Lannett Co Inc (LCI) Given Consensus Recommendation of “Hold” by Analysts
Lannett Co Inc (NYSE:LCI) has been assigned a consensus rating of “Hold” from the eight ratings firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $21.00.
Several equities research analysts have commented on the company. BidaskClub downgraded Lannett Co from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 8th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Lannett Co in a report on Wednesday, August 23rd. Deutsche Bank AG dropped their target price on Lannett Co from $23.00 to $19.00 and set a “hold” rating on the stock in a report on Monday, August 14th. Zacks Investment Research raised Lannett Co from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. Finally, ValuEngine raised Lannett Co from a “hold” rating to a “buy” rating in a report on Monday, October 2nd.
Lannett Co (NYSE:LCI) last released its quarterly earnings results on Wednesday, August 23rd. The company reported $0.40 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.40. Lannett Co had a positive return on equity of 19.80% and a negative net margin of 0.09%. The company had revenue of $139.10 million for the quarter, compared to analyst estimates of $139.01 million. During the same period in the previous year, the company posted $0.73 earnings per share. The firm’s revenue was down 17.6% on a year-over-year basis.
A number of institutional investors have recently added to or reduced their stakes in LCI. Arizona State Retirement System raised its stake in shares of Lannett Co by 0.7% in the second quarter. Arizona State Retirement System now owns 15,362 shares of the company’s stock worth $313,000 after purchasing an additional 100 shares during the last quarter. CS Mckee LP raised its stake in shares of Lannett Co by 0.6% in the second quarter. CS Mckee LP now owns 35,400 shares of the company’s stock worth $722,000 after purchasing an additional 200 shares during the last quarter. Texas Permanent School Fund raised its stake in shares of Lannett Co by 1.0% in the second quarter. Texas Permanent School Fund now owns 21,474 shares of the company’s stock worth $438,000 after purchasing an additional 203 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Lannett Co by 0.4% in the second quarter. Rhumbline Advisers now owns 61,600 shares of the company’s stock worth $1,257,000 after purchasing an additional 244 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Lannett Co by 1.3% in the second quarter. The Manufacturers Life Insurance Company now owns 22,366 shares of the company’s stock worth $456,000 after purchasing an additional 297 shares during the last quarter. 88.23% of the stock is currently owned by institutional investors and hedge funds.
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About Lannett Co
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.
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