Feltl & Co. Equities Analysts Reduce Earnings Estimates for Landec Corp. (LNDC)
Landec Corp. (NASDAQ:LNDC) – Equities researchers at Feltl & Co. cut their Q2 2017 earnings per share (EPS) estimates for Landec Corp. in a report issued on Thursday. Feltl & Co. analyst B. Rystrom now forecasts that the brokerage will post earnings of $0.07 per share for the quarter, down from their prior forecast of $0.08. Feltl & Co. also issued estimates for Landec Corp.’s Q3 2017 earnings at $0.16 EPS, Q2 2018 earnings at $0.14 EPS, Q3 2018 earnings at $0.27 EPS, Q4 2018 earnings at $0.29 EPS and FY2018 earnings at $0.81 EPS.
Several other analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of Landec Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, August 9th. Wedbush began coverage on shares of Landec Corp. in a research note on Thursday, July 7th. They set a “neutral” rating and a $12.00 price target on the stock. Finally, Maxim Group began coverage on shares of Landec Corp. in a research note on Tuesday, June 7th. They set a “buy” rating and a $16.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Landec Corp. presently has an average rating of “Buy” and a consensus price target of $14.32.
Shares of Landec Corp. (NASDAQ:LNDC) opened at 13.26 on Monday. The firm’s market capitalization is $361.22 million. The firm’s 50-day moving average is $12.76 and its 200 day moving average is $11.54. Landec Corp. has a 52 week low of $9.48 and a 52 week high of $13.56.
Landec Corp. (NASDAQ:LNDC) last announced its earnings results on Tuesday, September 27th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.02. Landec Corp. had a negative net margin of 2.10% and a positive return on equity of 4.74%. The company had revenue of $132.40 million for the quarter. During the same period last year, the firm earned $0.11 earnings per share. Landec Corp.’s revenue for the quarter was down 2.2% compared to the same quarter last year.
In other Landec Corp. news, COO Ronald Lane Midyett sold 7,000 shares of the stock in a transaction on Friday, August 5th. The shares were sold at an average price of $12.02, for a total value of $84,140.00. Following the sale, the chief operating officer now directly owns 111,169 shares in the company, valued at $1,336,251.38. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gary T. Steele sold 34,484 shares of the stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $12.47, for a total transaction of $430,015.48. The disclosure for this sale can be found here. 4.89% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of LNDC. First Interstate Bank raised its stake in Landec Corp. by 21.3% in the second quarter. First Interstate Bank now owns 12,590 shares of the company’s stock valued at $135,000 after buying an additional 2,210 shares during the period. Nomura Holdings Inc. purchased a new stake in Landec Corp. during the second quarter valued at $161,000. Highbridge Capital Management LLC purchased a new stake in Landec Corp. during the second quarter valued at $197,000. Prudential Financial Inc. raised its stake in Landec Corp. by 8.8% in the second quarter. Prudential Financial Inc. now owns 27,094 shares of the company’s stock valued at $292,000 after buying an additional 2,200 shares during the period. Finally, Teachers Advisors Inc. raised its stake in Landec Corp. by 7.3% in the second quarter. Teachers Advisors Inc. now owns 45,646 shares of the company’s stock valued at $491,000 after buying an additional 3,111 shares during the period. Institutional investors own 94.83% 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.
Receive News & Stock Ratings for Landec Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Landec Corp. and related stocks with our FREE daily email newsletter.