Landec (NASDAQ:LNDC) updated its third quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.14-0.16 for the period, compared to the Thomson Reuters consensus estimate of $0.23. The company issued revenue guidance of $140-145 million, compared to the consensus revenue estimate of $147.65 million.Landec also updated its FY18 guidance to $0.52-0.58 EPS.
A number of research firms have weighed in on LNDC. Wedbush reissued a hold rating and set a $13.00 target price on shares of Landec in a research report on Thursday, September 28th. Zacks Investment Research lowered shares of Landec from a strong-buy rating to a hold rating in a research report on Wednesday, October 25th. Maxim Group reissued a buy rating and set a $18.00 target price on shares of Landec in a research report on Wednesday, November 29th. BidaskClub lowered shares of Landec from a sell rating to a strong sell rating in a research report on Tuesday, December 5th. Finally, Sidoti began coverage on shares of Landec in a research report on Wednesday, December 13th. They set a buy rating for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $15.33.
Landec (NASDAQ:LNDC) opened at $12.65 on Thursday. The firm has a market cap of $343.83, a price-to-earnings ratio of 36.14 and a beta of 1.22. The company has a current ratio of 1.53, a quick ratio of 1.04 and a debt-to-equity ratio of 0.19. Landec has a 52-week low of $11.20 and a 52-week high of $14.95.
In other news, CEO Molly Hemmeter sold 7,399 shares of the company’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $13.06, for a total transaction of $96,630.94. Following the completion of the transaction, the chief executive officer now owns 53,017 shares of the company’s stock, valued at $692,402.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.62% of the stock is currently owned by corporate insiders.
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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