Landec Co. (LNDC) Given Average Recommendation of “Buy” by Analysts

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Landec Co. (NASDAQ:LNDC) has been assigned an average recommendation of “Buy” from the seven brokerages that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $18.00.

LNDC has been the topic of several research reports. BidaskClub raised shares of Landec from a “hold” rating to a “buy” rating in a research note on Wednesday, June 27th. ValuEngine raised shares of Landec from a “hold” rating to a “buy” rating in a research note on Thursday, July 5th. Maxim Group reissued a “buy” rating and set a $18.00 price objective on shares of Landec in a research note on Wednesday, August 1st. Finally, TheStreet lowered shares of Landec from a “b-” rating to a “c+” rating in a research note on Friday, September 7th.

NASDAQ:LNDC traded down $0.05 during mid-day trading on Friday, hitting $12.95. 98,442 shares of the company’s stock were exchanged, compared to its average volume of 62,173. Landec has a one year low of $11.42 and a one year high of $15.60. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.10 and a quick ratio of 0.74. The firm has a market capitalization of $399.59 million, a P/E ratio of 31.59 and a beta of 0.58.

Landec (NASDAQ:LNDC) last posted its quarterly earnings data on Tuesday, October 2nd. The basic materials company reported $0.01 EPS for the quarter. Landec had a net margin of 4.51% and a return on equity of 4.85%. The business had revenue of $124.70 million for the quarter, compared to analyst estimates of $123.94 million. During the same quarter in the previous year, the firm posted $0.08 earnings per share. Landec’s quarterly revenue was up 7.7% on a year-over-year basis. On average, equities research analysts expect that Landec will post 0.43 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of the business. California Public Employees Retirement System raised its holdings in Landec by 20.7% in the second quarter. California Public Employees Retirement System now owns 93,557 shares of the basic materials company’s stock worth $1,394,000 after buying an additional 16,037 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Landec in the second quarter worth about $295,000. Acuitas Investments LLC raised its holdings in Landec by 226.8% in the second quarter. Acuitas Investments LLC now owns 104,196 shares of the basic materials company’s stock worth $1,553,000 after buying an additional 72,315 shares during the last quarter. BlackRock Inc. raised its holdings in Landec by 5.0% in the second quarter. BlackRock Inc. now owns 1,950,345 shares of the basic materials company’s stock worth $29,061,000 after buying an additional 92,444 shares during the last quarter. Finally, Chartwell Investment Partners LLC raised its holdings in Landec by 4.0% in the second quarter. Chartwell Investment Partners LLC now owns 106,389 shares of the basic materials company’s stock worth $1,585,000 after buying an additional 4,066 shares during the last quarter. 90.35% of the stock is owned by institutional investors and hedge funds.

Landec Company Profile

Landec Corporation, together with its subsidiaries, designs, develops, manufactures, and sells differentiated health and wellness products for food and biomaterials markets. It 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 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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