Landec (NASDAQ:LNDC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

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. “

A number of other brokerages also recently weighed in on LNDC. Wedbush restated a “hold” rating and set a $13.00 target price on shares of Landec in a report on Thursday, September 28th. BidaskClub upgraded shares of Landec from a “sell” rating to a “hold” rating in a report on Monday, August 14th. Finally, Maxim Group restated a “buy” rating and set a $18.00 target price on shares of Landec in a report on Wednesday, November 29th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. Landec has a consensus rating of “Hold” and an average price target of $15.33.

Shares of Landec (NASDAQ LNDC) traded down $0.30 on Wednesday, reaching $11.65. 44,298 shares of the company were exchanged, compared to its average volume of 70,595. The firm has a market capitalization of $332.83, a P/E ratio of 34.57 and a beta of 1.23. Landec has a fifty-two week low of $11.20 and a fifty-two week high of $15.50. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.04 and a current ratio of 1.53.

Landec (NASDAQ:LNDC) last issued its earnings results on Tuesday, September 26th. The basic materials company reported $0.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.02. The business had revenue of $123.40 million for the quarter, compared to the consensus estimate of $123.00 million. Landec had a net margin of 1.80% and a return on equity of 4.17%. The firm’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.12 earnings per share. analysts predict that Landec will post 0.54 earnings per share for the current year.

In other Landec news, CEO Molly Hemmeter sold 7,399 shares of the company’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $13.06, for a total value of $96,630.94. Following the transaction, the chief executive officer now directly owns 53,017 shares in the company, valued at $692,402.02. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 4.62% of the stock is owned by insiders.

Several large investors have recently added to or reduced their stakes in the business. NWQ Investment Management Company LLC increased its holdings in shares of Landec by 1.4% in the third quarter. NWQ Investment Management Company LLC now owns 3,779,223 shares of the basic materials company’s stock valued at $48,941,000 after purchasing an additional 53,050 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Landec by 0.6% in the third quarter. Dimensional Fund Advisors LP now owns 2,310,744 shares of the basic materials company’s stock valued at $29,924,000 after purchasing an additional 13,077 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Landec by 3.1% in the second quarter. Vanguard Group Inc. now owns 1,293,566 shares of the basic materials company’s stock valued at $19,209,000 after purchasing an additional 38,572 shares during the last quarter. Royce & Associates LP increased its holdings in shares of Landec by 17.0% in the second quarter. Royce & Associates LP now owns 1,214,136 shares of the basic materials company’s stock valued at $18,030,000 after purchasing an additional 176,629 shares during the last quarter. Finally, Walthausen & Co. LLC increased its holdings in shares of Landec by 327.0% in the third quarter. Walthausen & Co. LLC now owns 832,715 shares of the basic materials company’s stock valued at $10,784,000 after purchasing an additional 637,711 shares during the last quarter. Hedge funds and other institutional investors own 93.83% of the company’s stock.

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Landec Company Profile

Landec Corporation designs, develops, manufactures and sells a range of health and wellness products for food and biomaterials markets. The Company licenses technology applications to partners. The Company operates through three segments: Packaged Fresh Vegetables, Food Export and Biomaterials. The Packaged Fresh Vegetables segment markets and packs specialty packaged whole and fresh-cut fruit and vegetables, the majority of which incorporate the BreatheWay specialty packaging for the retail grocery, club store and food services industry.

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