Analysts Set Landec Co. (LNDC) Price Target at $17.50

Shares of Landec Co. (NASDAQ:LNDC) have earned a consensus rating of “Hold” from the six ratings firms that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $17.50.

A number of research analysts recently issued reports on LNDC shares. Zacks Investment Research lowered shares of Landec from a “hold” rating to a “sell” rating in a report on Thursday, October 18th. BidaskClub upgraded shares of Landec from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Finally, Maxim Group reiterated a “buy” rating and issued a $17.00 price objective (down previously from $20.00) on shares of Landec in a report on Thursday, January 3rd.

NASDAQ LNDC traded down $0.35 during trading hours on Friday, reaching $12.06. The company’s stock had a trading volume of 4,160 shares, compared to its average volume of 105,026. The firm has a market cap of $359.96 million, a PE ratio of 29.49 and a beta of 0.90. Landec has a 52 week low of $10.17 and a 52 week high of $15.60. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.95 and a quick ratio of 0.63.

In other news, Director Nelson Obus purchased 12,900 shares of the stock in a transaction on Friday, February 8th. The stock was purchased at an average price of $12.12 per share, for a total transaction of $156,348.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Steven D. Goldby purchased 20,000 shares of the stock in a transaction on Tuesday, January 8th. The shares were purchased at an average price of $11.24 per share, with a total value of $224,800.00. Following the acquisition, the director now owns 66,490 shares in the company, valued at approximately $747,347.60. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 78,900 shares of company stock valued at $921,228. Company insiders own 15.04% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Citigroup Inc. raised its holdings in Landec by 16.7% during the 4th quarter. Citigroup Inc. now owns 8,726 shares of the basic materials company’s stock worth $103,000 after purchasing an additional 1,246 shares during the last quarter. Citadel Advisors LLC acquired a new stake in shares of Landec during the 3rd quarter worth approximately $205,000. First Interstate Bank grew its position in shares of Landec by 10.9% during the 4th quarter. First Interstate Bank now owns 17,845 shares of the basic materials company’s stock worth $211,000 after buying an additional 1,750 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Landec during the 2nd quarter worth approximately $295,000. Finally, MetLife Investment Advisors LLC grew its position in shares of Landec by 55.0% during the 3rd quarter. MetLife Investment Advisors LLC now owns 21,719 shares of the basic materials company’s stock worth $313,000 after buying an additional 7,709 shares during the period. Hedge funds and other institutional investors own 86.58% 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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