Landec Corp. (NASDAQ:LNDC) – Research analysts at Roth Capital lowered their Q3 2017 earnings estimates for shares of Landec Corp. in a report released on Thursday. Roth Capital analyst A. Brenner now forecasts that the brokerage will post earnings per share of $0.20 for the quarter, down from their prior estimate of $0.21.
A number of other equities analysts have also weighed in on LNDC. Zacks Investment Research lowered Landec Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, July 28th. Wedbush began coverage on Landec Corp. in a research report on Thursday, July 7th. They set a “neutral” rating and a $12.00 target price on the stock. Finally, Maxim Group began coverage on Landec Corp. in a research report on Tuesday, June 7th. They set a “buy” rating and a $16.00 target price on the stock. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $14.32.
Landec Corp. (NASDAQ:LNDC) traded up 0.30% during midday trading on Friday, hitting $13.47. The stock had a trading volume of 65,551 shares. The company has a 50-day moving average price of $12.68 and a 200-day moving average price of $11.45. The stock’s market cap is $370.69 million. Landec Corp. has a 52 week low of $9.48 and a 52 week high of $13.56.
Landec Corp. (NASDAQ:LNDC) last posted its earnings results on Tuesday, September 27th. The company reported $0.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.02. Landec Corp. had a positive return on equity of 4.75% and a negative net margin of 2.10%. The company earned $132.40 million during the quarter. During the same period in the prior year, the business posted $0.11 EPS. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year.
In related news, COO Ronald Lane Midyett sold 7,000 shares of the company’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $12.02, for a total transaction of $84,140.00. Following the completion of the sale, the chief operating officer now owns 111,169 shares in the company, valued at $1,336,251.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gary T. Steele sold 34,484 shares of the company’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $12.47, for a total value of $430,015.48. The disclosure for this sale can be found here. Corporate insiders own 4.89% of the company’s stock.
A number of large investors have recently made changes to their positions in LNDC. Nomura Holdings Inc. bought a new stake in shares of Landec Corp. during the second quarter valued at about $161,000. Highbridge Capital Management LLC acquired a new position in shares of Landec Corp. during the second quarter worth about $197,000. Teachers Advisors Inc. increased its position in shares of Landec Corp. by 7.3% in the second quarter. Teachers Advisors Inc. now owns 45,646 shares of the company’s stock worth $491,000 after buying an additional 3,111 shares during the period. Franklin Resources Inc. increased its position in shares of Landec Corp. by 33.0% in the second quarter. Franklin Resources Inc. now owns 2,847,200 shares of the company’s stock worth $30,636,000 after buying an additional 706,400 shares during the period. Finally, BlackRock Fund Advisors increased its position in shares of Landec Corp. by 0.7% in the second quarter. BlackRock Fund Advisors now owns 694,041 shares of the company’s stock worth $7,468,000 after buying an additional 4,878 shares during the period. Institutional investors and hedge funds own 94.83% of the company’s stock.
Landec Corp. Company Profile
Landec Corporation designs, develops, manufactures and sells differentiated products for food and biomaterials markets and licenses technology applications to partners. The Company’s segments include Food Products Technology, Food Export and Hyaluronan-based Biomaterials. The Company’s Food Products Technology segment markets and packs specialty packaged whole and fresh-cut fruit and vegetables.
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