Landec Corporation (NASDAQ:LNDC)‘s stock had its “hold” rating restated by Wedbush in a note issued to investors on Thursday. They presently have a $13.00 price objective on the basic materials company’s stock. Wedbush’s price objective would suggest a potential downside of 2.26% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. BidaskClub raised shares of Landec Corporation from a “sell” rating to a “hold” rating in a report on Monday, August 14th. Zacks Investment Research raised shares of Landec Corporation from a “sell” rating to a “hold” rating in a report on Wednesday. Maxim Group reaffirmed a “buy” rating and issued a $18.00 price target on shares of Landec Corporation in a report on Tuesday. Finally, TheStreet cut shares of Landec Corporation from a “b” rating to a “c+” rating in a report on Monday, July 31st. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $15.67.

Shares of Landec Corporation (NASDAQ:LNDC) opened at 13.30 on Thursday. Landec Corporation has a 1-year low of $11.20 and a 1-year high of $15.50. The company has a market cap of $365.83 million, a price-to-earnings ratio of 35.00 and a beta of 1.34. The firm has a 50-day moving average price of $12.84 and a 200 day moving average price of $13.41.

Landec Corporation (NASDAQ:LNDC) last posted its earnings results on Tuesday, September 26th. The basic materials company reported $0.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.02. Landec Corporation had a net margin of 1.80% and a return on equity of 4.21%. The firm had revenue of $123.40 million for the quarter, compared to analysts’ expectations of $123.00 million. During the same quarter last year, the firm earned $0.12 EPS. The company’s quarterly revenue was down 6.8% compared to the same quarter last year. On average, analysts predict that Landec Corporation will post $0.55 EPS for the current fiscal year.

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A number of hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company raised its holdings in Landec Corporation by 0.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,688 shares of the basic materials company’s stock valued at $336,000 after acquiring an additional 110 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in Landec Corporation by 0.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 106,809 shares of the basic materials company’s stock valued at $1,587,000 after acquiring an additional 589 shares during the period. TIAA CREF Investment Management LLC raised its holdings in Landec Corporation by 1.0% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 75,251 shares of the basic materials company’s stock valued at $1,117,000 after acquiring an additional 745 shares during the period. Crestwood Advisors Group LLC raised its holdings in Landec Corporation by 6.1% during the 2nd quarter. Crestwood Advisors Group LLC now owns 15,588 shares of the basic materials company’s stock valued at $203,000 after acquiring an additional 900 shares during the period. Finally, American International Group Inc. raised its holdings in Landec Corporation by 7.2% during the 1st quarter. American International Group Inc. now owns 16,486 shares of the basic materials company’s stock valued at $198,000 after acquiring an additional 1,102 shares during the period. 92.07% of the stock is currently owned by institutional investors and hedge funds.

About Landec Corporation

Landec Corporation designs, develops, manufactures and sells a range of health and wellness products for food and biomaterials markets. The Company licenses technology applications to partners. The Company operates through three segments: Packaged Fresh Vegetables, Food Export and Biomaterials. The Packaged Fresh Vegetables segment markets and packs specialty packaged whole and fresh-cut fruit and vegetables, the majority of which incorporate the BreatheWay specialty packaging for the retail grocery, club store and food services industry.

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