Landec (NASDAQ:LNDC) PT Lowered to $12.00 at Lake Street Capital

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Landec (NASDAQ:LNDC) had its price objective lowered by equities research analysts at Lake Street Capital from $13.00 to $12.00 in a note issued to investors on Thursday, The Fly reports. The firm presently has a “buy” rating on the basic materials company’s stock. Lake Street Capital’s price target suggests a potential upside of 9.59% from the company’s current price.

Separately, Zacks Investment Research upgraded Landec from a “sell” rating to a “hold” rating in a research note on Tuesday, March 16th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $13.50.

LNDC opened at $10.95 on Thursday. The stock’s 50 day simple moving average is $11.26 and its 200 day simple moving average is $10.69. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.89 and a quick ratio of 0.48. Landec has a 1 year low of $7.48 and a 1 year high of $12.24. The firm has a market cap of $321.09 million, a price-to-earnings ratio of -6.29, a PEG ratio of 33.84 and a beta of 1.04.

Landec (NASDAQ:LNDC) last posted its quarterly earnings results on Tuesday, April 6th. The basic materials company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.11). Landec had a negative return on equity of 0.04% and a negative net margin of 8.85%. As a group, sell-side analysts anticipate that Landec will post 0.03 EPS for the current year.

In other news, CEO Albert D. Bolles acquired 10,000 shares of Landec stock in a transaction that occurred on Tuesday, January 19th. The stock was bought at an average price of $10.98 per share, for a total transaction of $109,800.00. Following the completion of the transaction, the chief executive officer now owns 36,152 shares in the company, valued at $396,948.96. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Nelson Obus acquired 6,400 shares of Landec stock in a transaction that occurred on Monday, January 11th. The shares were purchased at an average price of $10.81 per share, with a total value of $69,184.00. Following the transaction, the director now owns 36,115 shares of the company’s stock, valued at approximately $390,403.15. The disclosure for this purchase can be found here. Insiders bought 20,400 shares of company stock valued at $224,844 in the last 90 days. Company insiders own 11.89% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in Landec during the fourth quarter valued at about $1,140,000. Hsbc Holdings PLC bought a new position in shares of Landec in the fourth quarter worth about $215,000. JPMorgan Chase & Co. boosted its stake in shares of Landec by 389.6% in the fourth quarter. JPMorgan Chase & Co. now owns 73,929 shares of the basic materials company’s stock worth $803,000 after acquiring an additional 58,829 shares during the period. Cove Street Capital LLC boosted its stake in shares of Landec by 69.6% in the fourth quarter. Cove Street Capital LLC now owns 1,119,405 shares of the basic materials company’s stock worth $12,145,000 after acquiring an additional 459,223 shares during the period. Finally, Squarepoint Ops LLC boosted its stake in shares of Landec by 43.8% in the fourth quarter. Squarepoint Ops LLC now owns 85,470 shares of the basic materials company’s stock worth $927,000 after acquiring an additional 26,025 shares during the period. 88.87% of the stock is owned by institutional investors and hedge funds.

Landec Company Profile

Landec Corporation, together with its subsidiaries, designs, develops, manufactures, and sells differentiated health and wellness products for food and biomaterials markets. It operates through Curation Foods and Lifecore segments. The Curation Foods segment engages in processing, marketing, and selling of vegetable-based salads, and fresh-cut and whole vegetable products primarily under the Eat Smart brand, O branded olive oils and wine vinegars, and Yucatan and Cabo Fresh guacamole and avocado food products, as well as various private labels.

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