Landec (NASDAQ:LNDC) Lowered to Sell at BidaskClub

BidaskClub lowered shares of Landec (NASDAQ:LNDC) from a hold rating to a sell rating in a research note released on Monday, April 1st, BidAskClub reports.

Several other brokerages also recently weighed in on LNDC. ValuEngine downgraded shares of Landec from a buy rating to a hold rating in a report on Monday, February 4th. Zacks Investment Research downgraded shares of Landec from a hold rating to a sell rating in a report on Wednesday, February 13th. Finally, Maxim Group reissued a buy rating and issued a $17.00 target price (down previously from $20.00) on shares of Landec in a report on Thursday, January 3rd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $14.50.

NASDAQ:LNDC traded down $0.02 during trading hours on Monday, hitting $10.41. 349,507 shares of the stock traded hands, compared to its average volume of 130,445. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.96 and a quick ratio of 0.59. Landec has a 1 year low of $9.90 and a 1 year high of $15.60. The company has a market capitalization of $295.92 million, a P/E ratio of 25.39 and a beta of 0.94.

Landec (NASDAQ:LNDC) last issued 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. Landec had a net margin of 1.24% and a return on equity of 3.12%. The business had revenue of $155.69 million for the quarter, compared to the consensus estimate of $156.47 million. During the same quarter in the previous year, the firm earned $0.58 earnings per share. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, sell-side analysts anticipate that Landec will post 0.15 earnings per share for the current fiscal year.

In related news, Director Nelson Obus bought 20,000 shares of the stock in a transaction dated Wednesday, February 6th. The shares were purchased at an average price of $12.38 per share, with a total value of $247,600.00. Following the completion of the acquisition, the director now owns 25,000 shares of the company’s stock, valued at $309,500. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders bought 62,900 shares of company stock worth $713,848 in the last three months. Insiders own 15.04% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Legato Capital Management LLC lifted its holdings in shares of Landec by 97.3% in the first quarter. Legato Capital Management LLC now owns 176,220 shares of the basic materials company’s stock worth $2,164,000 after buying an additional 86,890 shares in the last quarter. Chartwell Investment Partners LLC raised its stake in Landec by 4.8% during the first quarter. Chartwell Investment Partners LLC now owns 115,740 shares of the basic materials company’s stock valued at $1,421,000 after purchasing an additional 5,291 shares in the last quarter. North Star Investment Management Corp. raised its stake in Landec by 17.9% during the first quarter. North Star Investment Management Corp. now owns 147,175 shares of the basic materials company’s stock valued at $1,807,000 after purchasing an additional 22,300 shares in the last quarter. Geode Capital Management LLC raised its stake in Landec by 5.6% during the fourth quarter. Geode Capital Management LLC now owns 278,111 shares of the basic materials company’s stock valued at $3,292,000 after purchasing an additional 14,642 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in Landec by 36.1% during the fourth quarter. Legal & General Group Plc now owns 5,283 shares of the basic materials company’s stock valued at $62,000 after purchasing an additional 1,401 shares in the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

About Landec

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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