Landec Corp. (NASDAQ:LNDC) Receives $14.40 Consensus PT from Brokerages
Shares of Landec Corp. (NASDAQ:LNDC) have earned a consensus recommendation of “Buy” from the seven analysts that are covering the company. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $14.40.
A number of research firms recently weighed in on LNDC. Zacks Investment Research raised shares of Landec Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, August 9th. Wedbush began coverage on shares of Landec Corp. in a report on Thursday, July 7th. They set a “neutral” rating and a $12.00 price target for the company.
In other Landec Corp. news, Director Gary T. Steele sold 34,484 shares of the stock in a transaction on Thursday, August 11th. The shares were 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 can be accessed through the SEC website. Also, COO Ronald Lane Midyett sold 7,000 shares of the stock in a transaction on Friday, August 5th. The shares were sold at an average price of $12.02, for a total transaction of $84,140.00. Following the transaction, the chief operating officer now owns 111,169 shares in the company, valued at $1,336,251.38. The disclosure for this sale can be found here. Company insiders own 4.89% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. 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. Hedge funds and other institutional investors own 94.83% of the company’s stock.
Landec Corp. (NASDAQ:LNDC) opened at 13.43 on Wednesday. The stock’s 50 day moving average is $12.85 and its 200-day moving average is $11.59. The firm’s market capitalization is $365.85 million. Landec Corp. has a 52 week low of $9.48 and a 52 week high of $13.56.
Landec Corp. (NASDAQ:LNDC) last released its quarterly earnings results on Tuesday, September 27th. The company reported $0.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.02. The business earned $132.40 million during the quarter. Landec Corp. had a negative net margin of 2.10% and a positive return on equity of 4.74%. Landec Corp.’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.11 earnings per share. On average, equities research analysts expect that Landec Corp. will post $0.58 EPS for the current year.
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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