Lazard (NYSE:LAZ) Given New $55.00 Price Target at Wells Fargo & Company

Lazard (NYSE:LAZ) had its price objective increased by stock analysts at Wells Fargo & Company from $51.00 to $55.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the asset manager’s stock. Wells Fargo & Company‘s target price would suggest a potential downside of 1.50% from the company’s current price.

A number of other research analysts have also issued reports on the stock. The Goldman Sachs Group dropped their price target on shares of Lazard from $51.00 to $44.00 and set a “sell” rating on the stock in a research note on Wednesday, January 15th. Wolfe Research downgraded Lazard from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Keefe, Bruyette & Woods cut their price objective on Lazard from $57.00 to $52.00 and set a “market perform” rating for the company in a research report on Monday, January 13th. Morgan Stanley increased their target price on Lazard from $60.00 to $63.00 and gave the company an “equal weight” rating in a report on Friday. Finally, JMP Securities lifted their price target on shares of Lazard from $55.00 to $59.00 and gave the stock a “market outperform” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Lazard has a consensus rating of “Hold” and a consensus price target of $54.17.

Lazard Stock Up 1.2 %

Shares of NYSE LAZ traded up $0.68 during midday trading on Friday, hitting $55.84. 60,508 shares of the company’s stock were exchanged, compared to its average volume of 1,019,279. The company has a debt-to-equity ratio of 2.72, a current ratio of 2.24 and a quick ratio of 2.24. Lazard has a twelve month low of $35.56 and a twelve month high of $61.14. The firm’s fifty day simple moving average is $52.93 and its 200-day simple moving average is $50.77. The company has a market cap of $6.30 billion, a PE ratio of 22.20 and a beta of 1.40.

Lazard (NYSE:LAZ) last released its quarterly earnings data on Thursday, January 30th. The asset manager reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.09. Lazard had a net margin of 8.28% and a return on equity of 42.20%. Research analysts predict that Lazard will post 2.06 EPS for the current fiscal year.

Institutional Trading of Lazard

Several large investors have recently added to or reduced their stakes in the stock. Berbice Capital Management LLC purchased a new position in Lazard in the 4th quarter worth approximately $46,000. Abich Financial Wealth Management LLC acquired a new position in Lazard during the 3rd quarter valued at about $50,000. Roxbury Financial LLC acquired a new stake in shares of Lazard in the fourth quarter valued at approximately $53,000. Geneos Wealth Management Inc. bought a new stake in shares of Lazard during the fourth quarter valued at approximately $60,000. Finally, HHM Wealth Advisors LLC grew its holdings in Lazard by 209.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 1,267 shares of the asset manager’s stock worth $65,000 after buying an additional 857 shares in the last quarter. 54.80% of the stock is currently owned by institutional investors and hedge funds.

About Lazard

Lazard, Inc, together with its subsidiaries, operates as a financial advisory and asset management firm in North and South America, Europe, the Middle East, Asia, and Australia. It operates in two segments, Financial Advisory and Asset Management. The Financial Advisory segment offers financial advisory services, such as mergers and acquisitions, capital markets, shareholder, sovereign, geopolitical advisory, and other strategic advisory services, as well as restructuring and liability management, and capital raising and placement services.