Landec Co. (LNDC) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Landec Co. (NASDAQ:LNDC) have received an average rating of “Buy” from the seven ratings firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $18.00.

A number of research firms have issued reports on LNDC. BidaskClub upgraded Landec from a “buy” rating to a “strong-buy” rating in a report on Thursday. Zacks Investment Research downgraded Landec from a “hold” rating to a “sell” rating in a report on Wednesday. ValuEngine upgraded Landec from a “hold” rating to a “buy” rating in a report on Wednesday, September 26th. Roth Capital began coverage on Landec in a report on Tuesday, September 25th. They issued a “buy” rating and a $18.00 price objective for the company. Finally, TheStreet downgraded Landec from a “b-” rating to a “c+” rating in a report on Friday, September 7th.

Institutional investors and hedge funds have recently bought and sold shares of the business. Citadel Advisors LLC bought a new position in Landec in the third quarter worth $205,000. Renaissance Technologies LLC bought a new position in shares of Landec during the second quarter valued at $295,000. MetLife Investment Advisors LLC increased its holdings in shares of Landec by 55.0% during the third quarter. MetLife Investment Advisors LLC now owns 21,719 shares of the basic materials company’s stock valued at $313,000 after acquiring an additional 7,709 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of Landec by 30.9% during the second quarter. Bessemer Group Inc. now owns 22,900 shares of the basic materials company’s stock valued at $341,000 after acquiring an additional 5,400 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of Landec by 18.1% during the second quarter. First Trust Advisors LP now owns 31,236 shares of the basic materials company’s stock valued at $465,000 after acquiring an additional 4,789 shares in the last quarter. Institutional investors and hedge funds own 93.14% of the company’s stock.

Shares of LNDC stock opened at $14.87 on Friday. The company has a quick ratio of 0.67, a current ratio of 1.02 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $402.36 million, a P/E ratio of 36.27 and a beta of 0.65. Landec has a 52 week low of $11.60 and a 52 week high of $15.60.

Landec (NASDAQ:LNDC) last posted its quarterly earnings data on Tuesday, October 2nd. The basic materials company reported $0.01 earnings per share (EPS) for the quarter. The business had revenue of $124.70 million during the quarter, compared to the consensus estimate of $123.94 million. Landec had a return on equity of 3.95% and a net margin of 4.15%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.08 earnings per share. Sell-side analysts anticipate that Landec will post 0.42 EPS for the current fiscal year.

About Landec

Landec Corporation, together with its subsidiaries, designs, develops, manufactures, and sells differentiated health and wellness products for food and biomaterials markets. It operates through two segments, Packaged Fresh Vegetables and Biomaterials. The Packaged Fresh Vegetables segment markets and packs specialty packaged whole and fresh-cut fruits and vegetables utilizing the BreatheWay specialty packaging technology for the retail grocery, club store, and food service industries under the Eat Smart and GreenLine brands, as well as private label brands; and sells BreatheWay packaging technology to partners for fruit and vegetable products.

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