Sidoti initiated coverage on shares of Landec (NASDAQ:LNDC) in a research note issued to investors on Wednesday, The Fly reports. The firm set a “buy” rating on the basic materials company’s stock.

Several other research analysts also recently commented on LNDC. Zacks Investment Research downgraded Landec from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 25th. Maxim Group reaffirmed a “buy” rating and issued a $18.00 price target on shares of Landec in a research note on Tuesday, September 26th. Wedbush reaffirmed a “hold” rating and issued a $13.00 price target on shares of Landec in a research note on Thursday, September 28th. Finally, BidaskClub lowered Landec from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 5th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $15.33.

Shares of Landec (LNDC) remained flat at $$11.85 during trading on Wednesday. 66,300 shares of the stock traded hands, compared to its average volume of 70,564. The firm has a market capitalization of $325.95, a price-to-earnings ratio of 33.86 and a beta of 1.23. The company has a current ratio of 1.53, a quick ratio of 1.04 and a debt-to-equity ratio of 0.19. Landec has a 1 year low of $11.20 and a 1 year high of $14.95.

Landec (NASDAQ:LNDC) last issued its quarterly earnings data on Tuesday, September 26th. The basic materials company reported $0.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.02. Landec had a return on equity of 4.17% and a net margin of 1.80%. The business had revenue of $123.40 million for the quarter, compared to the consensus estimate of $123.00 million. During the same period last year, the business earned $0.12 EPS. The firm’s revenue was down 6.8% compared to the same quarter last year. sell-side analysts predict that Landec will post 0.51 EPS for the current fiscal year.

In other Landec news, CEO Molly Hemmeter sold 7,399 shares of the stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $13.06, for a total value of $96,630.94. Following the completion of the sale, the chief executive officer now directly owns 53,017 shares in the company, valued at $692,402.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.62% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Citigroup Inc. increased its stake in shares of Landec by 489.6% during the second quarter. Citigroup Inc. now owns 9,840 shares of the basic materials company’s stock worth $146,000 after purchasing an additional 8,171 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Landec by 17.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 182,840 shares of the basic materials company’s stock valued at $2,715,000 after acquiring an additional 26,794 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of Landec by 5.3% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 106,220 shares of the basic materials company’s stock valued at $1,275,000 after acquiring an additional 5,301 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Landec by 21.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 209,579 shares of the basic materials company’s stock valued at $3,113,000 after acquiring an additional 37,603 shares in the last quarter. Finally, Foundry Partners LLC boosted its holdings in shares of Landec by 5.9% during the 3rd quarter. Foundry Partners LLC now owns 437,390 shares of the basic materials company’s stock valued at $5,664,000 after acquiring an additional 24,400 shares in the last quarter. 93.83% of the stock is owned by institutional investors.

COPYRIGHT VIOLATION NOTICE: “Landec (LNDC) Now Covered by Sidoti” was first posted by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another publication, it was stolen and reposted in violation of United States and international copyright legislation. The correct version of this story can be accessed at https://www.americanbankingnews.com/2017/12/13/landec-lndc-now-covered-by-sidoti.html.

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.

The Fly

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.