Landec Corporation (LNDC) Receives $15.50 Average Target Price from Brokerages

Landec Corporation (NASDAQ:LNDC) has been assigned an average recommendation of “Hold” from the six research firms that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $15.50.

LNDC has been the topic of a number of research reports. BidaskClub upgraded Landec Corporation from a “sell” rating to a “hold” rating in a research note on Monday, August 14th. Wedbush restated a “hold” rating and issued a $13.00 price target on shares of Landec Corporation in a research note on Thursday, September 28th. Zacks Investment Research upgraded Landec Corporation from a “sell” rating to a “hold” rating and set a $15.00 price target on the stock in a research note on Wednesday, September 27th. TheStreet downgraded Landec Corporation from a “b” rating to a “c+” rating in a research note on Monday, July 31st. Finally, Maxim Group restated a “buy” rating and issued a $18.00 price target on shares of Landec Corporation in a research note on Tuesday, September 26th.

In related news, CEO Molly Hemmeter sold 7,399 shares of the firm’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $13.06, for a total value of $96,630.94. Following the transaction, the chief executive officer now directly owns 53,017 shares of the company’s stock, valued at approximately $692,402.02. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.62% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd bought a new stake in Landec Corporation during the third quarter valued at about $141,000. Citigroup Inc. raised its holdings in Landec Corporation 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 acquiring an additional 8,171 shares during the period. Acrospire Investment Management LLC raised its holdings in Landec Corporation by 185.8% during the second quarter. Acrospire Investment Management LLC now owns 10,722 shares of the basic materials company’s stock valued at $159,000 after acquiring an additional 6,971 shares during the period. Eagle Global Advisors LLC bought a new stake in Landec Corporation during the second quarter valued at about $161,000. Finally, Trexquant Investment LP bought a new stake in Landec Corporation during the second quarter valued at about $167,000. 92.05% of the stock is currently owned by institutional investors.

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Shares of Landec Corporation (NASDAQ:LNDC) traded down $0.10 on Wednesday, reaching $12.80. The company’s stock had a trading volume of 61,795 shares, compared to its average volume of 45,201. The company has a current ratio of 1.53, a quick ratio of 1.04 and a debt-to-equity ratio of 0.19. Landec Corporation has a 1-year low of $11.20 and a 1-year high of $15.50. The stock has a market cap of $352.09, a P/E ratio of 35.71 and a beta of 1.27.

Landec Corporation (NASDAQ:LNDC) last issued its earnings results on Tuesday, September 26th. The basic materials company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.06 by $0.02. Landec Corporation had a return on equity of 4.17% and a net margin of 1.80%. The business had revenue of $123.40 million for the quarter, compared to the consensus estimate of $123.00 million. During the same period last year, the business posted $0.12 EPS. The company’s revenue was down 6.8% compared to the same quarter last year. equities analysts expect that Landec Corporation will post 0.55 earnings per share for the current fiscal year.

About Landec Corporation

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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