Landec Corporation (LNDC) Given Average Recommendation of “Hold” by Brokerages
Landec Corporation (NASDAQ:LNDC) has been assigned a consensus rating of “Hold” from the six brokerages that are covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $15.50.
LNDC has been the subject of a number of recent research reports. BidaskClub upgraded shares of Landec Corporation from a “sell” rating to a “hold” rating in a report on Monday, August 14th. Zacks Investment Research downgraded shares of Landec Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 18th. Wedbush reiterated a “hold” rating and issued a $13.00 price objective on shares of Landec Corporation in a report on Thursday, September 28th. TheStreet downgraded shares of Landec Corporation from a “b” rating to a “c+” rating in a report on Monday, July 31st. Finally, Maxim Group restated a “buy” rating and set a $18.00 price target on shares of Landec Corporation in a report on Tuesday, September 26th.
In other news, CEO Molly Hemmeter sold 7,399 shares of the firm’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $13.06, for a total transaction of $96,630.94. Following the completion of the sale, the chief executive officer now owns 53,017 shares in the company, valued at approximately $692,402.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.62% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in LNDC. Walthausen & Co. LLC acquired a new stake in shares of Landec Corporation during the 2nd quarter worth approximately $2,896,000. Royce & Associates LP boosted its position in shares of Landec Corporation by 17.0% during the 2nd quarter. Royce & Associates LP now owns 1,214,136 shares of the basic materials company’s stock worth $18,030,000 after purchasing an additional 176,629 shares during the period. Algert Global LLC purchased a new position in shares of Landec Corporation during the 2nd quarter worth approximately $2,012,000. Bank of New York Mellon Corp boosted its position in shares of Landec Corporation by 53.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 320,875 shares of the basic materials company’s stock worth $4,156,000 after purchasing an additional 111,296 shares during the period. Finally, NWQ Investment Management Company LLC boosted its position in shares of Landec Corporation by 1.4% during the 3rd quarter. NWQ Investment Management Company LLC now owns 3,779,223 shares of the basic materials company’s stock worth $48,941,000 after purchasing an additional 53,050 shares during the period. Institutional investors and hedge funds own 92.05% of the company’s stock.
Shares of Landec Corporation (LNDC) opened at $12.50 on Wednesday. The company has a market cap of $343.83, a PE ratio of 35.00 and a beta of 1.27. The company has a quick ratio of 1.04, a current ratio of 1.53 and a debt-to-equity ratio of 0.19. Landec Corporation has a 1-year low of $11.20 and a 1-year high of $15.50.
Landec Corporation (NASDAQ:LNDC) last released its quarterly earnings data on Tuesday, September 26th. The basic materials company reported $0.08 EPS for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.02. The company had revenue of $123.40 million during the quarter, compared to the consensus estimate of $123.00 million. Landec Corporation had a net margin of 1.80% and a return on equity of 4.17%. Landec Corporation’s quarterly revenue was down 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.12 EPS. equities research analysts expect that Landec Corporation will post 0.55 earnings per share for the current year.
Landec Corporation Company Profile
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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