Brokerages Set Landec Co. (LNDC) Price Target at $17.50

Landec Co. (NASDAQ:LNDC) has been given a consensus rating of “Hold” by the six brokerages that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $17.50.

A number of research firms have recently issued reports on LNDC. BidaskClub cut shares of Landec from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 7th. ValuEngine cut shares of Landec from a “buy” rating to a “hold” rating in a research report on Monday, February 4th. Finally, Zacks Investment Research cut shares of Landec from a “hold” rating to a “sell” rating in a research report on Wednesday, February 13th.

In other Landec news, CFO Gregory S. Skinner purchased 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 8th. The shares were acquired at an average price of $11.25 per share, with a total value of $281,250.00. Following the transaction, the chief financial officer now owns 288,036 shares in the company, valued at $3,240,405. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Steven D. Goldby purchased 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 8th. The stock was acquired at an average cost of $11.24 per share, for a total transaction of $224,800.00. Following the transaction, the director now owns 66,490 shares in the company, valued at approximately $747,347.60. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 78,900 shares of company stock worth $921,228. 15.04% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc lifted its position in Landec by 36.1% in the 4th quarter. Legal & General Group Plc now owns 5,283 shares of the basic materials company’s stock valued at $62,000 after acquiring an additional 1,401 shares in the last quarter. Citigroup Inc. lifted its position in Landec by 16.7% in the 4th quarter. Citigroup Inc. now owns 8,726 shares of the basic materials company’s stock valued at $103,000 after acquiring an additional 1,246 shares in the last quarter. Metropolitan Life Insurance Co. NY lifted its position in Landec by 420.3% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 9,543 shares of the basic materials company’s stock valued at $113,000 after acquiring an additional 7,709 shares in the last quarter. Citadel Advisors LLC bought a new position in Landec in the 3rd quarter valued at about $205,000. Finally, First Interstate Bank lifted its position in Landec by 10.9% in the 4th quarter. First Interstate Bank now owns 17,845 shares of the basic materials company’s stock valued at $211,000 after acquiring an additional 1,750 shares in the last quarter. 88.73% of the stock is currently owned by institutional investors and hedge funds.

LNDC traded down $1.62 during trading on Friday, reaching $11.36. 18,003 shares of the stock traded hands, compared to its average volume of 97,139. The company has a current ratio of 0.95, a quick ratio of 0.63 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $365.80 million, a P/E ratio of 27.68 and a beta of 0.94. Landec has a 12 month low of $10.17 and a 12 month high of $15.60.

Landec (NASDAQ:LNDC) last released its quarterly earnings data on Wednesday, April 3rd. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.01. The company had revenue of $155.69 million for the quarter, compared to analysts’ expectations of $156.47 million. Landec had a net margin of 4.04% and a return on equity of 3.70%. The business’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.58 EPS. As a group, research analysts predict that Landec will post 0.23 EPS 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 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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