Landec Corp. (NASDAQ:LNDC) – Lake Street Capital lifted their FY2017 earnings per share estimates for shares of Landec Corp. in a research report issued on Wednesday. Lake Street Capital analyst C. Krueger now forecasts that the brokerage will earn $0.59 per share for the year, up from their prior estimate of $0.57.
Several other research analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of Landec Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, August 9th. Maxim Group started coverage on shares of Landec Corp. in a report on Tuesday, June 7th. They set a “buy” rating and a $16.00 price objective for the company. Finally, Wedbush started coverage on shares of Landec Corp. in a report on Thursday, July 7th. They set a “neutral” rating and a $12.00 price objective for the company. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Landec Corp. presently has an average rating of “Buy” and an average price target of $14.32.
Landec Corp. (NASDAQ:LNDC) traded up 0.30% during mid-day trading on Friday, hitting $13.47. 73,470 shares of the stock traded hands. Landec Corp. has a 12 month low of $9.48 and a 12 month high of $13.56. The company’s 50 day moving average is $12.68 and its 200 day moving average is $11.45. The company’s market cap is $370.69 million.
Landec Corp. (NASDAQ:LNDC) last posted its quarterly earnings data on Tuesday, September 27th. The company reported $0.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.02. The firm had revenue of $132.40 million for the quarter. Landec Corp. had a negative net margin of 2.10% and a positive return on equity of 4.75%. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.11 EPS.
Several institutional investors have recently bought and sold shares of LNDC. First Interstate Bank raised its position in Landec Corp. by 21.3% in the second quarter. First Interstate Bank now owns 12,590 shares of the company’s stock worth $135,000 after buying an additional 2,210 shares during the last quarter. Nomura Holdings Inc. purchased a new position in Landec Corp. during the second quarter worth $161,000. Highbridge Capital Management LLC purchased a new position in Landec Corp. during the second quarter worth $197,000. Prudential Financial Inc. raised its position in Landec Corp. by 8.8% in the second quarter. Prudential Financial Inc. now owns 27,094 shares of the company’s stock worth $292,000 after buying an additional 2,200 shares during the last quarter. Finally, Teachers Advisors Inc. raised its position in Landec Corp. by 7.3% in the second quarter. Teachers Advisors Inc. now owns 45,646 shares of the company’s stock worth $491,000 after buying an additional 3,111 shares during the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.
In other Landec Corp. news, Director Gary T. Steele sold 34,484 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $12.47, for a total value of $430,015.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Ronald Lane Midyett sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $12.02, for a total transaction of $84,140.00. Following the completion of the transaction, the chief operating officer now owns 111,169 shares of the company’s stock, valued at $1,336,251.38. The disclosure for this sale can be found here. Company insiders own 4.89% of the company’s stock.
Landec Corp. Company Profile
Landec Corporation designs, develops, manufactures and sells differentiated products for food and biomaterials markets and licenses technology applications to partners. The Company’s segments include Food Products Technology, Food Export and Hyaluronan-based Biomaterials. The Company’s Food Products Technology segment markets and packs specialty packaged whole and fresh-cut fruit and vegetables.
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