Wedbush Reiterates Hold Rating for Landec Corporation (LNDC)

Landec Corporation (NASDAQ:LNDC)‘s stock had its “hold” rating reaffirmed by equities researchers at Wedbush in a research report issued to clients and investors on Thursday. They presently have a $13.00 price target on the basic materials company’s stock. Wedbush’s price objective would indicate a potential upside of 0.39% from the stock’s previous close.

Several other analysts also recently weighed in on the company. Zacks Investment Research downgraded Landec Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. BidaskClub downgraded Landec Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. TheStreet downgraded Landec Corporation from a “b” rating to a “c+” rating in a research note on Monday, July 31st. Finally, Maxim Group reiterated a “buy” rating and set a $18.00 price target on shares of Landec Corporation in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Landec Corporation presently has an average rating of “Hold” and an average target price of $15.67.

Landec Corporation (NASDAQ:LNDC) opened at 12.95 on Thursday. The firm has a 50-day moving average price of $12.84 and a 200-day moving average price of $13.41. Landec Corporation has a 12-month low of $11.20 and a 12-month high of $15.50. The company has a market cap of $356.20 million, a P/E ratio of 34.08 and a beta of 1.34.

Landec Corporation (NASDAQ:LNDC) last posted its quarterly earnings results on Tuesday, September 26th. The basic materials company reported $0.08 earnings per share for the quarter, beating the Thomson Reuters’ 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 Corporation had a return on equity of 4.21% and a net margin of 1.80%. The company’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.12 EPS. On average, analysts forecast that Landec Corporation will post $0.55 earnings per share for the current fiscal year.

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Several institutional investors and hedge funds have recently modified their holdings of the company. The Manufacturers Life Insurance Company boosted its stake in shares of Landec Corporation by 0.5% in the second quarter. The Manufacturers Life Insurance Company now owns 22,688 shares of the basic materials company’s stock worth $336,000 after buying an additional 110 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Landec Corporation by 0.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 106,809 shares of the basic materials company’s stock worth $1,587,000 after buying an additional 589 shares during the last quarter. TIAA CREF Investment Management LLC boosted its stake in shares of Landec Corporation by 1.0% in the second quarter. TIAA CREF Investment Management LLC now owns 75,251 shares of the basic materials company’s stock worth $1,117,000 after buying an additional 745 shares during the last quarter. Crestwood Advisors Group LLC boosted its stake in shares of Landec Corporation by 6.1% in the second quarter. Crestwood Advisors Group LLC now owns 15,588 shares of the basic materials company’s stock worth $203,000 after buying an additional 900 shares during the last quarter. Finally, American International Group Inc. boosted its stake in shares of Landec Corporation by 7.2% in the first quarter. American International Group Inc. now owns 16,486 shares of the basic materials company’s stock worth $198,000 after buying an additional 1,102 shares during the last quarter. Hedge funds and other institutional investors own 92.07% of the company’s stock.

About Landec Corporation

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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