Landec (NASDAQ:LNDC) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Landec (NASDAQ:LNDC) from a sell rating to a hold rating in a report published on Tuesday, Zacks.com reports.

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. “

Other research analysts have also issued reports about the company. BidaskClub raised Landec from a strong sell rating to a sell rating in a research report on Tuesday, June 11th. Roth Capital reissued a neutral rating and set a $12.00 price target (down from $16.50) on shares of Landec in a research report on Monday, April 8th. Finally, Lake Street Capital dropped their price target on Landec from $16.00 to $12.00 and set a buy rating on the stock in a research report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $13.67.

NASDAQ:LNDC opened at $9.46 on Tuesday. The firm has a market capitalization of $274.02 million, a price-to-earnings ratio of 32.38 and a beta of 0.85. Landec has a 1-year low of $9.02 and a 1-year high of $15.57. The company has a quick ratio of 0.59, a current ratio of 0.96 and a debt-to-equity ratio of 0.35. The company’s fifty day simple moving average is $9.65.

Landec (NASDAQ:LNDC) last posted its quarterly earnings results on Wednesday, April 3rd. The basic materials company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.01. The firm had revenue of $155.69 million for the quarter, compared to analyst estimates of $156.47 million. Landec had a return on equity of 3.12% and a net margin of 1.24%. Landec’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.58 earnings per share. As a group, sell-side analysts anticipate that Landec will post 0.14 earnings per share for the current year.

In other news, Director Nelson Obus bought 30,000 shares of the company’s stock in a transaction on Tuesday, April 9th. The shares were bought at an average cost of $10.33 per share, with a total value of $309,900.00. Following the transaction, the director now directly owns 25,000 shares in the company, valued at approximately $258,250. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 15.04% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. First Trust Advisors LP raised its holdings in shares of Landec by 6.3% in the 1st quarter. First Trust Advisors LP now owns 53,174 shares of the basic materials company’s stock worth $653,000 after buying an additional 3,150 shares in the last quarter. Granite Investment Partners LLC raised its holdings in shares of Landec by 35.7% in the 1st quarter. Granite Investment Partners LLC now owns 59,219 shares of the basic materials company’s stock worth $727,000 after buying an additional 15,572 shares in the last quarter. Kennedy Capital Management Inc. raised its holdings in shares of Landec by 6.2% in the 1st quarter. Kennedy Capital Management Inc. now owns 203,457 shares of the basic materials company’s stock worth $2,498,000 after buying an additional 11,894 shares in the last quarter. Signia Capital Management LLC raised its holdings in shares of Landec by 26.0% in the 1st quarter. Signia Capital Management LLC now owns 266,033 shares of the basic materials company’s stock worth $3,267,000 after buying an additional 54,890 shares in the last quarter. Finally, Pacific Ridge Capital Partners LLC raised its holdings in shares of Landec by 17.6% in the 1st quarter. Pacific Ridge Capital Partners LLC now owns 307,931 shares of the basic materials company’s stock worth $3,781,000 after buying an additional 46,193 shares in the last quarter. 90.17% of the stock is currently owned by institutional investors.

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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