Luxfer (LXFR) Lifted to “Buy” at Zacks Investment Research

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Zacks Investment Research upgraded shares of Luxfer (NYSE:LXFR) from a hold rating to a buy rating in a research note released on Thursday. Zacks Investment Research currently has $21.00 price target on the industrial products company’s stock.

According to Zacks, “Luxfer Holdings PLC is a materials technology company specialising in the design, manufacture and supply of high-performance materials, components and gas cylinders. The company had two divisions, Elektron and Gas Cylinders. The Elektron division focuses on speciality materials based on magnesium, zirconium and rare earths. The Gas Cylinders division manufactures products made from aluminium, composites and other metals using technically advanced processes. Luxfer also offers recycling services and magnesium powders throughout global networks. It operates manufacturing plants in various countries, which include the United Kingdom, the United States, France, Czech Republic, Canada and China. Luxfer Holdings PLC is based in Salford, the United Kingdom. “

A number of other research analysts have also recently issued reports on LXFR. ValuEngine raised shares of Luxfer from a buy rating to a strong-buy rating in a research report on Saturday, September 22nd. KeyCorp lifted their price target on shares of Luxfer from $24.00 to $30.00 and gave the company an overweight rating in a research report on Monday, November 5th.

NYSE LXFR traded up $0.60 during trading hours on Thursday, reaching $19.61. 120,241 shares of the company’s stock traded hands, compared to its average volume of 174,437. Luxfer has a 52-week low of $12.33 and a 52-week high of $28.06. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.44 and a quick ratio of 1.15.

Luxfer (NYSE:LXFR) last issued its quarterly earnings results on Wednesday, October 31st. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.20. Luxfer had a net margin of 5.94% and a return on equity of 22.73%. The company had revenue of $129.10 million during the quarter, compared to analysts’ expectations of $120.90 million. On average, equities analysts forecast that Luxfer will post 1.67 EPS for the current year.

The firm also recently declared a dividend, which will be paid on Wednesday, February 6th. Investors of record on Friday, January 18th will be given a dividend of $0.125 per share. The ex-dividend date is Thursday, January 17th. Luxfer’s dividend payout ratio (DPR) is currently 13.68%.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wells Fargo & Company MN lifted its position in Luxfer by 1.1% during the 3rd quarter. Wells Fargo & Company MN now owns 183,855 shares of the industrial products company’s stock valued at $4,275,000 after acquiring an additional 1,961 shares during the period. Essex Investment Management Co. LLC increased its stake in Luxfer by 4.2% during the 3rd quarter. Essex Investment Management Co. LLC now owns 111,413 shares of the industrial products company’s stock valued at $2,590,000 after purchasing an additional 4,516 shares in the last quarter. Trexquant Investment LP bought a new stake in Luxfer during the 3rd quarter valued at about $275,000. State of New Jersey Common Pension Fund D bought a new stake in Luxfer during the 3rd quarter valued at about $280,000. Finally, Ancora Advisors LLC increased its stake in Luxfer by 100.4% during the 3rd quarter. Ancora Advisors LLC now owns 29,583 shares of the industrial products company’s stock valued at $688,000 after purchasing an additional 14,819 shares in the last quarter.

About Luxfer

Luxfer Holdings PLC, a materials technology company, designs, manufactures, and supplies high-performance materials, components, and high-pressure gas-containment devices for transportation, defense and emergency response, healthcare, and general industrial applications in Europe, North America, the Asia Pacific, and internationally.

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