Zacks Research Upgrades Lufax (NYSE:LU) to “Hold”

Lufax (NYSE:LU) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday, Zacks reports.

LU has been the topic of several other reports. Deutsche Bank Aktiengesellschaft set a $1.40 price objective on shares of Lufax and gave the company a “hold” rating in a report on Thursday, August 27th. Weiss Ratings reiterated a “sell (d)” rating on shares of Lufax in a research note on Thursday, August 13th. JPMorgan Chase & Co. raised shares of Lufax from a “neutral” rating to an “overweight” rating and set a $2.00 price target on the stock in a research report on Tuesday, July 28th. Finally, Wall Street Zen cut shares of Lufax from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Lufax presently has a consensus rating of “Hold” and a consensus price target of $1.70.

Lufax Stock Performance

NYSE:LU opened at $1.24 on Monday. The company has a market capitalization of $1.07 billion, a P/E ratio of -2.02 and a beta of 0.76. The business has a fifty day simple moving average of $1.36 and a two-hundred day simple moving average of $1.57. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.72 and a quick ratio of 1.72. Lufax has a 1 year low of $1.14 and a 1 year high of $4.57.

Lufax (NYSE:LU) last issued its quarterly earnings results on Friday, August 14th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($1.12). The firm had revenue of $916.61 million during the quarter, compared to analysts’ expectations of $2.22 billion. On average, analysts expect that Lufax will post -0.29 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio raised its stake in Lufax by 2.8% in the first quarter. Public Employees Retirement System of Ohio now owns 246,500 shares of the company’s stock valued at $461,000 after purchasing an additional 6,600 shares in the last quarter. California Public Employees Retirement System lifted its position in Lufax by 2.4% during the first quarter. California Public Employees Retirement System now owns 329,089 shares of the company’s stock valued at $615,000 after purchasing an additional 7,608 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Lufax by 4.7% in the 1st quarter. Bank of New York Mellon Corp now owns 318,365 shares of the company’s stock worth $595,000 after buying an additional 14,224 shares in the last quarter. Fulton Bank N.A. purchased a new position in Lufax in the 1st quarter worth approximately $27,000. Finally, Engineers Gate Manager LP bought a new position in shares of Lufax in the 2nd quarter worth $60,000. Institutional investors 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.