Shares of Landec Co. (NASDAQ:LNDC) have been assigned an average recommendation of “Buy” from the eight ratings firms that are currently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $13.00.
A number of research analysts have issued reports on LNDC shares. Barrington Research reaffirmed an “in-line” rating and issued a $11.00 price target (down previously from $13.00) on shares of Landec in a report on Thursday, October 3rd. Maxim Group reissued a “buy” rating and set a $17.00 price objective on shares of Landec in a report on Friday, November 1st. BidaskClub downgraded Landec from a “buy” rating to a “hold” rating in a research report on Saturday. Zacks Investment Research raised Landec from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 13th. Finally, DA Davidson assumed coverage on Landec in a research note on Friday, August 23rd. They issued a “buy” rating for the company.
Shares of Landec stock opened at $11.11 on Thursday. The company has a quick ratio of 0.51, a current ratio of 0.89 and a debt-to-equity ratio of 0.43. The company has a 50 day moving average price of $10.52 and a 200 day moving average price of $10.42. Landec has a 52 week low of $9.00 and a 52 week high of $14.68.
In other Landec news, CEO Albert D. Bolles acquired 3,800 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were purchased at an average price of $10.69 per share, for a total transaction of $40,622.00. Following the completion of the purchase, the chief executive officer now directly owns 25,302 shares of the company’s stock, valued at $270,478.38. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Nelson Obus bought 10,000 shares of Landec stock in a transaction that occurred on Tuesday, November 5th. The shares were acquired at an average cost of $10.38 per share, with a total value of $103,800.00. Following the acquisition, the director now owns 27,915 shares of the company’s stock, valued at $289,757.70. The disclosure for this purchase can be found here. Insiders have purchased 43,900 shares of company stock valued at $444,496 in the last ninety days. Corporate insiders own 14.99% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Wynnefield Capital Inc. grew its position in Landec by 2.2% during the 2nd quarter. Wynnefield Capital Inc. now owns 2,795,300 shares of the basic materials company’s stock worth $26,192,000 after purchasing an additional 60,000 shares during the period. Russell Investments Group Ltd. boosted its position in Landec by 22.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,200,488 shares of the basic materials company’s stock worth $23,916,000 after purchasing an additional 407,935 shares in the last quarter. Vanguard Group Inc. boosted its position in Landec by 13.7% in the 2nd quarter. Vanguard Group Inc. now owns 1,812,483 shares of the basic materials company’s stock worth $16,983,000 after purchasing an additional 218,927 shares in the last quarter. Heartland Advisors Inc. grew its stake in shares of Landec by 24.6% during the 2nd quarter. Heartland Advisors Inc. now owns 1,041,475 shares of the basic materials company’s stock worth $9,759,000 after purchasing an additional 205,775 shares during the period. Finally, Boston Partners grew its stake in shares of Landec by 1,375.6% during the 2nd quarter. Boston Partners now owns 903,652 shares of the basic materials company’s stock worth $8,467,000 after purchasing an additional 842,413 shares during the period. 92.82% of the stock is currently owned by 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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