Lufax (NYSE:LU) Stock Dropped to Strong Sell by Wall Street Zen

Key Points

• Wall Street Zen downgraded Lufax from “sell” to “strong sell.” Analyst views remain mixed overall, with MarketBeat reporting a consensus “hold” rating and an average price target of $17.
• Lufax shares opened at $9.37, near the bottom of their 12-month range of $7.70 to $32.10.
• The company’s latest quarter fell short of analyst expectations, reporting a loss of $0.27 per share and revenue of $921.68 million versus estimates of $2.22 billion.

Lufax (NYSE:LU - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a research report issued on Saturday, Wall Street Zen reports.

Several other equities research analysts have also commented on LU. Deutsche Bank Aktiengesellschaft set a $14.00 price objective on Lufax and gave the stock a "hold" rating in a research note on Thursday, August 27th. Weiss Ratings restated a "sell (d)" rating on shares of Lufax in a research note on Thursday, August 13th. Zacks Research raised shares of Lufax from a "strong sell" rating to a "hold" rating in a research note on Monday, September 28th. Finally, JPMorgan Chase & Co. upgraded Lufax from a "neutral" rating to an "overweight" rating and set a $20.00 target price on the stock in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Lufax presently has a consensus rating of "Hold" and an average price target of $17.00.

Lufax Stock Performance

Shares of NYSE LU opened at $9.37 on Friday. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $811.66 million, a price-to-earnings ratio of -1.54 and a beta of 0.80. The firm has a 50 day moving average of $10.51 and a 200 day moving average of $16.76. Lufax has a 12-month low of $7.70 and a 12-month high of $32.10.

Lufax (NYSE:LU - Get Free Report) last posted its earnings results on Wednesday, October 28th. The company reported ($0.27) EPS for the quarter, missing analysts' consensus estimates of $10.81 by ($11.08). The firm had revenue of $921.68 million for the quarter, compared to analyst estimates of $2.22 billion. On average, research analysts anticipate that Lufax will post -1.44 earnings per share for the current year.

Institutional Trading of Lufax

A number of hedge funds and other institutional investors have recently modified their holdings of LU. Barometer Capital Management Inc. increased its position in Lufax by 7,538.6% in the 1st quarter. Barometer Capital Management Inc. now owns 534,700 shares of the company's stock valued at $1,000,000 after buying an additional 527,700 shares in the last quarter. California Public Employees Retirement System raised its holdings in Lufax by 2.4% during the first quarter. California Public Employees Retirement System now owns 329,089 shares of the company's stock worth $615,000 after purchasing an additional 7,608 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Lufax by 2.8% in the 1st 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. Ramsey Quantitative Systems acquired a new position in shares of Lufax during the second quarter worth approximately $199,000. Finally, Bank of New York Mellon Corp grew its stake in shares of 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. Institutional investors and hedge funds own 69.14% of the company's stock.

Lufax Company Profile

Lufax Holding Ltd. NYSE: LU is a China-based financial services technology company that operates digital platforms for retail and small-business finance. The company connects consumers and small-business owners with financial products and services through online channels and technology-enabled processes.

Lufax's business has historically included retail lending, wealth management and related financial services. Its platforms have provided access to consumer and small-business loans, investment products and other services offered in cooperation with financial institutions.

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