Landec (NASDAQ:LNDC) Announces Quarterly Earnings Results

Landec (NASDAQ:LNDC) announced its earnings results on Tuesday. The basic materials company reported ($0.23) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.12), Fidelity Earnings reports. Landec had a negative return on equity of 1.53% and a negative net margin of 6.00%. During the same period last year, the company earned ($0.11) EPS.

NASDAQ:LNDC traded down $1.07 during trading hours on Thursday, hitting $9.21. The company had a trading volume of 4,312 shares, compared to its average volume of 128,367. The company has a current ratio of 1.46, a quick ratio of 0.77 and a debt-to-equity ratio of 0.81. The company has a 50-day moving average of $10.74 and a 200 day moving average of $11.20. The company has a market cap of $271.35 million, a P/E ratio of -8.11 and a beta of 1.05. Landec has a 1 year low of $9.19 and a 1 year high of $12.88.

An institutional investor recently raised its position in Landec stock. Morgan Stanley lifted its holdings in shares of Landec Co. (NASDAQ:LNDC) by 134.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 35,114 shares of the basic materials company’s stock after purchasing an additional 20,117 shares during the quarter. Morgan Stanley owned about 0.12% of Landec worth $394,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 87.59% of the company’s stock.

Several research analysts have recently weighed in on LNDC shares. TheStreet raised Landec from a “d+” rating to a “c” rating in a research note on Wednesday, July 28th. Zacks Investment Research downgraded Landec from a “hold” rating to a “sell” rating in a research note on Wednesday. Barrington Research reduced their price objective on Landec from $14.00 to $12.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, Roth Capital increased their price objective on Landec from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, July 30th. One investment analyst has rated the stock with a sell rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Landec currently has an average rating of “Buy” and a consensus price target of $12.75.

Landec Company Profile

Landec Corp. engages in the design, development, manufacture, and sale of health and wellness products for food and biomaterials markets. It operates through the following segments: Curation Foods, Lifecore, and Others. The Curation Foods segment includes activities to market and pack specialty packaged whole and fresh-cut fruit and vegetables.

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Earnings History for Landec (NASDAQ:LNDC)

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