Landec Co. (NASDAQ:LNDC) has earned an average rating of “Buy” from the eight research firms that are currently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $12.80.
A number of brokerages recently commented on LNDC. DA Davidson began coverage on Landec in a research note on Friday, August 23rd. They set a “buy” rating for the company. BidaskClub cut Landec from a “buy” rating to a “hold” rating in a research note on Saturday. Barrington Research reaffirmed an “in-line” rating and set a $11.00 price objective (down from $13.00) on shares of Landec in a research note on Thursday, October 3rd. Zacks Investment Research raised Landec from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Tuesday. Finally, Maxim Group reaffirmed a “buy” rating and set a $17.00 price objective on shares of Landec in a research note on Friday, November 1st.
Shares of LNDC stock traded down $0.15 on Thursday, reaching $11.18. 45,699 shares of the stock were exchanged, compared to its average volume of 129,234. The stock has a market cap of $323.88 million, a PE ratio of 34.94, a P/E/G ratio of 4.41 and a beta of 0.75. Landec has a one year low of $9.00 and a one year high of $14.20. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.89 and a quick ratio of 0.51. The stock has a 50 day moving average price of $10.67 and a 200 day moving average price of $10.45.
In other Landec news, Director Nelson Obus bought 10,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was purchased at an average cost of $10.38 per share, with a total value of $103,800.00. Following the completion of the purchase, the director now owns 27,915 shares in the company, valued at $289,757.70. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Albert D. Bolles bought 3,800 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was acquired at an average cost of $10.69 per share, with a total value of $40,622.00. Following the completion of the purchase, the chief executive officer now owns 25,302 shares of the company’s stock, valued at approximately $270,478.38. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 43,900 shares of company stock valued at $444,496. 14.99% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of LNDC. First Trust Advisors LP grew its stake in Landec by 6.3% in the first quarter. First Trust Advisors LP now owns 53,174 shares of the basic materials company’s stock valued at $653,000 after acquiring an additional 3,150 shares during the period. AltraVue Capital LLC grew its stake in Landec by 15.8% in the second quarter. AltraVue Capital LLC now owns 567,045 shares of the basic materials company’s stock valued at $5,313,000 after acquiring an additional 77,470 shares during the period. Cutter & CO Brokerage Inc. acquired a new position in Landec in the second quarter valued at about $306,000. Tocqueville Asset Management L.P. acquired a new position in Landec in the second quarter valued at about $1,063,000. Finally, Swiss National Bank grew its stake in Landec by 7.5% in the second quarter. Swiss National Bank now owns 48,800 shares of the basic materials company’s stock valued at $457,000 after acquiring an additional 3,400 shares during the period. 90.94% of the stock is owned by hedge funds and other institutional investors.
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 two segments, Packaged Fresh Vegetables and Biomaterials. The Packaged Fresh Vegetables segment markets and packs specialty packaged whole and fresh-cut fruits and vegetables utilizing the BreatheWay specialty packaging technology for the retail grocery, club store, and food service industries under the Eat Smart and GreenLine brands, as well as private label brands; and sells BreatheWay packaging technology to partners for fruit and vegetable products.
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