Landec Corporation (LNDC) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Landec Corporation (NASDAQ:LNDC) have earned an average rating of “Hold” from the six brokerages that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $15.33.

A number of equities analysts recently weighed in on the stock. Wedbush reissued a “hold” rating on shares of Landec Corporation in a research note on Wednesday, July 26th. Zacks Investment Research downgraded shares of Landec Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. BidaskClub raised shares of Landec Corporation from a “sell” rating to a “hold” rating in a research note on Monday, August 14th. TheStreet downgraded shares of Landec Corporation from a “b” rating to a “c+” rating in a research note on Monday, July 31st. Finally, Maxim Group reissued a “buy” rating and set a $18.00 target price on shares of Landec Corporation in a research note on Tuesday, September 26th.

Shares of Landec Corporation (LNDC) opened at 13.00 on Friday. The company has a market cap of $357.58 million, a PE ratio of 34.21 and a beta of 1.29. Landec Corporation has a 52-week low of $11.20 and a 52-week high of $15.50. The company has a 50 day moving average of $12.79 and a 200-day moving average of $13.50.

Landec Corporation (NASDAQ:LNDC) last announced its earnings results on Tuesday, September 26th. The basic materials company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. Landec Corporation had a net margin of 1.80% and a return on equity of 4.17%. The business had revenue of $123.40 million during the quarter, compared to the consensus estimate of $123.00 million. During the same quarter last year, the firm earned $0.12 earnings per share. Landec Corporation’s quarterly revenue was down 6.8% on a year-over-year basis. Analysts forecast that Landec Corporation will post $0.55 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. increased its stake in Landec Corporation by 17.2% in the second quarter. Russell Investments Group Ltd. now owns 182,840 shares of the basic materials company’s stock valued at $2,715,000 after purchasing an additional 26,794 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in Landec Corporation by 5.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 106,220 shares of the basic materials company’s stock valued at $1,275,000 after purchasing an additional 5,301 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Landec Corporation by 21.9% in the second quarter. Bank of New York Mellon Corp now owns 209,579 shares of the basic materials company’s stock valued at $3,113,000 after purchasing an additional 37,603 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Landec Corporation by 5.1% in the first quarter. Goldman Sachs Group Inc. now owns 48,065 shares of the basic materials company’s stock valued at $577,000 after purchasing an additional 2,311 shares in the last quarter. Finally, Foundry Partners LLC increased its stake in Landec Corporation by 0.8% in the second quarter. Foundry Partners LLC now owns 412,990 shares of the basic materials company’s stock valued at $6,133,000 after purchasing an additional 3,275 shares in the last quarter. 92.18% of the stock is owned by hedge funds and other institutional investors.

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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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