$48.54 Million in Sales Expected for Landec Co. (NASDAQ:LNDC) This Quarter

Wall Street analysts forecast that Landec Co. (NASDAQ:LNDC) will report $48.54 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Landec’s earnings, with the highest sales estimate coming in at $48.58 million and the lowest estimate coming in at $48.50 million. Landec reported sales of $137.78 million in the same quarter last year, which indicates a negative year-over-year growth rate of 64.8%. The business is expected to issue its next quarterly earnings results on Wednesday, April 6th.

On average, analysts expect that Landec will report full year sales of $354.47 million for the current fiscal year, with estimates ranging from $354.00 million to $354.93 million. For the next year, analysts forecast that the business will post sales of $196.03 million, with estimates ranging from $194.10 million to $197.95 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Landec.

Several equities analysts recently issued reports on the stock. Zacks Investment Research raised shares of Landec from a “strong sell” rating to a “hold” rating in a report on Thursday, December 2nd. TheStreet raised shares of Landec from a “d+” rating to a “c-” rating in a report on Friday, December 31st. Barrington Research cut their price objective on shares of Landec from $14.00 to $12.00 and set an “outperform” rating on the stock in a report on Thursday, September 30th. Finally, Roth Capital cut their price objective on shares of Landec from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Monday, October 4th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Landec has a consensus rating of “Buy” and an average price target of $12.50.

LNDC stock traded up $0.21 during trading on Tuesday, hitting $10.91. 5,782 shares of the company’s stock traded hands, compared to its average volume of 148,008. The firm has a market capitalization of $321.63 million, a P/E ratio of -5.73 and a beta of 1.22. The business has a fifty day simple moving average of $9.97 and a two-hundred day simple moving average of $10.40. The company has a quick ratio of 0.70, a current ratio of 1.26 and a debt-to-equity ratio of 0.80. Landec has a 1 year low of $7.65 and a 1 year high of $12.88.

In other news, Director Joshua Schechter purchased 8,000 shares of the business’s stock in a transaction on Wednesday, January 12th. The shares were acquired at an average cost of $10.39 per share, with a total value of $83,120.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 13.16% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the company. William Blair Investment Management LLC acquired a new stake in shares of Landec during the second quarter worth $26,000. Citigroup Inc. lifted its stake in shares of Landec by 126.2% during the third quarter. Citigroup Inc. now owns 4,036 shares of the basic materials company’s stock worth $37,000 after buying an additional 2,252 shares during the period. Metropolitan Life Insurance Co NY acquired a new stake in shares of Landec during the third quarter worth $70,000. BNP Paribas Arbitrage SA lifted its stake in shares of Landec by 78.0% during the third quarter. BNP Paribas Arbitrage SA now owns 7,676 shares of the basic materials company’s stock worth $71,000 after buying an additional 3,363 shares during the period. Finally, Trexquant Investment LP acquired a new stake in shares of Landec during the third quarter worth $99,000. Institutional investors and hedge funds own 86.77% of the company’s stock.

Landec Company Profile

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 and Estimates for Landec (NASDAQ:LNDC)

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