$131.14 Million in Sales Expected for Landec Co. (NASDAQ:LNDC) This Quarter

Wall Street analysts predict that Landec Co. (NASDAQ:LNDC) will report $131.14 million in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Landec’s earnings, with estimates ranging from $122.12 million to $136.86 million. Landec reported sales of $124.67 million during the same quarter last year, which indicates a positive year-over-year growth rate of 5.2%. The company is expected to issue its next earnings report after the market closes on Tuesday, October 1st.

According to Zacks, analysts expect that Landec will report full-year sales of $602.29 million for the current year, with estimates ranging from $597.90 million to $608.29 million. For the next financial year, analysts expect that the firm will report sales of $629.54 million, with estimates ranging from $616.40 million to $646.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Landec.

Landec (NASDAQ:LNDC) last issued its quarterly earnings data on Tuesday, July 30th. The basic materials company reported $0.12 earnings per share for the quarter. The business had revenue of $152.78 million during the quarter. Landec had a net margin of 0.07% and a return on equity of 1.90%.

Several equities analysts have recently commented on LNDC shares. DA Davidson started coverage on shares of Landec in a research report on Friday, August 23rd. They issued a “buy” rating for the company. BidaskClub cut shares of Landec from a “buy” rating to a “hold” rating in a research report on Thursday. Maxim Group restated a “buy” rating and issued a $17.00 target price on shares of Landec in a research report on Wednesday, July 31st. Zacks Investment Research cut shares of Landec from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Barrington Research started coverage on shares of Landec in a research report on Tuesday, September 3rd. They issued an “outperform” rating and a $13.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $13.50.

Shares of NASDAQ:LNDC traded down $0.23 during midday trading on Thursday, hitting $10.76. The stock had a trading volume of 241,104 shares, compared to its average volume of 96,922. The company’s 50-day moving average price is $11.12 and its 200-day moving average price is $10.69. The company has a market capitalization of $320.32 million, a P/E ratio of 33.63, a price-to-earnings-growth ratio of 4.10 and a beta of 0.74. The company has a quick ratio of 0.58, a current ratio of 0.97 and a debt-to-equity ratio of 0.34. Landec has a fifty-two week low of $9.02 and a fifty-two week high of $15.57.

In related news, Director Nelson Obus purchased 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average cost of $10.50 per share, with a total value of $105,000.00. Following the acquisition, the director now owns 27,915 shares of the company’s stock, valued at approximately $293,107.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 14.99% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the stock. First Trust Advisors LP grew its holdings in shares of Landec by 6.3% during the 1st quarter. First Trust Advisors LP now owns 53,174 shares of the basic materials company’s stock valued at $653,000 after purchasing an additional 3,150 shares during the last quarter. Swiss National Bank grew its holdings in shares of Landec by 7.5% during the 2nd quarter. Swiss National Bank now owns 48,800 shares of the basic materials company’s stock valued at $457,000 after purchasing an additional 3,400 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of Landec by 389.6% during the 1st 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 last quarter. Tower Research Capital LLC TRC bought a new stake in shares of Landec during the 2nd quarter valued at approximately $44,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Landec by 3.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 159,516 shares of the basic materials company’s stock valued at $1,495,000 after purchasing an additional 4,760 shares during the last quarter. 94.36% of the stock is currently owned by institutional investors.

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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