Landec (NASDAQ:LNDC)‘s stock had its “buy” rating restated by investment analysts at Maxim Group in a research note issued on Wednesday, AnalystRatings.com reports. They presently have a $17.00 price target on the basic materials company’s stock. Maxim Group’s target price points to a potential upside of 55.68% from the company’s previous close.
The analysts wrote, “Market close, LNDC reported F4Q19 (May) revenue and GAAP EPS inline with preannounced guidance. Management introduced better-than-expected FY20 revenue guidance compared to both our estimate and consensus, and GAAP EPS guidance inline with consensus and slightly above our estimate. Management also introduced F1Q20 (Aug) guidance and expects revenue to be $135M – $140M with a GAAP EPS loss of ($0.14) – ($0.16). The conference call is scheduled for tomorrow, 11am ET.””
Other research analysts have also issued reports about the company. BidaskClub upgraded Landec from a “sell” rating to a “hold” rating in a report on Tuesday, July 9th. Roth Capital restated a “neutral” rating and issued a $12.00 price target (down from $16.50) on shares of Landec in a research note on Monday, April 8th. Zacks Investment Research upgraded Landec from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th. Finally, Lake Street Capital cut their price target on Landec from $16.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Landec currently has a consensus rating of “Hold” and an average price target of $13.67.
NASDAQ:LNDC opened at $10.92 on Wednesday. The stock has a market capitalization of $316.05 million, a price-to-earnings ratio of 34.13 and a beta of 0.75. The company has a fifty day moving average of $10.13. Landec has a 12-month low of $9.02 and a 12-month high of $15.57. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.59 and a current ratio of 0.96.
Institutional investors have recently bought and sold shares of the business. Granite Investment Partners LLC raised its stake in Landec by 35.7% in the first quarter. Granite Investment Partners LLC now owns 59,219 shares of the basic materials company’s stock valued at $727,000 after buying an additional 15,572 shares in the last quarter. Citigroup Inc. increased its position in shares of Landec by 16.7% during the fourth 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 in the last quarter. BlackRock Inc. increased its position in shares of Landec by 2.3% during the fourth quarter. BlackRock Inc. now owns 2,048,555 shares of the basic materials company’s stock worth $24,253,000 after purchasing an additional 46,011 shares in the last quarter. John G Ullman & Associates Inc. increased its position in shares of Landec by 6.8% during the first quarter. John G Ullman & Associates Inc. now owns 353,525 shares of the basic materials company’s stock worth $4,341,000 after purchasing an additional 22,416 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Landec by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 278,111 shares of the basic materials company’s stock valued at $3,292,000 after acquiring an additional 14,642 shares during the period. Institutional investors own 90.15% of the company’s stock.
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 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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