Landec (LNDC) Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Landec (NASDAQ:LNDC) from a hold rating to a sell rating in a research report report published on Wednesday.

According to Zacks, “Landec Corp. engages in designing, developing, manufacturing and selling of products for food and biomaterials markets and license technology applications. Its operating segment consists of Packaged Fresh Vegetables, Food Export and Biomaterials. Packaged Fresh Vegetables segment includes marketing and packing specialty packaged whole and fresh-cut fruit and vegetables. Food Export segment consists of sale of whole commodity fruit and vegetable product. Biomaterials segment sells products utilizing hyaluronan, a naturally occurring polysaccharide which is distributed in the extracellular matrix of connective tissues in both animals and humans. Landec Corp. is headquartered in Menlo Park, CA. “

A number of other equities research analysts also recently issued reports on the stock. BidaskClub downgraded shares of Landec from a sell rating to a strong sell rating in a research note on Tuesday. Maxim Group reissued a buy rating and issued a $18.00 price target on shares of Landec in a research note on Wednesday, November 29th. Finally, Wedbush reaffirmed a hold rating and set a $13.00 target price on shares of Landec in a research note on Thursday, September 28th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $15.33.

Landec (NASDAQ LNDC) traded down $0.30 during trading hours on Wednesday, reaching $11.65. 44,200 shares of the company’s stock traded hands, compared to its average volume of 70,595. The company has a quick ratio of 1.04, a current ratio of 1.53 and a debt-to-equity ratio of 0.19. The firm has a market cap of $328.70, a price-to-earnings ratio of 34.14 and a beta of 1.23. Landec has a 12 month low of $11.20 and a 12 month high of $15.50.

Landec (NASDAQ:LNDC) last posted its earnings results on Tuesday, September 26th. The basic materials company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.02. The company had revenue of $123.40 million for the quarter, compared to analyst estimates of $123.00 million. Landec had a net margin of 1.80% and a return on equity of 4.17%. Landec’s revenue was down 6.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.12 EPS. sell-side analysts anticipate that Landec will post 0.54 EPS for the current year.

In other Landec news, CEO Molly Hemmeter sold 7,399 shares of the stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $13.06, for a total value of $96,630.94. Following the sale, 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 at the SEC website. Corporate insiders own 4.62% of the company’s stock.

Large investors have recently modified their holdings of the stock. Citigroup Inc. boosted its stake in Landec by 489.6% during the 2nd quarter. Citigroup Inc. now owns 9,840 shares of the basic materials company’s stock worth $146,000 after purchasing an additional 8,171 shares during the period. Acrospire Investment Management LLC boosted its stake in Landec by 185.8% during the 2nd quarter. Acrospire Investment Management LLC now owns 10,722 shares of the basic materials company’s stock worth $159,000 after purchasing an additional 6,971 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Landec during the 3rd quarter worth $141,000. Zacks Investment Management acquired a new stake in shares of Landec in the 2nd quarter worth $167,000. Finally, Trexquant Investment LP acquired a new stake in shares of Landec in the 2nd quarter worth $167,000. Hedge funds and other institutional investors own 93.83% of the company’s stock.

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About Landec

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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