Landec (NASDAQ:LNDC) Announces Quarterly Earnings Results

Landec (NASDAQ:LNDC) posted its quarterly earnings data on Tuesday. The basic materials company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.12), Fidelity Earnings reports. Landec had a negative return on equity of 1.53% and a negative net margin of 6.00%. During the same quarter in the previous year, the business earned ($0.11) EPS.

Shares of LNDC stock traded down $1.07 on Thursday, hitting $9.21. The stock had a trading volume of 4,312 shares, compared to its average volume of 128,367. The company has a quick ratio of 0.77, a current ratio of 1.46 and a debt-to-equity ratio of 0.81. The business has a 50 day moving average price of $10.74 and a 200 day moving average price of $11.20. The company has a market cap of $271.35 million, a PE ratio of -8.11 and a beta of 1.05. Landec has a one year low of $9.19 and a one year high of $12.88.

A hedge fund recently raised its stake in Landec stock. Morgan Stanley lifted its position in Landec Co. (NASDAQ:LNDC) by 134.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,114 shares of the basic materials company’s stock after acquiring an additional 20,117 shares during the quarter. Morgan Stanley owned 0.12% of Landec worth $394,000 as of its most recent SEC filing. Institutional investors and hedge funds own 87.59% of the company’s stock.

LNDC has been the subject of several recent analyst reports. Roth Capital lifted their price objective on shares of Landec from $12.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, July 30th. Barrington Research dropped their price objective on shares of Landec from $14.00 to $12.00 and set an “outperform” rating for the company in a research note on Thursday. Zacks Investment Research downgraded Landec from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, TheStreet upgraded Landec from a “d+” rating to a “c” rating in a research report on Wednesday, July 28th. One analyst has rated the stock with a sell rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $12.75.

About Landec

Landec Corp. engages in the design, development, manufacture, and sale of health and wellness products for food and biomaterials markets. It operates through the following segments: Curation Foods, Lifecore, and Others. The Curation Foods segment includes activities to market and pack specialty packaged whole and fresh-cut fruit and vegetables.

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Earnings History for Landec (NASDAQ:LNDC)

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