Landec (NASDAQ:LNDC) Announces Earnings Results

Landec (NASDAQ:LNDC) announced its quarterly earnings data on Thursday. The basic materials company reported ($0.16) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.10), Bloomberg Earnings reports. The business had revenue of $142.60 million during the quarter, compared to analysts’ expectations of $142.53 million. The business’s revenue was up 14.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.02) EPS.

Shares of NASDAQ:LNDC traded down $0.14 during midday trading on Thursday, hitting $11.17. The company had a trading volume of 277,644 shares, compared to its average volume of 89,031. Landec has a 12 month low of $9.00 and a 12 month high of $13.24. The company has a current ratio of 0.89, a quick ratio of 0.51 and a debt-to-equity ratio of 0.43. The stock has a market cap of $325.63 million, a price-to-earnings ratio of 34.91, a PEG ratio of 4.43 and a beta of 0.75. The firm has a fifty day simple moving average of $11.33 and a 200 day simple moving average of $10.66.

In related news, CEO Albert D. Bolles purchased 3,800 shares of Landec stock in a transaction dated Tuesday, November 5th. The shares were acquired at an average cost of $10.69 per share, for a total transaction of $40,622.00. Following the transaction, the chief executive officer now directly owns 25,302 shares of the company’s stock, valued at $270,478.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Nelson Obus purchased 10,000 shares of Landec stock in a transaction dated Tuesday, November 5th. The stock was bought at an average price of $10.38 per share, for a total transaction of $103,800.00. Following the completion of the transaction, the director now directly owns 27,915 shares in the company, valued at $289,757.70. The disclosure for this purchase can be found here. Insiders bought a total of 43,900 shares of company stock worth $444,496 over the last 90 days. 14.99% of the stock is owned by corporate insiders.

LNDC has been the topic of a number of recent research reports. Barrington Research reiterated an “in-line” rating and issued a $11.00 price objective (down from $13.00) on shares of Landec in a research report on Thursday, October 3rd. BidaskClub lowered Landec from a “buy” rating to a “hold” rating in a research report on Saturday, December 7th. Zacks Investment Research lowered Landec from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Maxim Group reiterated a “buy” rating and issued a $17.00 price objective on shares of Landec in a research report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Landec presently has a consensus rating of “Buy” and an average price target of $12.80.

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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Earnings History for Landec (NASDAQ:LNDC)

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