LexinFintech (NASDAQ:LX) Receives Hold (C+) Rating from Weiss Ratings

Key Points

• LexinFintech's stock received a "hold (C+)" rating from Weiss Ratings, while Wall Street Zen upgraded it to a "buy" rating, leading to an average rating of "Moderate Buy" with a target price of $13.60.
• The company reported $0.40 EPS for the last quarter, significantly beating the consensus estimate of $0.20, with a revenue of $500.62 million.
• LexinFintech initiated a share buyback program, indicating that the board believes its stock is undervalued, while hedge funds have increased their stakes in the company significantly during the second quarter.

LexinFintech (NASDAQ:LX - Get Free Report)'s stock had its "hold (c+)" rating reissued by equities research analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen upgraded LexinFintech from a "hold" rating to a "buy" rating in a report on Saturday, September 20th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, LexinFintech presently has an average rating of "Moderate Buy" and an average target price of $13.60.

LexinFintech Stock Performance

Shares of LX opened at $5.15 on Wednesday. LexinFintech has a 12 month low of $2.63 and a 12 month high of $11.64. The stock has a fifty day moving average price of $6.05 and a 200-day moving average price of $7.14. The company has a current ratio of 1.89, a quick ratio of 1.88 and a debt-to-equity ratio of 0.11. The firm has a market cap of $866.54 million, a PE ratio of 4.06 and a beta of 0.45.

LexinFintech (NASDAQ:LX - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.20 by $0.20. LexinFintech had a return on equity of 14.67% and a net margin of 11.50%.The firm had revenue of $500.62 million during the quarter, compared to analyst estimates of $500.62 million.

LexinFintech declared that its Board of Directors has initiated a share buyback program on Monday, July 21st that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Hedge Funds Weigh In On LexinFintech

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its stake in LexinFintech by 350.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,969 shares of the company's stock worth $72,000 after acquiring an additional 7,756 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in LexinFintech in the 2nd quarter worth $75,000. Ballentine Partners LLC purchased a new position in LexinFintech in the 2nd quarter worth $86,000. Aigen Investment Management LP purchased a new position in LexinFintech in the 1st quarter worth $103,000. Finally, CreativeOne Wealth LLC purchased a new position in LexinFintech in the 1st quarter worth $107,000.

LexinFintech Company Profile

LexinFintech Holdings Ltd., through its subsidiaries, provides online consumer finance services in the People's Republic of China. The company operates Fenqile.com, an online consumption and consumer finance platform that offers installment purchase and personal installment loans, as well as online direct sales with installment payment terms; and Le Hua Card, a scenario-based lending.

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