Landec (NASDAQ:LNDC) Stock Rating Upgraded by Zacks Investment Research

Landec (NASDAQ:LNDC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday, Zacks.com reports.

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. “

LNDC has been the topic of several other research reports. Lake Street Capital cut their price target on Landec from $16.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. Roth Capital reaffirmed a “neutral” rating and set a $12.00 price target (down previously from $16.50) on shares of Landec in a research report on Monday, April 8th. Finally, BidaskClub lowered Landec from a “hold” rating to a “sell” rating in a research report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $13.67.

LNDC stock opened at $9.39 on Tuesday. The stock’s 50 day simple moving average is $9.67. The stock has a market capitalization of $277.82 million, a PE ratio of 22.90 and a beta of 0.85. Landec has a fifty-two week low of $9.02 and a fifty-two week high of $15.57. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.59 and a current ratio of 0.96.

Landec (NASDAQ:LNDC) last posted its earnings results on Wednesday, April 3rd. The basic materials company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.01. The firm had revenue of $155.69 million during the quarter, compared to analysts’ expectations of $156.47 million. Landec had a return on equity of 3.12% and a net margin of 1.24%. The firm’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.58 earnings per share. Research analysts predict that Landec will post 0.14 EPS for the current fiscal year.

In other news, Director Nelson Obus purchased 30,000 shares of the business’s stock in a transaction on Tuesday, April 9th. The shares were bought at an average price of $10.33 per share, with a total value of $309,900.00. Following the completion of the transaction, the director now directly owns 25,000 shares in the company, valued at approximately $258,250. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 15.04% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA increased its holdings in shares of Landec by 389.6% in the first quarter. BNP Paribas Arbitrage SA now owns 5,043 shares of the basic materials company’s stock valued at $62,000 after purchasing an additional 4,013 shares during the period. Legal & General Group Plc increased its holdings 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 purchasing an additional 1,401 shares during the period. Citigroup Inc. increased its holdings 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 purchasing an additional 1,246 shares during the period. Metropolitan Life Insurance Co. NY increased its holdings 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 purchasing an additional 7,709 shares during the period. Finally, Virginia Retirement Systems ET AL acquired a new position in shares of Landec in the first quarter valued at approximately $239,000. 90.17% of the stock is currently owned by institutional investors and hedge funds.

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.

Further Reading: What are different types of coverage ratios?

Get a free copy of the Zacks research report on Landec (LNDC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Landec Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Landec and related companies with MarketBeat.com's FREE daily email newsletter.