Lannett Co Inc (LCI) Trading Up 0% After Earnings Beat
Lannett Co Inc (NYSE:LCI) shares were up 0% during trading on Tuesday following a stronger than expected earnings report. The stock traded as high as $25.00 and last traded at $24.45. Approximately 2,148,912 shares were traded during trading, an increase of 119% from the average daily volume of 981,648 shares. The stock had previously closed at $24.45.
The company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. The business had revenue of $155.00 million during the quarter, compared to analyst estimates of $153.62 million. Lannett Co had a negative net margin of 0.09% and a positive return on equity of 19.80%. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.77 EPS.
A number of equities research analysts have issued reports on the company. Deutsche Bank AG reiterated a “hold” rating and issued a $23.00 price target (up previously from $22.00) on shares of Lannett Co in a research note on Monday, July 17th. Roth Capital set a $27.00 price objective on shares of Lannett Co and gave the company a “buy” rating in a report on Tuesday, August 22nd. ValuEngine downgraded shares of Lannett Co from a “buy” rating to a “hold” rating in a report on Friday, September 1st. BidaskClub downgraded shares of Lannett Co from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Finally, Zacks Investment Research raised shares of Lannett Co from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a report on Tuesday, July 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. Lannett Co has a consensus rating of “Hold” and a consensus target price of $21.80.
Several large investors have recently bought and sold shares of the company. BlackRock Inc. lifted its position in Lannett Co by 52,610.9% during the first quarter. BlackRock Inc. now owns 3,903,766 shares of the company’s stock valued at $87,250,000 after purchasing an additional 3,896,360 shares during the period. Vanguard Group Inc. increased its stake in shares of Lannett Co by 6.2% during the second quarter. Vanguard Group Inc. now owns 2,901,885 shares of the company’s stock worth $59,198,000 after purchasing an additional 168,454 shares in the last quarter. State Street Corp increased its stake in shares of Lannett Co by 7.9% during the first quarter. State Street Corp now owns 1,279,860 shares of the company’s stock worth $28,606,000 after purchasing an additional 93,186 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Lannett Co by 27.0% during the third quarter. Russell Investments Group Ltd. now owns 669,298 shares of the company’s stock worth $12,349,000 after purchasing an additional 142,278 shares in the last quarter. Finally, Heartland Advisors Inc. increased its stake in shares of Lannett Co by 20.0% during the second quarter. Heartland Advisors Inc. now owns 600,000 shares of the company’s stock worth $12,240,000 after purchasing an additional 100,000 shares in the last quarter. Institutional investors and hedge funds own 87.67% of the company’s stock.
The stock has a market capitalization of $790.43, a PE ratio of 7.24, a price-to-earnings-growth ratio of 1.95 and a beta of 2.73. The company has a quick ratio of 2.09, a current ratio of 2.72 and a debt-to-equity ratio of 1.50.
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.
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