Landec (NASDAQ:LNDC) Releases Earnings Results, Misses Estimates By $0.11 EPS

Landec (NASDAQ:LNDC) announced its quarterly earnings results on Tuesday. The basic materials company reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.11), Fidelity Earnings reports. Landec had a negative net margin of 8.85% and a negative return on equity of 0.04%.

Shares of Landec stock traded down $0.93 during trading on Thursday, reaching $10.02. The company’s stock had a trading volume of 15,332 shares, compared to its average volume of 119,978. The stock has a 50-day moving average price of $11.26 and a two-hundred day moving average price of $10.69. The stock has a market capitalization of $293.82 million, a P/E ratio of -5.72, a price-to-earnings-growth ratio of 33.84 and a beta of 1.04. The company has a current ratio of 0.89, a quick ratio of 0.48 and a debt-to-equity ratio of 0.39. Landec has a one year low of $7.48 and a one year high of $12.24.

Several equities research analysts have recently commented on the stock. Lake Street Capital reduced their target price on shares of Landec from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday. Zacks Investment Research raised shares of Landec from a “sell” rating to a “hold” rating in a research note on Tuesday, March 16th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $13.50.

In related news, Director Nelson Obus acquired 6,400 shares of the company’s stock in a transaction that occurred on Monday, January 11th. The stock was purchased at an average price of $10.81 per share, for a total transaction of $69,184.00. Following the transaction, the director now directly owns 36,115 shares of the company’s stock, valued at approximately $390,403.15. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Albert D. Bolles acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 19th. The stock was bought at an average price of $10.98 per share, with a total value of $109,800.00. Following the transaction, the chief executive officer now directly owns 36,152 shares in the company, valued at $396,948.96. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 20,400 shares of company stock worth $224,844. 11.89% of the stock is owned by corporate insiders.

About Landec

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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