Feltl & Co. Equities Analysts Reduce Earnings Estimates for Landec Corp. (LNDC)
Landec Corp. (NASDAQ:LNDC) – Research analysts at Feltl & Co. lowered their Q2 2017 EPS estimates for Landec Corp. in a research report issued to clients and investors on Thursday. Feltl & Co. analyst B. Rystrom now forecasts that the brokerage will post earnings per share of $0.07 for the quarter, down from their previous estimate of $0.08. Feltl & Co. also issued estimates for Landec Corp.’s Q3 2017 earnings at $0.16 EPS, Q2 2018 earnings at $0.14 EPS, Q3 2018 earnings at $0.27 EPS, Q4 2018 earnings at $0.29 EPS and FY2018 earnings at $0.81 EPS.
Several other analysts have also weighed in on LNDC. Maxim Group started coverage on Landec Corp. in a report on Tuesday, June 7th. They set a “buy” rating and a $16.00 price target on the stock. Zacks Investment Research upgraded Landec Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, June 7th. Finally, Wedbush started coverage on Landec Corp. in a report on Thursday, July 7th. They set a “neutral” rating and a $12.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Landec Corp. has an average rating of “Buy” and an average target price of $14.32.
Shares of Landec Corp. (NASDAQ:LNDC) opened at 13.26 on Monday. The stock’s 50 day moving average is $12.76 and its 200-day moving average is $11.54. Landec Corp. has a one year low of $9.48 and a one year high of $13.56. The company’s market cap is $361.22 million.
Landec Corp. (NASDAQ:LNDC) last announced its earnings results on Tuesday, September 27th. The company reported $0.12 EPS for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.02. Landec Corp. had a negative net margin of 2.10% and a positive return on equity of 4.74%. The firm had revenue of $132.40 million for the quarter. During the same quarter last year, the firm posted $0.11 EPS. The business’s quarterly revenue was down 2.2% on a year-over-year basis.
In other news, Director Gary T. Steele sold 34,484 shares of the stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $12.47, for a total transaction of $430,015.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Ronald Lane Midyett sold 7,000 shares of the stock in a transaction on Friday, August 5th. The stock was sold at an average price of $12.02, for a total value of $84,140.00. Following the transaction, the chief operating officer now directly owns 111,169 shares in the company, valued at approximately $1,336,251.38. The disclosure for this sale can be found here. 4.89% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of LNDC. Franklin Resources Inc. increased its position in Landec Corp. by 109.5% in the first quarter. Franklin Resources Inc. now owns 2,140,800 shares of the company’s stock worth $22,478,000 after buying an additional 1,119,000 shares during the last quarter. Royce & Associates LP increased its position in Landec Corp. by 1.7% in the first quarter. Royce & Associates LP now owns 1,024,601 shares of the company’s stock worth $10,758,000 after buying an additional 17,465 shares during the last quarter. NWQ Investment Management Company LLC increased its position in Landec Corp. by 6.7% in the first quarter. NWQ Investment Management Company LLC now owns 2,484,569 shares of the company’s stock worth $26,088,000 after buying an additional 155,629 shares during the last quarter. Geode Capital Management LLC increased its position in Landec Corp. by 10.7% in the first quarter. Geode Capital Management LLC now owns 190,498 shares of the company’s stock worth $2,000,000 after buying an additional 18,461 shares during the last quarter. Finally, Foundry Partners LLC increased its position in Landec Corp. by 0.3% in the second quarter. Foundry Partners LLC now owns 263,925 shares of the company’s stock worth $2,840,000 after buying an additional 850 shares during the last quarter. 94.83% of the stock is currently owned by institutional investors and hedge funds.
About Landec Corp.
Landec Corporation designs, develops, manufactures and sells differentiated products for food and biomaterials markets and licenses technology applications to partners. The Company’s segments include Food Products Technology, Food Export and Hyaluronan-based Biomaterials. The Company’s Food Products Technology segment markets and packs specialty packaged whole and fresh-cut fruit and vegetables.
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