Zacks Investment Research upgraded shares of Landec (NASDAQ:LNDC) from a sell rating to a hold rating in a research report sent to investors on Thursday morning.
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. “
Several other equities research analysts also recently weighed in on the stock. BidaskClub upgraded shares of Landec from a strong sell rating to a sell rating in a research note on Saturday, February 10th. Sidoti began coverage on shares of Landec in a research note on Wednesday, December 13th. They set a buy rating for the company. Finally, Maxim Group reiterated a buy rating and set a $18.00 target price on shares of Landec in a research note on Wednesday, November 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $15.33.
Landec (NASDAQ:LNDC) last announced its earnings results on Wednesday, January 3rd. The basic materials company reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01. Landec had a net margin of 1.64% and a return on equity of 3.75%. The business had revenue of $136.50 million during the quarter, compared to the consensus estimate of $135.82 million. During the same quarter in the prior year, the firm earned $0.05 earnings per share. The business’s quarterly revenue was up .4% compared to the same quarter last year. sell-side analysts forecast that Landec will post 0.5 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. NWQ Investment Management Company LLC raised its holdings in Landec by 1.4% during the third quarter. NWQ Investment Management Company LLC now owns 3,779,223 shares of the basic materials company’s stock worth $48,941,000 after purchasing an additional 53,050 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Landec by 0.6% during the third quarter. Dimensional Fund Advisors LP now owns 2,310,744 shares of the basic materials company’s stock worth $29,924,000 after purchasing an additional 13,077 shares in the last quarter. BlackRock Inc. raised its holdings in Landec by 1.0% during the fourth quarter. BlackRock Inc. now owns 1,872,983 shares of the basic materials company’s stock worth $23,600,000 after purchasing an additional 18,293 shares in the last quarter. Vanguard Group Inc. raised its holdings in Landec by 3.1% during the second quarter. Vanguard Group Inc. now owns 1,293,566 shares of the basic materials company’s stock worth $19,209,000 after purchasing an additional 38,572 shares in the last quarter. Finally, Walthausen & Co. LLC raised its holdings in Landec by 327.0% during the third quarter. Walthausen & Co. LLC now owns 832,715 shares of the basic materials company’s stock worth $10,784,000 after purchasing an additional 637,711 shares in the last quarter. 93.74% of the stock is owned by hedge funds and other institutional investors.
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Landec 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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