Lufax (NYSE:LU- Get a rating) has been upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note published on Tuesday, Zacks.com reports. The company currently has a price target of $5.25 on the stock. Zacks Investment ResearchThe stock’s price target would point to a potential upside of 16.41% from the stock’s previous close.
According to Zacks, “Lufax Holding Ltd is a technology-based personal financial services platform primarily in China. Lufax Holding Ltd is based in Shanghai, China.
Separately, Macquarie downgraded Lufax from an “outperform” rating to a “neutral” rating and set a price target of $5.00 for the company. in a report on Wednesday, March 9. Three research analysts gave the stock a hold rating and three issued the company’s stock a buy rating. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $9.01.
Lufax shares opened at $4.51 on Tuesday. Lufax has a 1-year low of $4.09 and a 1-year high of $15.28. The company has a market capitalization of $11.10 billion, a PE ratio of 4.34, a P/E/G ratio of 0.24 and a beta of 0.37. The stock has a fifty-day moving average price of $5.36 and a 200-day moving average price of $6.37. The company has a debt ratio of 0.12, a current ratio of 1.42 and a quick ratio of 1.54.
Lufax (NYSE:LU- Get a rating) last announced its results on Wednesday, March 9. The company reported earnings per share (EPS) of $0.19 for the quarter, missing the consensus estimate of $0.20 per ($0.01). Lufax had a net margin of 27.08% and a return on equity of 18.93%. During the same period of the previous year, the company achieved EPS of $0.19. As a group, equity analysts expect Lufax to post EPS of 1.22 for the current fiscal year.
A number of hedge funds have recently bought and sold shares of the company. Capital Research Global Investors increased its holdings in Lufax by 2.2% during the fourth quarter. Capital Research Global Investors now owns 56,801,759 shares of the company valued at $319,794,000 after purchasing an additional 1,205,276 shares last quarter. Capital World Investors increased its holdings in Lufax by 38.8% during the third quarter. Capital World Investors now owns 53,365,330 shares of the company valued at $372,490,000 after purchasing an additional 14,913,603 shares last quarter. Baillie Gifford & Co. increased its holdings in Lufax by 34.6% during the 4th quarter. Baillie Gifford & Co. now owns 26,496,135 shares of the company valued at $149,173,000 after purchasing an additional 6,812,317 shares last quarter. Krane Funds Advisors LLC increased its holdings in Lufax by 23.8% during the 4th quarter. Krane Funds Advisors LLC now owns 16,700,079 shares of the company valued at $94,021,000 after purchasing an additional 3,212,992 shares last quarter. Finally, Farallon Capital Management LLC increased its position in Lufax shares by 26.8% in the third quarter. Farallon Capital Management LLC now owns 14,356,899 shares of the company valued at $100,211,000 after acquiring an additional 3,032,500 shares in the last quarter. 24.30% of the shares are held by institutional investors and hedge funds.
Lufax Company Profile (Get a rating)
Lufax Holding Ltd operates a personal financial services technology platform in China. It offers loan products, including unsecured loans and secured loans, as well as consumer loans. The company also provides wealth management platforms, such as Lufax (Lu.com), Lu International (Singapore) and Lu International (Hong Kong) to middle class and affluent investors to invest in products and portfolios; retail credit facilitation services platform that provides small business owners with lending solutions; and technology empowerment solutions for financial institutions.
For more information on Zacks Investment Research’s research offerings, visit Zacks.com
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $1,000 in Lufax right now?
Before you consider Lufax, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Lufax wasn’t on the list.
While Lufax currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here