Landec (NASDAQ:LNDC) Stock Rating Upgraded by Zacks Investment Research

Landec (NASDAQ:LNDCGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “Landec Corp. engages in designing, developing, manufacturing and selling of products for food and biomaterials markets and license technology applications. Its operating segment consists of Packaged Fresh Vegetables, Food Export and Biomaterials. Packaged Fresh Vegetables segment includes marketing and packing specialty packaged whole and fresh-cut fruit and vegetables. Food Export segment consists of sale of whole commodity fruit and vegetable product. Biomaterials segment sells products utilizing hyaluronan, a naturally occurring polysaccharide which is distributed in the extracellular matrix of connective tissues in both animals and humans. Landec Corp. is headquartered in Menlo Park, CA. “

Other equities research analysts also recently issued research reports about the stock. Barrington Research downgraded shares of Landec from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 6th. StockNews.com initiated coverage on shares of Landec in a research report on Thursday, March 31st. They set a “hold” rating for the company. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $12.67.

Shares of NASDAQ:LNDC opened at $10.00 on Wednesday. Landec has a 52 week low of $7.65 and a 52 week high of $12.88. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.65 and a current ratio of 1.47. The company has a market capitalization of $294.83 million, a PE ratio of -4.65, a PEG ratio of 4.63 and a beta of 1.18. The company has a 50 day moving average price of $9.94 and a two-hundred day moving average price of $10.45.

Landec (NASDAQ:LNDCGet Rating) last issued its earnings results on Tuesday, April 5th. The basic materials company reported ($0.08) EPS for the quarter. Landec had a negative net margin of 14.10% and a negative return on equity of 8.43%. The firm had revenue of $53.07 million during the quarter, compared to the consensus estimate of $48.54 million. On average, sell-side analysts forecast that Landec will post -0.58 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Citigroup Inc. boosted its holdings in Landec by 126.2% during the third quarter. Citigroup Inc. now owns 4,036 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 2,252 shares during the last quarter. Nisa Investment Advisors LLC acquired a new position in Landec during the fourth quarter worth $39,000. Metropolitan Life Insurance Co NY acquired a new position in Landec during the third quarter worth $70,000. BNP Paribas Arbitrage SA boosted its holdings in Landec by 78.0% during the third quarter. BNP Paribas Arbitrage SA now owns 7,676 shares of the basic materials company’s stock worth $71,000 after purchasing an additional 3,363 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new position in Landec during the fourth quarter worth $73,000. Institutional investors and hedge funds own 99.92% of the company’s stock.

About Landec (Get Rating)

Landec Corporation, together with its subsidiaries, engages in the design, development, manufacture, and sale of 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 plant-based salads, and fresh-cut and whole processed vegetables 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 to retail grocery chains, club stores, and food service operators; and sells BreatheWay packaging products.

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