The Landec Corporation (LNDC) Downgraded to Hold at Zacks Investment Research

The Landec Corporation (LNDC) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Landec Corporation (NASDAQ:LNDC) from a strong-buy rating to a hold rating in a research report released on Wednesday.

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 analysts have also issued research reports about the company. Maxim Group restated a buy rating and set a $18.00 target price on shares of Landec Corporation in a report on Tuesday, September 26th. TheStreet lowered Landec Corporation from a b rating to a c+ rating in a report on Monday, July 31st. Wedbush reaffirmed a hold rating and set a $13.00 price target on shares of Landec Corporation in a research report on Thursday, September 28th. Finally, BidaskClub raised Landec Corporation from a sell rating to a hold rating in a research report on Monday, August 14th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Landec Corporation has an average rating of Hold and an average target price of $15.33.

Landec Corporation (NASDAQ LNDC) traded up 1.54% on Wednesday, reaching $13.20. The company had a trading volume of 42,071 shares. The company has a market capitalization of $363.08 million, a P/E ratio of 38.82 and a beta of 1.29. Landec Corporation has a 52 week low of $11.20 and a 52 week high of $15.50. The stock’s 50-day moving average is $12.80 and its 200-day moving average is $13.50.

Landec Corporation (NASDAQ:LNDC) last posted its earnings results on Tuesday, September 26th. The basic materials company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. The company had revenue of $123.40 million during the quarter, compared to analyst estimates of $123.00 million. Landec Corporation had a return on equity of 4.17% and a net margin of 1.80%. Landec Corporation’s revenue was down 6.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.12 earnings per share. Equities research analysts forecast that Landec Corporation will post $0.55 EPS for the current fiscal year.

In related news, CEO Molly Hemmeter sold 7,399 shares of the company’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $13.06, for a total value of $96,630.94. Following the transaction, the chief executive officer now directly owns 53,017 shares of the company’s stock, valued at approximately $692,402.02. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 4.62% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company increased its position in shares of Landec Corporation by 0.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,688 shares of the basic materials company’s stock valued at $336,000 after acquiring an additional 110 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of Landec Corporation by 0.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 106,809 shares of the basic materials company’s stock valued at $1,587,000 after acquiring an additional 589 shares during the period. TIAA CREF Investment Management LLC increased its position in shares of Landec Corporation by 1.0% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 75,251 shares of the basic materials company’s stock valued at $1,117,000 after acquiring an additional 745 shares during the period. Crestwood Advisors Group LLC increased its position in shares of Landec Corporation by 6.1% in the 2nd quarter. Crestwood Advisors Group LLC now owns 15,588 shares of the basic materials company’s stock valued at $203,000 after acquiring an additional 900 shares during the period. Finally, American International Group Inc. increased its position in shares of Landec Corporation by 7.2% in the 1st quarter. American International Group Inc. now owns 16,486 shares of the basic materials company’s stock valued at $198,000 after acquiring an additional 1,102 shares during the period. 92.01% of the stock is currently owned by hedge funds and other institutional investors.

Landec Corporation Company Profile

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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