Landec (LNDC) Given “Buy” Rating at Maxim Group
Maxim Group restated their buy rating on shares of Landec (NASDAQ:LNDC) in a research report sent to investors on Wednesday. Maxim Group currently has a $18.00 target price on the basic materials company’s stock.
“LNDC reiterated its F2Q18 (Nov) revenue guidance of $135-$140M, but lowered GAAP EPS guidance to $0.01-$0.03, from $0.06-$0.08, due to the larger-than- expected impact of late-summer and early-fall hurricanes and tropical storms. Nonetheless, the company reiterated its FY18 (May) guidance with revenue growth of 2%-4% and GAAP EPS of $0.52-$0.58, as it anticipates a strong second half of FY18 for its higher-margin businesses.”,” Maxim Group’s analyst commented.
Other analysts have also issued research reports about the stock. BidaskClub upgraded shares of Landec from a sell rating to a hold rating in a research report on Monday, August 14th. Wedbush restated a hold rating and set a $13.00 price target on shares of Landec in a research report on Thursday, September 28th. Finally, Zacks Investment Research upgraded shares of Landec from a sell rating to a hold rating and set a $15.00 price target on the stock in a research report on Wednesday, September 27th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $15.33.
Landec (NASDAQ:LNDC) last issued its earnings results on Tuesday, September 26th. The basic materials company reported $0.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.02. Landec had a net margin of 1.80% and a return on equity of 4.17%. The firm had revenue of $123.40 million during the quarter, compared to analysts’ expectations of $123.00 million. During the same quarter last year, the company posted $0.12 earnings per share. The firm’s revenue was down 6.8% compared to the same quarter last year. analysts forecast that Landec will post 0.54 EPS for the current year.
In related news, CEO Molly Hemmeter sold 7,399 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 53,017 shares in the company, valued at $692,402.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 4.62% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd acquired a new stake in Landec during the third quarter valued at $141,000. Citigroup Inc. grew its position in Landec by 489.6% during the second quarter. Citigroup Inc. now owns 9,840 shares of the basic materials company’s stock valued at $146,000 after buying an additional 8,171 shares during the period. Acrospire Investment Management LLC grew its position in shares of Landec by 185.8% in the second quarter. Acrospire Investment Management LLC now owns 10,722 shares of the basic materials company’s stock valued at $159,000 after purchasing an additional 6,971 shares during the period. Eagle Global Advisors LLC acquired a new stake in shares of Landec in the second quarter valued at about $161,000. Finally, Zacks Investment Management acquired a new stake in shares of Landec in the second quarter valued at about $167,000. Institutional investors own 93.83% of the company’s stock.
Landec 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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