Lufax (NYSE:LU) Downgraded to Hold at Zacks Investment Research


Share on StockTwits

Zacks Investment Research lowered shares of Lufax (NYSE:LU) from a buy rating to a hold rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “Lufax Holding Ltd is a technology-empowered personal financial services platform principally in China. Lufax Holding Ltd is based in Shanghai, China. “

Other equities research analysts also recently issued reports about the company. Sanford C. Bernstein began coverage on Lufax in a report on Thursday, April 1st. They set an underperform rating and a $10.50 target price on the stock. Rowe assumed coverage on shares of Lufax in a research note on Monday, March 8th. They set a buy rating and a $22.04 price objective on the stock. Citigroup assumed coverage on shares of Lufax in a research note on Monday, March 8th. They issued a buy rating and a $22.04 target price for the company. Finally, China Renaissance Securities assumed coverage on shares of Lufax in a research note on Friday, December 11th. They set a buy rating and a $17.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $17.73.

Lufax stock opened at $14.43 on Wednesday. The stock has a fifty day simple moving average of $15.06. Lufax has a 52-week low of $11.56 and a 52-week high of $20.17.

Lufax (NYSE:LU) last announced its quarterly earnings results on Tuesday, February 2nd. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. The business had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $1.89 billion. Research analysts forecast that Lufax will post 0.79 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ bought a new position in shares of Lufax during the fourth quarter worth about $53,000. Nomura Asset Management Co. Ltd. acquired a new stake in Lufax during the fourth quarter valued at approximately $160,000. MARSHALL WACE ASIA Ltd bought a new position in Lufax during the 4th quarter worth approximately $258,000. Yorktown Management & Research Co Inc acquired a new position in shares of Lufax in the 4th quarter worth approximately $305,000. Finally, ExodusPoint Capital Management LP bought a new stake in shares of Lufax in the 4th quarter valued at approximately $325,000.

About Lufax

Lufax Holding Ltd operates a technology-empowered personal financial services platform in China. It offers loan products, including unsecured loans and secured loans, as well as consumer finance loans. The company also provides wealth management platforms, such as Lufax (Lu.com), Lu International (Singapore), and Lu International (Hong Kong) to the middle class and affluent investors to invest in products and portfolios; retail credit facilitation services platform that offers small business owners with lending solutions; and technology empowerment solutions for financial institutions.

Read More: How can investors benefit from after-hours trading?

Get a free copy of the Zacks research report on Lufax (LU)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Lufax (NYSE:LU)

Receive News & Ratings for Lufax Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lufax and related companies with MarketBeat.com's FREE daily email newsletter.