Landec Corp. (NASDAQ:LNDC) traded down 0.15% during midday trading on Friday, hitting $13.41. The company had a trading volume of 117,918 shares. The company has a 50 day moving average price of $12.71 and a 200 day moving average price of $11.48. Landec Corp. has a 1-year low of $9.48 and a 1-year high of $13.56. The firm’s market capitalization is $369.04 million.
Large investors have recently made changes to their positions in the stock. First Interstate Bank boosted its stake in shares of Landec Corp. by 21.3% in the second quarter. First Interstate Bank now owns 12,590 shares of the company’s stock worth $135,000 after buying an additional 2,210 shares during the period. Nomura Holdings Inc. bought a new stake in shares of Landec Corp. during the second quarter worth $161,000. Highbridge Capital Management LLC bought a new stake in shares of Landec Corp. during the second quarter worth $197,000. Prudential Financial Inc. boosted its stake in shares of Landec Corp. by 8.8% in the second quarter. Prudential Financial Inc. now owns 27,094 shares of the company’s stock worth $292,000 after buying an additional 2,200 shares during the period. Finally, Teachers Advisors Inc. boosted its stake in shares of Landec Corp. by 7.3% in the second quarter. Teachers Advisors Inc. now owns 45,646 shares of the company’s stock worth $491,000 after buying an additional 3,111 shares during the period. 94.83% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Gary T. Steele sold 34,484 shares of Landec Corp. stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $12.47, for a total transaction of $430,015.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Ronald Lane Midyett sold 7,000 shares of Landec Corp. stock in a transaction on Friday, August 5th. The stock was sold at an average price of $12.02, for a total transaction of $84,140.00. Following the sale, the chief operating officer now directly owns 111,169 shares of the company’s stock, valued at $1,336,251.38. The disclosure for this sale can be found here. Insiders own 4.89% of the company’s stock.
About Landec Corp.
Landec Corporation designs, develops, manufactures and sells differentiated products for food and biomaterials markets and licenses technology applications to partners. The Company’s segments include Food Products Technology, Food Export and Hyaluronan-based Biomaterials. The Company’s Food Products Technology segment markets and packs specialty packaged whole and fresh-cut fruit and vegetables.
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