Brokerages Set Landec Co. (LNDC) Price Target at $15.50
Landec Co. (NASDAQ:LNDC) has received a consensus rating of “Hold” from the six research firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $15.50.
A number of equities analysts have recently commented on LNDC shares. Zacks Investment Research cut shares of Landec from a “hold” rating to a “sell” rating in a report on Saturday, December 23rd. BidaskClub cut shares of Landec from a “hold” rating to a “sell” rating in a research note on Wednesday, March 21st. Finally, Maxim Group reissued a “buy” rating and issued a $18.00 price objective on shares of Landec in a research note on Tuesday, April 3rd.
Shares of Landec stock opened at $13.90 on Friday. The firm has a market capitalization of $380.39, a PE ratio of 49.29 and a beta of 0.82. Landec has a 12 month low of $11.42 and a 12 month high of $14.95. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.92 and a current ratio of 1.33.
In other Landec news, COO Ronald Lane Midyett sold 2,517 shares of the business’s stock in a transaction on Friday, April 6th. The shares were sold at an average price of $14.02, for a total transaction of $35,288.34. Following the sale, the chief operating officer now directly owns 86,412 shares in the company, valued at approximately $1,211,496.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.62% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the business. MetLife Investment Advisors LLC purchased a new stake in shares of Landec during the 4th quarter worth $177,000. Stone Ridge Asset Management LLC purchased a new stake in shares of Landec during the 4th quarter worth $405,000. Deutsche Bank AG boosted its position in shares of Landec by 111.0% during the 4th quarter. Deutsche Bank AG now owns 60,779 shares of the basic materials company’s stock worth $765,000 after purchasing an additional 31,978 shares in the last quarter. Kennedy Capital Management Inc. purchased a new stake in shares of Landec during the 4th quarter worth $1,410,000. Finally, Pacific Ridge Capital Partners LLC boosted its position in shares of Landec by 3.5% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 263,142 shares of the basic materials company’s stock worth $3,316,000 after purchasing an additional 9,010 shares in the last quarter. Institutional investors own 93.80% of the company’s stock.
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 three segments: Packaged Fresh Vegetables, Food Export, 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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