Landec Corporation (LNDC) Posts Quarterly Earnings Results, Hits Expectations

Landec Corporation (NASDAQ:LNDC) posted its quarterly earnings data on Tuesday, July 25th. The basic materials company reported $0.09 EPS for the quarter, meeting analysts’ consensus estimates of $0.09, Briefing.com reports. The company had revenue of $127.40 million for the quarter, compared to analyst estimates of $135.46 million. Landec Corporation had a net margin of 1.99% and a return on equity of 4.81%. Landec Corporation’s quarterly revenue was down 5.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.17 earnings per share. Landec Corporation updated its Q1 guidance to $0.05-$0.07 EPS and its FY18 guidance to $0.52-$0.58 EPS.

Landec Corporation (LNDC) opened at 13.10 on Monday. The firm has a market capitalization of $363.58 million, a price-to-earnings ratio of 34.47 and a beta of 1.40. Landec Corporation has a 52 week low of $11.20 and a 52 week high of $15.50. The stock’s 50 day moving average is $13.74 and its 200-day moving average is $13.38.

Several hedge funds and other institutional investors have recently made changes to their positions in LNDC. Royce & Associates LP boosted its position in shares of Landec Corporation by 17.0% in the second quarter. Royce & Associates LP now owns 1,214,136 shares of the basic materials company’s stock valued at $18,030,000 after buying an additional 176,629 shares during the last quarter. Algert Global LLC purchased a new position in shares of Landec Corporation during the second quarter valued at approximately $2,012,000. Boston Partners boosted its position in shares of Landec Corporation by 17.0% in the first quarter. Boston Partners now owns 530,400 shares of the basic materials company’s stock valued at $6,364,000 after buying an additional 76,890 shares during the last quarter. Foundry Partners LLC boosted its position in shares of Landec Corporation by 15.8% in the first quarter. Foundry Partners LLC now owns 409,715 shares of the basic materials company’s stock valued at $4,917,000 after buying an additional 55,900 shares during the last quarter. Finally, Pacific Ridge Capital Partners LLC boosted its position in shares of Landec Corporation by 22.1% in the first quarter. Pacific Ridge Capital Partners LLC now owns 277,062 shares of the basic materials company’s stock valued at $3,325,000 after buying an additional 50,090 shares during the last quarter. Institutional investors own 92.52% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This report was posted by [[site]] and is the sole property of of [[site]]. If you are accessing this report on another website, it was illegally stolen and republished in violation of international copyright laws. The correct version of this report can be read at [[permalink]].

A number of research firms have commented on LNDC. Zacks Investment Research upgraded shares of Landec Corporation from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Saturday, July 1st. TheStreet upgraded shares of Landec Corporation from a “c+” rating to a “b” rating in a research note on Tuesday, April 25th. BidaskClub lowered shares of Landec Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Wedbush reiterated a “hold” rating on shares of Landec Corporation in a research note on Wednesday, July 26th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $14.50.

About Landec Corporation

Landec Corporation designs, develops, manufactures and sells a range of health and wellness products for food and biomaterials markets. The Company licenses technology applications to partners. The Company operates through three segments: Packaged Fresh Vegetables, Food Export and Biomaterials. The Packaged Fresh Vegetables segment markets and packs specialty packaged whole and fresh-cut fruit and vegetables, the majority of which incorporate the BreatheWay specialty packaging for the retail grocery, club store and food services industry.