Landec (NASDAQ:LNDC) Upgraded by Zacks Investment Research to “Buy”

Zacks Investment Research upgraded shares of Landec (NASDAQ:LNDC) from a hold rating to a buy rating in a report issued on Tuesday, Zacks.com reports. Zacks Investment Research currently has $12.00 price target on the basic materials company’s stock.

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 research firms have also recently weighed in on LNDC. BidaskClub cut shares of Landec from a buy rating to a hold rating in a report on Saturday. Barrington Research reissued an in-line rating and set a $11.00 target price (down from $13.00) on shares of Landec in a research note on Thursday, October 3rd. Maxim Group restated a buy rating and set a $17.00 target price on shares of Landec in a research report on Friday, November 1st. Finally, DA Davidson started coverage on Landec in a research note on Friday, August 23rd. They issued a buy rating for the company. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Landec currently has a consensus rating of Buy and a consensus price target of $12.80.

NASDAQ:LNDC opened at $11.18 on Tuesday. Landec has a one year low of $9.00 and a one year high of $14.20. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.51 and a current ratio of 0.89. The firm has a market cap of $323.88 million, a price-to-earnings ratio of 34.94, a PEG ratio of 4.41 and a beta of 0.75. The firm’s fifty day moving average is $10.67 and its two-hundred day moving average is $10.45.

Landec (NASDAQ:LNDC) last issued its earnings results on Tuesday, October 1st. The basic materials company reported ($0.16) EPS for the quarter, hitting analysts’ consensus estimates of ($0.16). The company had revenue of $138.70 million during the quarter, compared to analysts’ expectations of $131.14 million. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.01 EPS. As a group, equities research analysts predict that Landec will post 0.25 earnings per share for the current fiscal year.

In related news, Director Nelson Obus purchased 5,000 shares of Landec stock in a transaction that occurred on Monday, October 14th. The stock was purchased at an average price of $9.32 per share, for a total transaction of $46,600.00. Following the transaction, the director now directly owns 27,915 shares in the company, valued at $260,167.80. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, VP Timothy P. Burgess purchased 5,100 shares of Landec stock in a transaction that occurred on Thursday, October 31st. The shares were bought at an average price of $10.04 per share, with a total value of $51,204.00. The disclosure for this purchase can be found here. Insiders have bought a total of 43,900 shares of company stock worth $444,496 in the last quarter. Insiders own 14.99% of the company’s stock.

A number of hedge funds have recently bought and sold shares of LNDC. Wynnefield Capital Inc. increased its stake in Landec by 2.2% during the 2nd quarter. Wynnefield Capital Inc. now owns 2,795,300 shares of the basic materials company’s stock worth $26,192,000 after buying an additional 60,000 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Landec by 22.8% during the third quarter. Russell Investments Group Ltd. now owns 2,200,488 shares of the basic materials company’s stock worth $23,916,000 after purchasing an additional 407,935 shares in the last quarter. Vanguard Group Inc. raised its stake in Landec by 13.7% in the 2nd quarter. Vanguard Group Inc. now owns 1,812,483 shares of the basic materials company’s stock valued at $16,983,000 after purchasing an additional 218,927 shares during the last quarter. Heartland Advisors Inc. raised its stake in Landec by 24.6% in the 2nd quarter. Heartland Advisors Inc. now owns 1,041,475 shares of the basic materials company’s stock valued at $9,759,000 after purchasing an additional 205,775 shares during the last quarter. Finally, Boston Partners raised its stake in Landec by 1,375.6% in the 2nd quarter. Boston Partners now owns 903,652 shares of the basic materials company’s stock valued at $8,467,000 after purchasing an additional 842,413 shares during the last quarter. Institutional investors own 90.94% 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 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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