Brokerages Set Landec Co. (LNDC) Price Target at $18.00

Shares of Landec Co. (NASDAQ:LNDC) have been given an average recommendation of “Buy” by the seven research firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $18.00.

Several equities analysts recently issued reports on the stock. TheStreet lowered shares of Landec from a “b-” rating to a “c+” rating in a report on Friday, September 7th. BidaskClub lowered shares of Landec from a “sell” rating to a “strong sell” rating in a report on Friday, August 3rd. Maxim Group reaffirmed a “buy” rating and issued a $18.00 price target on shares of Landec in a report on Wednesday, August 1st. ValuEngine lowered shares of Landec from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. Finally, Zacks Investment Research lowered shares of Landec from a “hold” rating to a “sell” rating in a report on Thursday, October 18th.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in Landec by 5.0% in the second quarter. BlackRock Inc. now owns 1,950,345 shares of the basic materials company’s stock worth $29,061,000 after purchasing an additional 92,444 shares during the last quarter. Royce & Associates LP grew its holdings in Landec by 3.3% in the second quarter. Royce & Associates LP now owns 1,274,408 shares of the basic materials company’s stock worth $18,989,000 after purchasing an additional 40,217 shares during the last quarter. Investment Counselors of Maryland LLC grew its holdings in Landec by 57.8% in the second quarter. Investment Counselors of Maryland LLC now owns 594,578 shares of the basic materials company’s stock worth $8,859,000 after purchasing an additional 217,824 shares during the last quarter. Northpointe Capital LLC grew its holdings in Landec by 62.3% in the third quarter. Northpointe Capital LLC now owns 320,677 shares of the basic materials company’s stock worth $4,618,000 after purchasing an additional 123,111 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in Landec by 1.7% in the third quarter. Wells Fargo & Company MN now owns 269,793 shares of the basic materials company’s stock worth $3,885,000 after purchasing an additional 4,470 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Shares of LNDC stock opened at $13.80 on Wednesday. The company has a market cap of $379.89 million, a P/E ratio of 38.03 and a beta of 0.64. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.67 and a current ratio of 1.02. Landec has a 52-week low of $11.42 and a 52-week high of $15.60.

Landec (NASDAQ:LNDC) last issued its quarterly earnings data on Tuesday, October 2nd. The basic materials company reported $0.01 earnings per share (EPS) for the quarter. The company had revenue of $124.70 million for the quarter, compared to analyst estimates of $123.94 million. Landec had a net margin of 4.15% and a return on equity of 3.95%. Landec’s revenue was up 7.7% compared to the same quarter last year. During the same period last year, the company posted $0.08 earnings per share. Sell-side analysts anticipate that Landec will post 0.42 earnings per share for the current fiscal year.

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 three segments: Packaged Fresh Vegetables, Food Export, 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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