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 analysts have also recently weighed in on LNDC. BidaskClub cut Landec from a hold rating to a sell rating in a research report on Monday, April 1st. ValuEngine lowered Landec from a buy rating to a hold rating in a research note on Monday, February 4th. Finally, Roth Capital reiterated a neutral rating and issued a $12.00 price objective (down from $16.50) on shares of Landec in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. Landec presently has an average rating of Hold and an average target price of $14.50.
LNDC traded down $0.11 during trading on Tuesday, reaching $9.99. 656 shares of the stock traded hands, compared to its average volume of 166,927. The stock has a market cap of $292.99 million, a price-to-earnings ratio of 24.76 and a beta of 0.86. Landec has a fifty-two week low of $9.53 and a fifty-two week high of $15.60. The company has a current ratio of 0.96, a quick ratio of 0.59 and a debt-to-equity ratio of 0.35.
Landec (NASDAQ:LNDC) last announced its quarterly earnings results on Wednesday, April 3rd. The basic materials company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. Landec had a return on equity of 3.12% and a net margin of 1.24%. The company had revenue of $155.69 million during the quarter, compared to analysts’ expectations of $156.47 million. During the same quarter in the previous year, the firm earned $0.58 earnings per share. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Landec will post 0.15 earnings per share for the current fiscal year.
In related news, Director Nelson Obus acquired 30,000 shares of the stock in a transaction dated Tuesday, April 9th. The shares were bought at an average cost of $10.33 per share, for a total transaction of $309,900.00. Following the purchase, the director now owns 25,000 shares in the company, valued at approximately $258,250. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 15.04% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in Landec by 1.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,361,057 shares of the basic materials company’s stock worth $28,994,000 after buying an additional 29,401 shares in the last quarter. BlackRock Inc. lifted its holdings in Landec by 2.3% during the 4th quarter. BlackRock Inc. now owns 2,048,555 shares of the basic materials company’s stock worth $24,253,000 after buying an additional 46,011 shares in the last quarter. Vanguard Group Inc lifted its stake in shares of Landec by 4.3% in the 3rd quarter. Vanguard Group Inc now owns 1,535,517 shares of the basic materials company’s stock valued at $22,112,000 after purchasing an additional 63,494 shares during the period. Vanguard Group Inc. lifted its stake in shares of Landec by 4.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,535,517 shares of the basic materials company’s stock valued at $22,112,000 after purchasing an additional 63,494 shares during the period. Finally, Royce & Associates LP increased its position in shares of Landec by 2.3% in the 4th quarter. Royce & Associates LP now owns 1,425,254 shares of the basic materials company’s stock valued at $16,875,000 after buying an additional 31,490 shares in the last quarter. 89.85% of the stock is currently owned by institutional investors and hedge funds.
Landec Corporation, together with its subsidiaries, designs, develops, manufactures, and sells differentiated health and wellness products for food and biomaterials markets. It operates through two segments, Packaged Fresh Vegetables 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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