Lufax (NYSE:LU) Stock Rating Raised to "Hold" at Zacks Research

Key Points

• Zacks Research upgraded Lufax from “strong sell” to “hold,” while broader analyst sentiment remains mixed; the consensus rating is “Hold” with an average price target of $1.70.
• Lufax shares opened at $1.24, down 2%, near their 52-week low of $1.14 and below both the 50-day and 200-day moving averages.
• The company reported a quarterly loss of $0.04 per share and revenue of $916.61 million, missing analyst expectations of $1.08 EPS and $2.22 billion in revenue.

Lufax (NYSE:LU - Get Free Report) was upgraded by stock analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued on Monday, Zacks reports.

LU has been the topic of a number of other reports. Weiss Ratings reissued a "sell (d)" rating on shares of Lufax in a research note on Thursday, August 13th. Deutsche Bank Aktiengesellschaft set a $1.40 price target on Lufax and gave the company a "hold" rating in a research note on Thursday, August 27th. Wall Street Zen cut Lufax from a "hold" rating to a "sell" rating in a report on Saturday, August 22nd. Finally, JPMorgan Chase & Co. upgraded Lufax from a "neutral" rating to an "overweight" rating and set a $2.00 price objective for the company in a research report on Tuesday, July 28th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $1.70.

Lufax Stock Down 2.0%

LU stock opened at $1.24 on Monday. The company has a market cap of $1.07 billion, a PE 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 52 week low of $1.14 and a 52 week high of $4.57. The business has a 50-day simple moving average of $1.36 and a 200 day simple moving average of $1.57.

Lufax (NYSE:LU - Get Free Report) last released its earnings results on Friday, August 14th. The company reported ($0.04) 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 analysts' expectations of $2.22 billion. Sell-side analysts anticipate that Lufax will post -0.29 EPS for the current fiscal year.

Institutional Trading of Lufax

Hedge funds have recently added to or reduced their stakes in the stock. Alpine Investment Management Ltd increased its holdings in shares of Lufax by 91.9% during the fourth quarter. Alpine Investment Management Ltd now owns 8,106,500 shares of the company's stock worth $20,753,000 after buying an additional 3,881,500 shares in the last quarter. Barometer Capital Management Inc. boosted its holdings in shares of Lufax by 7,538.6% during the 1st quarter. Barometer Capital Management Inc. now owns 534,700 shares of the company's stock valued at $1,000,000 after acquiring an additional 527,700 shares in the last quarter. California Public Employees Retirement System boosted its holdings in shares of 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 in the last quarter. Bank of New York Mellon Corp boosted its holdings 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 valued at $595,000 after acquiring an additional 14,224 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its position in Lufax by 2.8% during the 1st quarter. Public Employees Retirement System of Ohio now owns 246,500 shares of the company's stock worth $461,000 after acquiring an additional 6,600 shares during 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 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.

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