Landec Corp. (NASDAQ:LNDC) Receives $14.40 Consensus PT from Brokerages
Shares of Landec Corp. (NASDAQ:LNDC) have received a consensus recommendation of “Buy” from the seven ratings firms that are covering the company. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $14.40.
Several research firms have recently issued reports on LNDC. Zacks Investment Research cut shares of Landec Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, July 28th. Wedbush began coverage on shares of Landec Corp. in a research report on Thursday, July 7th. They set a “neutral” rating and a $12.00 price objective for the company.
In related news, COO Ronald Lane Midyett sold 7,000 shares of the business’s 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 completion of the sale, the chief operating officer now directly owns 111,169 shares of the company’s stock, valued at $1,336,251.38. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Gary T. Steele sold 34,484 shares of the business’s 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 disclosure for this sale can be found here. 4.89% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in LNDC. Vanguard Group Inc. boosted its stake in shares of Landec Corp. by 6.2% in the second quarter. Vanguard Group Inc. now owns 1,170,835 shares of the company’s stock worth $12,598,000 after buying an additional 68,400 shares during the period. 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. 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. Royce & Associates LP boosted its stake in shares of Landec Corp. by 3.5% in the second quarter. Royce & Associates LP now owns 1,060,801 shares of the company’s stock worth $11,414,000 after buying an additional 36,200 shares during the period. Finally, Chartwell Investment Partners LLC bought a new stake in shares of Landec Corp. during the second quarter worth $2,997,000. 94.83% of the stock is owned by hedge funds and other institutional investors.
Shares of Landec Corp. (NASDAQ:LNDC) opened at 13.43 on Wednesday. The firm’s 50-day moving average price is $12.85 and its 200 day moving average price is $11.59. The firm’s market capitalization is $365.85 million. Landec Corp. has a 12 month low of $9.48 and a 12 month high of $13.56.
Landec Corp. (NASDAQ:LNDC) last issued its quarterly earnings results on Tuesday, September 27th. The company reported $0.12 EPS for the quarter, beating the Thomson Reuters’ 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 earned $132.40 million during the quarter. During the same period in the prior year, the business earned $0.11 EPS. The business’s quarterly revenue was down 2.2% on a year-over-year basis. Analysts anticipate that Landec Corp. will post $0.58 earnings per share for the current fiscal year.
Landec Corp. Company Profile
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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