Landec (NASDAQ:LNDC) updated its fourth quarter earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $0.01-0.06 for the period, compared to the Thomson Reuters consensus estimate of $0.24. The company issued revenue guidance of approx $156.1 million, compared to the consensus revenue estimate of $150.69 million.Landec also updated its Q4 2020
After-Hours guidance to 0.01-0.06 EPS.
A number of research firms recently weighed in on LNDC. Barrington Research raised shares of Landec from a market perform rating to an outperform rating and set a $10.00 target price for the company in a report on Wednesday, April 1st. Lake Street Capital dropped their price objective on shares of Landec from $14.00 to $10.00 and set a buy rating for the company in a research note on Monday, March 30th. Maxim Group reaffirmed a buy rating and set a $15.00 price objective on shares of Landec in a research note on Thursday, April 2nd. Zacks Investment Research lowered shares of Landec from a buy rating to a hold rating in a research note on Wednesday, June 24th. Finally, BidaskClub lowered shares of Landec from a hold rating to a sell rating in a research note on Friday, June 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $12.40.
Shares of LNDC stock traded up $0.18 on Monday, hitting $9.80. The stock had a trading volume of 319,125 shares, compared to its average volume of 174,694. The company has a quick ratio of 0.52, a current ratio of 0.94 and a debt-to-equity ratio of 0.53. The business has a 50 day moving average price of $10.41 and a 200 day moving average price of $10.52. The company has a market cap of $280.73 million, a PE ratio of -12.41, a P/E/G ratio of 2.47 and a beta of 0.98. Landec has a one year low of $7.53 and a one year high of $12.46.
In other news, Director Nelson Obus bought 5,000 shares of Landec stock in a transaction on Monday, May 11th. The stock was acquired at an average cost of $10.80 per share, for a total transaction of $54,000.00. Following the completion of the acquisition, the director now owns 27,915 shares of the company’s stock, valued at approximately $301,482. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 14.99% of the company’s stock.
Landec Corporation, together with its subsidiaries, designs, develops, manufactures, and sells differentiated health and wellness products for food and biomaterials markets. It operates through Curation Foods and Lifecore segments. The Curation Foods segment engages in processing, marketing, and selling of vegetable-based salads, and fresh-cut and whole vegetable products primarily under the Eat Smart brand, O branded olive oils and wine vinegars, and Yucatan and Cabo Fresh guacamole and avocado food products, as well as various private labels.
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