Landec (NASDAQ:LNDC) Price Target Raised to $11.00 at Lake Street Capital
Landec (NASDAQ:LNDC) had its price objective upped by equities research analysts at Lake Street Capital from $10.00 to $11.00 in a research note issued on Tuesday, The Fly reports. The firm currently has a “buy” rating on the basic materials company’s stock. Lake Street Capital’s price target indicates a potential upside of 35.97% from the stock’s current price.
A number of other equities analysts also recently commented on the company. BidaskClub downgraded Landec from a “hold” rating to a “sell” rating in a report on Friday, June 5th. Barrington Research lowered Landec from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Maxim Group restated a “buy” rating and set a $15.00 price objective on shares of Landec in a research note on Thursday, April 2nd. Zacks Investment Research lowered Landec from a “buy” rating to a “hold” rating in a research note on Wednesday, June 24th. Finally, Roth Capital upgraded Landec from a “neutral” rating to a “buy” rating and raised their price objective for the company from $11.00 to $15.00 in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. Landec has a consensus rating of “Hold” and an average price target of $12.60.
Shares of LNDC traded down $1.71 during trading hours on Tuesday, reaching $8.09. 2,901 shares of the company traded hands, compared to its average volume of 144,068. The stock has a fifty day simple moving average of $10.41 and a 200 day simple moving average of $10.52. Landec has a fifty-two week low of $7.53 and a fifty-two week high of $12.46. The stock has a market capitalization of $280.73 million, a PE ratio of -10.24, a price-to-earnings-growth ratio of 2.47 and a beta of 0.98. The company has a quick ratio of 0.52, a current ratio of 0.94 and a debt-to-equity ratio of 0.53.
In other Landec news, Director Nelson Obus bought 5,000 shares of the business’s stock in a transaction on Monday, May 11th. The shares were purchased at an average price of $10.80 per share, with a total value of $54,000.00. Following the purchase, the director now directly owns 27,915 shares of the company’s stock, valued at $301,482. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 14.99% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Bank of Montreal Can raised its stake in Landec by 52.4% during the 4th quarter. Bank of Montreal Can now owns 3,263 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 1,122 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Landec by 559.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,174 shares of the basic materials company’s stock worth $36,000 after buying an additional 3,541 shares in the last quarter. Citigroup Inc. raised its stake in shares of Landec by 48.6% in the 1st quarter. Citigroup Inc. now owns 7,842 shares of the basic materials company’s stock worth $68,000 after buying an additional 2,563 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Landec by 26.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 8,011 shares of the basic materials company’s stock worth $70,000 after buying an additional 1,668 shares in the last quarter. Finally, Poplar Forest Capital LLC bought a new stake in shares of Landec in the 1st quarter worth $95,000. 92.77% of the stock is currently owned by hedge funds and other institutional investors.
Landec Corporation, together with its subsidiaries, designs, develops, manufactures, and sells differentiated health and wellness products for food and biomaterials markets. It operates through Curation Foods and Lifecore segments. The Curation Foods segment engages in processing, marketing, and selling of vegetable-based salads, and fresh-cut and whole vegetable products primarily under the Eat Smart brand, O branded olive oils and wine vinegars, and Yucatan and Cabo Fresh guacamole and avocado food products, as well as various private labels.
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