BidaskClub Downgrades Landec (LNDC) to Strong Sell

Landec (NASDAQ:LNDC) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday.

A number of other research analysts have also weighed in on LNDC. Maxim Group reissued a “buy” rating and issued a $18.00 target price on shares of Landec in a report on Wednesday, November 29th. Wedbush reissued a “hold” rating and issued a $13.00 target price on shares of Landec in a report on Thursday, September 28th. Finally, Zacks Investment Research raised shares of Landec from a “sell” rating to a “hold” rating and set a $15.00 target price for the company in a report on Wednesday, September 27th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $15.33.

Landec (NASDAQ LNDC) opened at $12.10 on Tuesday. Landec has a fifty-two week low of $11.20 and a fifty-two week high of $15.50. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.53 and a quick ratio of 1.04. The firm has a market cap of $332.83, a price-to-earnings ratio of 34.57 and a beta of 1.23.

Landec (NASDAQ:LNDC) last posted its earnings results on Tuesday, September 26th. The basic materials company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. Landec had a net margin of 1.80% and a return on equity of 4.17%. The firm had revenue of $123.40 million during the quarter, compared to analyst estimates of $123.00 million. During the same period last year, the firm posted $0.12 earnings per share. Landec’s revenue for the quarter was down 6.8% compared to the same quarter last year. research analysts predict that Landec will post 0.54 EPS for the current year.

In other Landec news, CEO Molly Hemmeter sold 7,399 shares of Landec stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $13.06, for a total transaction of $96,630.94. Following the completion of the transaction, the chief executive officer now directly owns 53,017 shares of the company’s stock, valued at $692,402.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.62% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of LNDC. Dynamic Technology Lab Private Ltd purchased a new position in Landec during the third quarter worth $141,000. Citigroup Inc. boosted its stake in Landec by 489.6% during the second quarter. Citigroup Inc. now owns 9,840 shares of the basic materials company’s stock worth $146,000 after buying an additional 8,171 shares during the period. Acrospire Investment Management LLC boosted its stake in Landec by 185.8% during the second quarter. Acrospire Investment Management LLC now owns 10,722 shares of the basic materials company’s stock worth $159,000 after buying an additional 6,971 shares during the period. Eagle Global Advisors LLC purchased a new position in Landec during the second quarter worth $161,000. Finally, Trexquant Investment LP purchased a new position in Landec during the second quarter worth $167,000. 93.83% of the stock is owned by institutional investors.

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About Landec

Landec Corporation designs, develops, manufactures and sells a range of health and wellness products for food and biomaterials markets. The Company licenses technology applications to partners. The Company operates through three segments: Packaged Fresh Vegetables, Food Export and Biomaterials. The Packaged Fresh Vegetables segment markets and packs specialty packaged whole and fresh-cut fruit and vegetables, the majority of which incorporate the BreatheWay specialty packaging for the retail grocery, club store and food services industry.

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