Lufax (NYSE:LU) Stock Lifted to “Hold” by Zacks Research
by Jessica Moore · The Cerbat GemZacks Research upgraded shares of Lufax (NYSE:LU – Free Report) from a strong sell rating to a hold rating in a research report sent to investors on Monday morning,Zacks reports.
LU has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft set a $1.40 price target on shares of Lufax and gave the stock a “hold” rating in a research report on Thursday, August 27th. Weiss Ratings reissued a “sell (d)” rating on shares of Lufax in a research report on Thursday, August 13th. Wall Street Zen cut Lufax from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. Finally, JPMorgan Chase & Co. upgraded Lufax from a “neutral” rating to an “overweight” rating and set a $2.00 target price on the stock in a report on Tuesday, July 28th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $1.70.
Lufax Trading Down 2.0%
Shares of LU stock opened at $1.24 on Monday. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of -2.02 and a beta of 0.76. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.08. Lufax has a fifty-two week low of $1.14 and a fifty-two week high of $4.57. The firm’s 50 day moving average price is $1.36 and its two-hundred day moving average price is $1.57.
Lufax (NYSE:LU – Get Free Report) last released its quarterly earnings data on Friday, August 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($1.12). The business had revenue of $916.61 million for the quarter, compared to the consensus estimate of $2.22 billion. On average, analysts anticipate that Lufax will post -0.29 EPS for the current year.
Hedge Funds Weigh In On Lufax
A number of institutional investors and hedge funds have recently added to or reduced their stakes in LU. Public Employees Retirement System of Ohio increased its stake in shares of Lufax by 2.8% in the first quarter. Public Employees Retirement System of Ohio now owns 246,500 shares of the company’s stock worth $461,000 after buying an additional 6,600 shares during the last quarter. California Public Employees Retirement System boosted its stake in Lufax by 2.4% during the 1st quarter. California Public Employees Retirement System now owns 329,089 shares of the company’s stock valued at $615,000 after acquiring an additional 7,608 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Lufax by 4.7% during the 1st quarter. Bank of New York Mellon Corp now owns 318,365 shares of the company’s stock worth $595,000 after acquiring an additional 14,224 shares in the last quarter. Fulton Bank N.A. acquired a new position in Lufax during the 1st quarter worth $27,000. Finally, Engineers Gate Manager LP bought a new stake in shares of Lufax in the 2nd quarter worth about $60,000. 69.14% of the stock is owned by hedge funds and other institutional investors.
Lufax Company Profile
Lufax Holding Ltd. (NYSE: LU) is a China-based financial services technology company that operates an online platform connecting borrowers, lenders and wealth-management customers. The company primarily serves small business owners, self-employed individuals and retail investors through digital financial products and services.
Lufax’s business includes consumer and small-business lending, wealth-management services and related technology solutions. Its platform uses data analytics, risk-management tools and digital processes to support loan origination, servicing and investment transactions.