Landec Co. (LNDC) Receives $17.50 Consensus Price Target from Brokerages

Shares of Landec Co. (NASDAQ:LNDC) have been assigned a consensus rating of “Hold” from the six analysts that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $17.50.

Several brokerages have weighed in on LNDC. BidaskClub upgraded Landec from a “sell” rating to a “hold” rating in a research note on Wednesday, February 20th. Zacks Investment Research downgraded Landec from a “hold” rating to a “sell” rating in a research note on Wednesday, February 13th. ValuEngine downgraded Landec from a “buy” rating to a “hold” rating in a research note on Monday, February 4th. Finally, Maxim Group reiterated a “buy” rating and issued a $17.00 target price (down from $20.00) on shares of Landec in a research note on Thursday, January 3rd.

In other Landec news, CFO Gregory S. Skinner purchased 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 8th. The shares were purchased at an average cost of $11.25 per share, for a total transaction of $281,250.00. Following the completion of the purchase, the chief financial officer now directly owns 288,036 shares in the company, valued at $3,240,405. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Steven D. Goldby purchased 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 8th. The stock was acquired at an average price of $11.24 per share, for a total transaction of $224,800.00. Following the completion of the purchase, the director now owns 66,490 shares of the company’s stock, valued at $747,347.60. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 78,900 shares of company stock worth $921,228. Company insiders own 15.04% of the company’s stock.

Several institutional investors have recently bought and sold shares of LNDC. Legal & General Group Plc boosted its stake in shares of Landec by 36.1% in the fourth quarter. Legal & General Group Plc now owns 5,283 shares of the basic materials company’s stock valued at $62,000 after buying an additional 1,401 shares in the last quarter. Citigroup Inc. boosted its stake in shares of Landec by 16.7% in the fourth quarter. Citigroup Inc. now owns 8,726 shares of the basic materials company’s stock valued at $103,000 after buying an additional 1,246 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in shares of Landec by 420.3% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 9,543 shares of the basic materials company’s stock valued at $113,000 after buying an additional 7,709 shares in the last quarter. Citadel Advisors LLC purchased a new stake in shares of Landec in the third quarter valued at approximately $205,000. Finally, First Interstate Bank boosted its stake in shares of Landec by 10.9% in the fourth quarter. First Interstate Bank now owns 17,845 shares of the basic materials company’s stock valued at $211,000 after buying an additional 1,750 shares in the last quarter. Hedge funds and other institutional investors own 88.84% of the company’s stock.

Shares of LNDC stock opened at $11.86 on Tuesday. Landec has a twelve month low of $10.17 and a twelve month high of $15.60. The company has a market capitalization of $373.96 million, a price-to-earnings ratio of 28.93 and a beta of 0.90. The company has a current ratio of 0.95, a quick ratio of 0.63 and a debt-to-equity ratio of 0.15.

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 two segments, Packaged Fresh Vegetables 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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