Landec Corp. (NASDAQ:LNDC) – Analysts at Roth Capital reduced their Q3 2017 earnings estimates for shares of Landec Corp. in a research report issued to clients and investors on Thursday. Roth Capital analyst A. Brenner now expects that the firm will post earnings per share of $0.20 for the quarter, down from their prior estimate of $0.21.
Landec Corp. (NASDAQ:LNDC) last released its quarterly earnings results on Tuesday, September 27th. The company reported $0.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.02. Landec Corp. had a positive return on equity of 4.75% and a negative net margin of 2.10%. The company earned $132.40 million during the quarter. During the same period last year, the firm earned $0.11 earnings per share. The business’s revenue was down 2.2% compared to the same quarter last year.
Several other analysts have also recently commented on the company. Zacks Investment Research upgraded Landec Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, August 9th. Wedbush assumed coverage on Landec Corp. in a research report on Thursday, July 7th. They issued a “neutral” rating and a $12.00 target price on the stock. Finally, Maxim Group assumed coverage on Landec Corp. in a research report on Tuesday, June 7th. They issued a “buy” rating and a $16.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Landec Corp. currently has a consensus rating of “Buy” and an average target price of $14.32.
Landec Corp. (NASDAQ:LNDC) traded down 0.15% during trading on Friday, hitting $13.41. The stock had a trading volume of 117,918 shares. Landec Corp. has a 1-year low of $9.48 and a 1-year high of $13.56. The stock’s market cap is $369.04 million. The firm’s 50-day moving average price is $12.71 and its 200-day moving average price is $11.48.
Institutional investors have recently modified their holdings of the stock. First Interstate Bank raised its position in shares of 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. bought a new stake in Landec Corp. during the second quarter valued at $161,000. Highbridge Capital Management LLC bought a new stake in Landec Corp. during the second quarter valued at $197,000. Prudential Financial Inc. raised its stake in Landec Corp. by 8.8% in the second quarter. Prudential Financial Inc. now owns 27,094 shares of the company’s stock valued at $292,000 after buying an additional 2,200 shares in the last quarter. Finally, Teachers Advisors Inc. raised its stake in Landec Corp. by 7.3% in the second quarter. Teachers Advisors Inc. now owns 45,646 shares of the company’s stock valued at $491,000 after buying an additional 3,111 shares in the last quarter. 94.83% of the stock is owned by hedge funds and other institutional investors.
In other Landec Corp. news, COO Ronald Lane Midyett sold 7,000 shares of the stock in a transaction 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 directly owns 111,169 shares of the company’s stock, valued at approximately $1,336,251.38. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gary T. Steele sold 34,484 shares of the stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $12.47, for a total value of $430,015.48. 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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