Landec (NASDAQ:LNDC) released its quarterly earnings results on Tuesday. The basic materials company reported $0.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.01, Fidelity Earnings reports. Landec had a negative return on equity of 2.21% and a negative net margin of 7.56%.
Shares of Landec stock traded down $0.98 during trading on Thursday, reaching $10.29. 5,935 shares of the company were exchanged, compared to its average volume of 179,578. The business has a 50-day moving average price of $10.73 and a 200-day moving average price of $9.92. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $300.90 million, a price-to-earnings ratio of -6.89, a P/E/G ratio of 11.77 and a beta of 1.05. Landec has a twelve month low of $7.48 and a twelve month high of $11.89.
In other Landec news, Director Nelson Obus bought 10,000 shares of Landec stock in a transaction on Wednesday, October 14th. The shares were purchased at an average cost of $10.30 per share, for a total transaction of $103,000.00. Following the completion of the acquisition, the director now owns 33,915 shares in the company, valued at approximately $349,324.50. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 11.89% of the company’s stock.
LNDC has been the subject of several research reports. ValuEngine cut Landec from a “buy” rating to a “hold” rating in a research note on Tuesday. Zacks Investment Research raised Landec from a “sell” rating to a “hold” rating in a research note on Wednesday, November 18th. Finally, BidaskClub cut Landec from a “buy” rating to a “hold” rating in a research note on Wednesday, December 23rd. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $12.60.
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 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.
Further Reading: Cost of Debt
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