Shares of Landec Co. (NASDAQ:LNDC) have earned a consensus recommendation of “Buy” from the seven research firms that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $18.00.
Several analysts recently issued reports on the stock. BidaskClub upgraded shares of Landec from a “hold” rating to a “buy” rating in a research report on Wednesday, June 27th. ValuEngine upgraded shares of Landec from a “hold” rating to a “buy” rating in a research report on Thursday, July 5th. Maxim Group restated a “buy” rating and set a $18.00 target price on shares of Landec in a research report on Wednesday, August 1st. Finally, TheStreet lowered shares of Landec from a “b-” rating to a “c+” rating in a research report on Friday, September 7th.
Shares of LNDC traded down $0.05 during mid-day trading on Friday, hitting $12.95. 98,442 shares of the company traded hands, compared to its average volume of 62,173. The company has a quick ratio of 0.74, a current ratio of 1.10 and a debt-to-equity ratio of 0.16. Landec has a 1 year low of $11.42 and a 1 year high of $15.60. The stock has a market capitalization of $399.59 million, a price-to-earnings ratio of 31.59 and a beta of 0.58.
Landec (NASDAQ:LNDC) last released its quarterly earnings data on Tuesday, October 2nd. The basic materials company reported $0.01 earnings per share for the quarter. The firm had revenue of $124.70 million during the quarter, compared to analysts’ expectations of $123.94 million. Landec had a net margin of 4.51% and a return on equity of 4.85%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.08 earnings per share. As a group, analysts expect that Landec will post 0.43 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its position in Landec by 5.0% during the second quarter. BlackRock Inc. now owns 1,950,345 shares of the basic materials company’s stock valued at $29,061,000 after buying an additional 92,444 shares during the period. Royce & Associates LP boosted its position in shares of Landec by 3.3% in the second quarter. Royce & Associates LP now owns 1,274,408 shares of the basic materials company’s stock worth $18,989,000 after purchasing an additional 40,217 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Landec by 109.8% in the first quarter. Russell Investments Group Ltd. now owns 802,770 shares of the basic materials company’s stock worth $10,477,000 after purchasing an additional 420,108 shares during the period. Investment Counselors of Maryland LLC boosted its position in shares of Landec by 57.8% in the second quarter. Investment Counselors of Maryland LLC now owns 594,578 shares of the basic materials company’s stock worth $8,859,000 after purchasing an additional 217,824 shares during the period. Finally, Foundry Partners LLC boosted its position in shares of Landec by 0.9% in the first quarter. Foundry Partners LLC now owns 425,240 shares of the basic materials company’s stock worth $5,549,000 after purchasing an additional 3,875 shares during the period. Institutional investors own 90.35% of the company’s stock.
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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