Equities research analysts predict that Landec Co. (NASDAQ:LNDC) will post sales of $127.86 million for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Landec’s earnings, with the highest sales estimate coming in at $133.97 million and the lowest estimate coming in at $121.30 million. Landec posted sales of $138.71 million during the same quarter last year, which would indicate a negative year over year growth rate of 7.8%. The firm is expected to report its next quarterly earnings report after the market closes on Tuesday, October 6th.
On average, analysts expect that Landec will report full year sales of $541.14 million for the current fiscal year, with estimates ranging from $531.90 million to $549.91 million. For the next year, analysts forecast that the firm will post sales of $562.92 million, with estimates ranging from $551.50 million to $570.30 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Landec.
Landec (NASDAQ:LNDC) last released its quarterly earnings results on Tuesday, August 11th. The basic materials company reported $0.05 EPS for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.02. Landec had a negative net margin of 6.47% and a negative return on equity of 2.78%.
A number of research firms have recently commented on LNDC. ValuEngine raised shares of Landec from a “hold” rating to a “buy” rating in a research report on Friday, July 3rd. Lake Street Capital lifted their price target on shares of Landec from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Tuesday, June 30th. BidaskClub lowered shares of Landec from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Maxim Group reaffirmed a “buy” rating and set a $15.00 target price on shares of Landec in a research report on Wednesday, July 1st. Finally, Barrington Research reaffirmed a “hold” rating on shares of Landec in a research report on Wednesday, August 12th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. Landec presently has an average rating of “Buy” and a consensus price target of $12.60.
NASDAQ:LNDC opened at $9.82 on Thursday. Landec has a 12 month low of $7.48 and a 12 month high of $12.41. The firm has a market cap of $287.16 million, a price-to-earnings ratio of -7.55, a P/E/G ratio of 5.53 and a beta of 1.09. The company has a quick ratio of 0.55, a current ratio of 0.96 and a debt-to-equity ratio of 0.44. The company’s 50 day moving average is $9.97 and its 200-day moving average is $9.81.
A number of hedge funds have recently made changes to their positions in LNDC. Legion Partners Asset Management LLC increased its position in Landec by 102.5% during the first quarter. Legion Partners Asset Management LLC now owns 2,381,493 shares of the basic materials company’s stock worth $20,695,000 after acquiring an additional 1,205,388 shares during the period. Russell Investments Group Ltd. increased its position in Landec by 8.0% during the second quarter. Russell Investments Group Ltd. now owns 3,033,582 shares of the basic materials company’s stock worth $24,169,000 after acquiring an additional 225,553 shares during the period. Goldman Sachs Group Inc. increased its holdings in Landec by 67.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 199,838 shares of the basic materials company’s stock valued at $1,590,000 after buying an additional 80,705 shares during the period. Pacific Ridge Capital Partners LLC increased its holdings in Landec by 14.1% in the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 615,390 shares of the basic materials company’s stock valued at $4,899,000 after buying an additional 75,827 shares during the period. Finally, Invesco Ltd. bought a new stake in Landec in the 1st quarter valued at $509,000. 91.57% of the stock is currently owned by institutional investors and hedge funds.
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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