Landec (NASDAQ:LNDC) updated its FY18 earnings guidance on Wednesday. The company provided earnings per share guidance of $0.52-0.58 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.52. The company issued revenue guidance of +2-4% to ~$542.9-553.6 million, compared to the consensus revenue estimate of $544.38 million.Landec also updated its Q3 guidance to $0.14-0.16 EPS.
Several research firms recently weighed in on LNDC. Wedbush reiterated a hold rating and issued a $13.00 price target on shares of Landec in a report on Thursday, September 28th. Zacks Investment Research cut shares of Landec from a strong-buy rating to a hold rating in a report on Wednesday, October 25th. Maxim Group reiterated a buy rating and issued a $18.00 price target on shares of Landec in a report on Wednesday, November 29th. BidaskClub cut shares of Landec from a sell rating to a strong sell rating in a report on Tuesday, December 5th. Finally, Sidoti began coverage on shares of Landec in a report on Wednesday, December 13th. They issued a buy rating on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $15.33.
Shares of Landec (NASDAQ LNDC) traded down $0.10 during mid-day trading on Wednesday, hitting $12.50. 85,300 shares of the stock were exchanged, compared to its average volume of 129,400. Landec has a 1 year low of $11.20 and a 1 year high of $14.95. The company has a market cap of $346.58, a PE ratio of 35.71 and a beta of 1.22. The company has a current ratio of 1.53, a quick ratio of 1.04 and a debt-to-equity ratio of 0.19.
In other news, CEO Molly Hemmeter sold 7,399 shares of the business’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $13.06, for a total transaction of $96,630.94. Following the sale, the chief executive officer now owns 53,017 shares in the company, valued at approximately $692,402.02. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 4.62% 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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