Landec (NASDAQ:LNDC) had its price target hoisted by equities research analysts at Lake Street Capital from $10.00 to $11.00 in a research note issued to investors on Tuesday, The Fly reports. The firm presently has a “buy” rating on the basic materials company’s stock. Lake Street Capital’s price objective points to a potential upside of 35.97% from the company’s previous close.
Several other research analysts also recently issued reports on the company. ValuEngine downgraded Landec from a “buy” rating to a “hold” rating in a report on Tuesday, April 7th. Roth Capital raised Landec from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $11.00 to $15.00 in a report on Tuesday, April 21st. Maxim Group reaffirmed a “buy” rating and set a $15.00 price objective on shares of Landec in a report on Thursday, April 2nd. Zacks Investment Research downgraded Landec from a “buy” rating to a “hold” rating in a research note on Wednesday, June 24th. Finally, BidaskClub downgraded Landec from a “hold” rating to a “sell” rating in a research note on Friday, June 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. Landec currently has a consensus rating of “Hold” and an average target price of $12.60.
LNDC traded down $1.71 on Tuesday, hitting $8.09. 2,901 shares of the stock traded hands, compared to its average volume of 144,068. Landec has a 52 week low of $7.53 and a 52 week high of $12.46. The firm has a market capitalization of $280.73 million, a PE ratio of -10.24, a P/E/G ratio of 2.47 and a beta of 0.98. The business has a fifty day moving average price of $10.41 and a two-hundred day moving average price of $10.52. The company has a current ratio of 0.94, a quick ratio of 0.52 and a debt-to-equity ratio of 0.53.
In related news, Director Nelson Obus purchased 5,000 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were purchased at an average cost of $10.80 per share, for a total transaction of $54,000.00. Following the completion of the acquisition, the director now owns 27,915 shares in the company, valued at approximately $301,482. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 14.99% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Bank of Montreal Can lifted its position in shares of Landec by 52.4% during the fourth quarter. Bank of Montreal Can now owns 3,263 shares of the basic materials company’s stock valued at $37,000 after buying an additional 1,122 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Landec by 559.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,174 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 3,541 shares during the last quarter. Citigroup Inc. raised its position in shares of Landec by 48.6% in the 1st quarter. Citigroup Inc. now owns 7,842 shares of the basic materials company’s stock valued at $68,000 after purchasing an additional 2,563 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in Landec by 26.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 8,011 shares of the basic materials company’s stock worth $70,000 after buying an additional 1,668 shares during the last quarter. Finally, Poplar Forest Capital LLC purchased a new position in Landec during the 1st quarter worth approximately $95,000. Institutional investors own 92.77% of the company’s stock.
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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