Landec (NASDAQ:LNDC) released its quarterly earnings data on Tuesday. The basic materials company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.11), Fidelity Earnings reports. Landec had a negative net margin of 8.85% and a negative return on equity of 0.04%.
Shares of LNDC traded down $0.94 during mid-day trading on Thursday, reaching $10.01. The company’s stock had a trading volume of 21,285 shares, compared to its average volume of 119,978. The stock has a market cap of $293.52 million, a PE ratio of -5.76, a P/E/G ratio of 33.84 and a beta of 1.04. The company has a current ratio of 0.89, a quick ratio of 0.48 and a debt-to-equity ratio of 0.39. Landec has a 52 week low of $7.48 and a 52 week high of $12.24. The company’s fifty day moving average price is $11.26 and its two-hundred day moving average price is $10.69.
In other Landec news, Director Nelson Obus acquired 6,400 shares of the stock in a transaction dated Monday, January 11th. The stock was purchased at an average cost of $10.81 per share, for a total transaction of $69,184.00. Following the acquisition, the director now owns 36,115 shares in the company, valued at approximately $390,403.15. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Albert D. Bolles acquired 10,000 shares of the stock in a transaction dated Tuesday, January 19th. The stock was acquired at an average price of $10.98 per share, with a total value of $109,800.00. Following the completion of the acquisition, the chief executive officer now owns 36,152 shares in the company, valued at approximately $396,948.96. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 20,400 shares of company stock valued at $224,844. Company insiders own 11.89% of the company’s stock.
Several equities research analysts have issued reports on the stock. Lake Street Capital dropped their target price on shares of Landec from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Thursday. Zacks Investment Research upgraded shares of Landec from a “sell” rating to a “hold” rating in a research report on Tuesday, March 16th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $13.50.
Landec Corporation, together with its subsidiaries, designs, develops, manufactures, and sells differentiated health and wellness products for food and biomaterials markets. It operates through Curation Foods and Lifecore segments. The Curation Foods segment engages in processing, marketing, and selling of vegetable-based salads, and fresh-cut and whole vegetable products primarily under the Eat Smart brand, O branded olive oils and wine vinegars, and Yucatan and Cabo Fresh guacamole and avocado food products, as well as various private labels.
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