Landec (LNDC) Rating Lowered to Sell at Zacks Investment Research

Landec (NASDAQ:LNDC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday.

According to Zacks, “Landec Corp. engages in designing, developing, manufacturing and selling of products for food and biomaterials markets and license technology applications. Its operating segment consists of Packaged Fresh Vegetables, Food Export and Biomaterials. Packaged Fresh Vegetables segment includes marketing and packing specialty packaged whole and fresh-cut fruit and vegetables. Food Export segment consists of sale of whole commodity fruit and vegetable product. Biomaterials segment sells products utilizing hyaluronan, a naturally occurring polysaccharide which is distributed in the extracellular matrix of connective tissues in both animals and humans. Landec Corp. is headquartered in Menlo Park, CA. “

Several other analysts have also recently commented on LNDC. Maxim Group restated a “buy” rating and issued a $18.00 target price on shares of Landec in a research report on Wednesday, August 1st. ValuEngine cut Landec from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. BidaskClub cut Landec from a “sell” rating to a “strong sell” rating in a research report on Friday, August 3rd. TheStreet cut Landec from a “b-” rating to a “c+” rating in a research report on Friday, September 7th. Finally, Roth Capital initiated coverage on Landec in a research report on Tuesday, September 25th. They issued a “buy” rating and a $18.00 target price on the stock. One analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Landec presently has a consensus rating of “Buy” and a consensus target price of $18.00.

LNDC opened at $15.41 on Thursday. Landec has a 12 month low of $11.60 and a 12 month high of $15.60. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.67 and a current ratio of 1.02. The company has a market capitalization of $420.40 million, a P/E ratio of 42.08 and a beta of 0.65.

Landec (NASDAQ:LNDC) last posted its earnings results on Tuesday, October 2nd. The basic materials company reported $0.01 EPS for the quarter. Landec had a return on equity of 3.95% and a net margin of 4.15%. The firm had revenue of $124.70 million for the quarter, compared to analysts’ expectations of $123.94 million. During the same period last year, the firm earned $0.08 EPS. The firm’s revenue was up 7.7% compared to the same quarter last year. As a group, research analysts expect that Landec will post 0.42 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of LNDC. Walthausen & Co. LLC acquired a new position in shares of Landec during the 3rd quarter valued at $11,518,000. Investment Counselors of Maryland LLC increased its position in shares of Landec by 57.8% during the 2nd quarter. Investment Counselors of Maryland LLC now owns 594,578 shares of the basic materials company’s stock valued at $8,859,000 after purchasing an additional 217,824 shares during the period. Northpointe Capital LLC increased its position in shares of Landec by 62.3% during the 3rd quarter. Northpointe Capital LLC now owns 320,677 shares of the basic materials company’s stock valued at $4,618,000 after purchasing an additional 123,111 shares during the period. Royce & Associates LP increased its position in shares of Landec by 9.4% during the 3rd quarter. Royce & Associates LP now owns 1,393,764 shares of the basic materials company’s stock valued at $20,070,000 after purchasing an additional 119,356 shares during the period. Finally, BlackRock Inc. increased its position in shares of Landec by 5.0% during the 2nd quarter. BlackRock Inc. now owns 1,950,345 shares of the basic materials company’s stock valued at $29,061,000 after purchasing an additional 92,444 shares during the period. Institutional investors own 93.14% of the company’s stock.

About Landec

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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