Barrington Research reiterated their in-line rating on shares of Landec (NASDAQ:LNDC) in a report issued on Thursday morning, The Fly reports. The brokerage currently has a $11.00 price objective on the basic materials company’s stock, down from their previous price objective of $13.00.
LNDC has been the topic of several other research reports. BidaskClub lowered Landec from a buy rating to a hold rating in a research note on Thursday, September 19th. DA Davidson assumed coverage on Landec in a research note on Friday, August 23rd. They set a buy rating on the stock. Zacks Investment Research lowered Landec from a hold rating to a sell rating in a research note on Thursday, August 1st. ValuEngine raised Landec from a hold rating to a buy rating in a research note on Tuesday, August 6th. Finally, Maxim Group reissued a buy rating and set a $17.00 target price on shares of Landec in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of Hold and an average target price of $13.00.
Shares of Landec stock traded up $0.01 during trading hours on Thursday, hitting $10.21. The company’s stock had a trading volume of 358,666 shares, compared to its average volume of 134,780. Landec has a twelve month low of $9.02 and a twelve month high of $15.57. The firm has a fifty day moving average of $11.06 and a 200-day moving average of $10.59. The stock has a market cap of $313.61 million, a price-to-earnings ratio of 31.91, a P/E/G ratio of 4.01 and a beta of 0.72. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.58 and a current ratio of 0.97.
In other news, Director Nelson Obus bought 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were purchased at an average price of $10.72 per share, with a total value of $214,400.00. Following the purchase, the director now owns 27,915 shares in the company, valued at $299,248.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 14.99% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC acquired a new stake in Landec in the second quarter valued at approximately $44,000. BNP Paribas Arbitrage SA lifted its stake in Landec by 389.6% in the first quarter. BNP Paribas Arbitrage SA now owns 5,043 shares of the basic materials company’s stock worth $62,000 after acquiring an additional 4,013 shares during the last quarter. Susquehanna International Group LLP purchased a new position in Landec in the second quarter worth approximately $106,000. Citadel Advisors LLC purchased a new position in Landec in the second quarter worth approximately $111,000. Finally, GSA Capital Partners LLP purchased a new position in Landec in the second quarter worth approximately $123,000. 94.36% of the stock is currently owned by hedge funds and other institutional investors.
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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