Lufax (NYSE:LU) Cut to Strong Sell at Wall Street Zen

Wall Street Zen downgraded shares of Lufax (NYSE:LU) from a sell rating to a strong sell rating in a research note published on Saturday morning,Wall Street Zen reports.

A number of other analysts have also recently commented on LU. Zacks Research upgraded Lufax from a “strong sell” rating to a “hold” rating in a research report on Monday, September 28th. Weiss Ratings reissued a “sell (d)” rating on shares of Lufax in a research note on Thursday, August 13th. Deutsche Bank Aktiengesellschaft set a $14.00 target price on shares of Lufax and gave the company a “hold” rating in a report on Thursday, August 27th. Finally, JPMorgan Chase & Co. raised shares of Lufax from a “neutral” rating to an “overweight” rating and set a $20.00 price target 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. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $17.00.

Lufax Price Performance

LU stock opened at $7.89 on Friday. Lufax has a 1 year low of $7.69 and a 1 year high of $32.10. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.69 and a current ratio of 1.69. The stock’s 50 day moving average price is $10.41 and its 200 day moving average price is $16.67. The firm has a market cap of $684.09 million, a P/E ratio of -1.29 and a beta of 0.80.

Lufax (NYSE:LU) last announced 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 business had revenue of $921.68 million during the quarter, compared to analysts’ expectations of $2.22 billion. On average, sell-side analysts expect that Lufax will post -1.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in LU. Asset Management One Co. Ltd. increased its position in Lufax by 8.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 37,853 shares of the company’s stock valued at $46,000 after acquiring an additional 2,994 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Lufax by 2.8% in the first 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. California Public Employees Retirement System lifted its position in shares of 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. Bank of New York Mellon Corp lifted its position in shares of Lufax by 4.7% during the first quarter. Bank of New York Mellon Corp now owns 318,365 shares of the company’s stock worth $595,000 after purchasing an additional 14,224 shares in the last quarter. Finally, StoneX Group Inc. acquired a new position in shares of Lufax during the third quarter worth approximately $47,000. Hedge funds and other institutional investors own 69.14% of the company’s stock.

About Lufax

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.