Landec (NASDAQ:LNDC) Receives “Buy” Rating from Maxim Group

Landec (NASDAQ:LNDC)‘s stock had its “buy” rating reiterated by Maxim Group in a research report issued on Thursday, January 3rd, Marketbeat Ratings reports. They currently have a $17.00 target price on the basic materials company’s stock, down from their previous target price of $20.00. Maxim Group’s price target indicates a potential upside of 45.67% from the company’s current price.

The analysts wrote, “Market close, LNDC reported slightly lower-than-expected F2Q19 (Nov) revenue and a relatively inline GAAP loss per share. The company significantly reduced its FY19 (May) revenue and EPS guidance for the base business (ex. Yucatan Foods, acquired on 12/1/2018). The conference call is scheduled for tomorrow at 11am ET.””

A number of other research analysts also recently issued reports on LNDC. Roth Capital started coverage on shares of Landec in a research report on Tuesday, September 25th. They set a “buy” rating and a $18.00 target price on the stock. ValuEngine upgraded shares of Landec from a “hold” rating to a “buy” rating in a research report on Wednesday, September 26th. BidaskClub cut Landec from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 7th. Zacks Investment Research cut Landec from a “hold” rating to a “sell” rating in a research note on Thursday, November 29th. Finally, TheStreet cut shares of Landec from a “b-” rating to a “c+” rating in a research note on Friday, September 7th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $17.50.

Shares of NASDAQ LNDC opened at $11.67 on Thursday. The stock has a market cap of $327.87 million, a P/E ratio of 28.46 and a beta of 0.96. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.67 and a current ratio of 0.95. Landec has a 12-month low of $10.17 and a 12-month high of $15.60.

In related news, Director Steven D. Goldby acquired 20,000 shares of the business’s stock in a transaction dated Tuesday, January 8th. The stock was bought at an average price of $11.24 per share, with a total value of $224,800.00. Following the acquisition, the director now owns 66,490 shares in the company, valued at approximately $747,347.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gregory S. Skinner acquired 25,000 shares of the business’s stock in a transaction dated Tuesday, January 8th. The stock was bought at an average cost of $11.25 per share, with a total value of $281,250.00. Following the acquisition, the chief financial officer now owns 288,036 shares in the company, valued at approximately $3,240,405. The disclosure for this purchase can be found here. Insiders have bought a total of 46,000 shares of company stock valued at $517,280 over the last ninety days. Company insiders own 15.04% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. NWQ Investment Management Company LLC lifted its holdings in Landec by 1.2% during the 3rd quarter. NWQ Investment Management Company LLC now owns 3,496,105 shares of the basic materials company’s stock valued at $47,617,000 after purchasing an additional 39,835 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Landec by 0.7% during the third quarter. Dimensional Fund Advisors LP now owns 2,332,179 shares of the basic materials company’s stock worth $33,583,000 after buying an additional 17,353 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Landec by 2.7% during the third quarter. BlackRock Inc. now owns 2,002,544 shares of the basic materials company’s stock worth $28,836,000 after buying an additional 52,199 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Landec by 4.3% during the third quarter. Vanguard Group Inc. now owns 1,535,517 shares of the basic materials company’s stock worth $22,112,000 after buying an additional 63,494 shares in the last quarter. Finally, Vanguard Group Inc lifted its holdings in shares of Landec by 4.3% during the third quarter. Vanguard Group Inc now owns 1,535,517 shares of the basic materials company’s stock worth $22,112,000 after buying an additional 63,494 shares in the last quarter. 92.55% of the stock is owned by institutional investors.

About Landec

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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