Landec (NASDAQ:LNDC) Stock Rating Upgraded by Zacks Investment Research

Landec (NASDAQ:LNDC – Get Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Landec Corp. engages in designing, developing, manufacturing and selling of products for food and biomaterials markets and license technology applications. Its operating segment consists of Packaged Fresh Vegetables, Food Export and Biomaterials. Packaged Fresh Vegetables segment includes marketing and packing specialty packaged whole and fresh-cut fruit and vegetables. Food Export segment consists of sale of whole commodity fruit and vegetable product. Biomaterials segment sells products utilizing hyaluronan, a naturally occurring polysaccharide which is distributed in the extracellular matrix of connective tissues in both animals and humans. Landec Corp. is headquartered in Menlo Park, CA. “

Other research analysts also recently issued research reports about the stock. Barrington Research downgraded shares of Landec from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 6th. StockNews.com began coverage on shares of Landec in a report on Thursday, March 31st. They set a “hold” rating on the stock. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $12.67.

Shares of LNDC opened at $10.00 on Wednesday. The company has a market capitalization of $294.83 million, a PE ratio of -4.65, a price-to-earnings-growth ratio of 4.63 and a beta of 1.18. Landec has a one year low of $7.65 and a one year high of $12.88. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.47 and a quick ratio of 0.65. The company’s fifty day moving average price is $9.94 and its 200 day moving average price is $10.45.

Landec (NASDAQ:LNDC – Get Rating) last announced its earnings results on Tuesday, April 5th. The basic materials company reported ($0.08) EPS for the quarter. The firm had revenue of $53.07 million during the quarter, compared to the consensus estimate of $48.54 million. Landec had a negative return on equity of 8.43% and a negative net margin of 14.10%. Analysts anticipate that Landec will post -0.58 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of LNDC. Morgan Stanley increased its stake in Landec by 1,583.7% in the third quarter. Morgan Stanley now owns 591,205 shares of the basic materials company’s stock valued at $5,451,000 after acquiring an additional 556,091 shares during the period. Assenagon Asset Management S.A. increased its stake in Landec by 2,807.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 454,990 shares of the basic materials company’s stock valued at $5,050,000 after acquiring an additional 439,339 shares during the period. Wynnefield Capital Inc. increased its stake in Landec by 12.3% in the first quarter. Wynnefield Capital Inc. now owns 3,533,287 shares of the basic materials company’s stock valued at $40,915,000 after acquiring an additional 387,400 shares during the period. Iszo Capital Management LP increased its stake in Landec by 13.1% in the first quarter. Iszo Capital Management LP now owns 2,176,949 shares of the basic materials company’s stock valued at $6,927,000 after acquiring an additional 251,638 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in Landec in the fourth quarter valued at about $1,965,000. 99.92% of the stock is currently owned by institutional investors and hedge funds.

Landec Company Profile (Get Rating)

Landec Corporation, together with its subsidiaries, engages in the design, development, manufacture, and sale of 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 plant-based salads, and fresh-cut and whole processed vegetables 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 to retail grocery chains, club stores, and food service operators; and sells BreatheWay packaging products.

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