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

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

A number of other brokerages have also commented on LU. JPMorgan Chase & Co. upgraded shares of Lufax from a “neutral” rating to an “overweight” rating and set a $2.00 price target on the stock in a report on Tuesday, July 28th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Lufax in a research report on Thursday, August 13th. Wall Street Zen downgraded Lufax from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. Finally, Deutsche Bank Aktiengesellschaft set a $1.40 price target on Lufax and gave the company a “hold” rating in a research report on Thursday, August 27th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $1.70.

Lufax Stock Down 2.0%

Shares of NYSE LU opened at $1.24 on Monday. The company has a 50 day simple moving average of $1.36 and a 200 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. The firm has a market cap of $1.07 billion, a PE ratio of -2.02 and a beta of 0.76.

Lufax (NYSE:LU) last posted its earnings results on Friday, August 14th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates 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. On average, research analysts forecast that Lufax will post -0.29 EPS for the current year.

Institutional Investors Weigh In On Lufax

Several large investors have recently modified their holdings of the company. Engineers Gate Manager LP bought a new stake in Lufax in the 2nd quarter valued at about $60,000. Public Employees Retirement System of Ohio acquired a new position in Lufax during the 2nd quarter worth approximately $157,000. Ramsey Quantitative Systems bought a new position in Lufax in the second quarter worth approximately $199,000. Barometer Capital Management Inc. boosted its holdings in Lufax by 7,538.6% in the first quarter. Barometer Capital Management Inc. now owns 534,700 shares of the company’s stock worth $1,000,000 after acquiring an additional 527,700 shares in the last quarter. Finally, California Public Employees Retirement System grew its stake in Lufax by 2.4% in the first 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 during the period. 69.14% of the stock is currently owned by institutional investors and hedge funds.

About Lufax

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.