Lannett Co Inc (LCI) Upgraded to Hold at Zacks Investment Research
Lannett Co Inc (NYSE:LCI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “Lannett, Inc. manufactures and distributes pharmaceutical products sold under generic names and historically has manufactured and distributed pharmaceutical products sold under its trade or brand names. In addition, the Company contract manufactures and private labels pharmaceutical products for other companies. “
Several other research analysts have also recently commented on LCI. Deutsche Bank AG restated a “hold” rating and set a $23.00 target price (up previously from $22.00) on shares of Lannett Co in a report on Monday, July 17th. BidaskClub cut shares of Lannett Co from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Roth Capital set a $27.00 target price on shares of Lannett Co and gave the stock a “buy” rating in a report on Tuesday, August 22nd. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Lannett Co in a report on Wednesday, August 23rd. Finally, BMO Capital Markets restated a “market perform” rating and set a $20.00 target price (down previously from $26.00) on shares of Lannett Co in a report on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $21.80.
Lannett Co (NYSE:LCI) traded down 0.21% during midday trading on Tuesday, hitting $23.45. 397,666 shares of the company traded hands. Lannett Co has a 12-month low of $14.90 and a 12-month high of $27.90. The stock’s 50-day moving average is $19.72 and its 200-day moving average is $20.24. The firm’s market capitalization is $874.31 million.
Lannett Co (NYSE:LCI) last announced its earnings results on Wednesday, August 23rd. The company reported $0.40 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.40. Lannett Co had a negative net margin of 0.09% and a positive return on equity of 19.80%. The business had revenue of $139.10 million during the quarter, compared to analysts’ expectations of $139.01 million. During the same quarter in the prior year, the company posted $0.73 earnings per share. The firm’s revenue was down 17.6% on a year-over-year basis. Analysts anticipate that Lannett Co will post $2.60 EPS for the current fiscal year.
TRADEMARK VIOLATION NOTICE: “Lannett Co Inc (LCI) Upgraded to Hold at Zacks Investment Research” was posted by American Banking News and is the property of of American Banking News. If you are accessing this piece on another website, it was illegally stolen and republished in violation of U.S. and international trademark and copyright law. The correct version of this piece can be read at https://www.americanbankingnews.com/2017/10/24/lannett-co-inc-lci-upgraded-to-hold-at-zacks-investment-research.html.
A number of hedge funds have recently made changes to their positions in LCI. Acrospire Investment Management LLC acquired a new stake in Lannett Co in the first quarter valued at $105,000. Legal & General Group Plc lifted its stake in Lannett Co by 4.4% in the first quarter. Legal & General Group Plc now owns 6,620 shares of the company’s stock valued at $117,000 after acquiring an additional 282 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in Lannett Co by 77.6% in the second quarter. State of Alaska Department of Revenue now owns 5,753 shares of the company’s stock valued at $117,000 after acquiring an additional 2,513 shares during the last quarter. Mason Street Advisors LLC acquired a new stake in Lannett Co in the second quarter valued at $130,000. Finally, Municipal Employees Retirement System of Michigan lifted its stake in Lannett Co by 4.5% in the second quarter. Municipal Employees Retirement System of Michigan now owns 6,940 shares of the company’s stock valued at $142,000 after acquiring an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 87.99% of the company’s stock.
Lannett Co Company Profile
Lannett Company, Inc develops, manufactures, markets and distributes generic versions of brand pharmaceutical products. The Company manufactures and/or distributes prescription products with the exception of a small portfolio of over-the-counter products manufactured by its subsidiary, Silarx Pharmaceuticals, Inc As of June 30, 2016, the Company’s products included Acetazolamide Tablets; Butalbital, Acetaminophen and Caffeine Tablets; Butalbital, Aspirin and Caffeine Capsules; C-Topical Solution; Digoxin Tablets; Glycolax Rx; Isosorbide Mononitrate CR; Levothyroxine Sodium Tablets; Methylphenidate HCL CD; Methylphenidate ER; Nifedipine CR; Omeprazole DR; Oxbutynin ER; Pantoprazole DR; Pilocarpine HCl Tablets; Triamterene w/Hydrochlorothiazide Capsules, and Ursodiol Capsules.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Lannett Co Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lannett Co Inc and related companies with MarketBeat.com's FREE daily email newsletter.