Leucadia National (LUK) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of Leucadia National (NYSE:LUK) from a hold rating to a buy rating in a research report released on Wednesday morning. Zacks Investment Research currently has $28.00 price objective on the conglomerate’s stock.
According to Zacks, “Leucadia’s performance in the debt capital market has improved with solid contribution from equity capital markets, advisory activities and a favorable sales and trading environment. With significant margin contribution from National Beef and other businesses, Leucadia remains well positioned to grow. The company’s businesses have separate revenue streams that move according to their own cycle and mitigate operating risks. A pro-growth business environment with a lower corporate tax structure should bode well for the economy and financial markets in general and Jefferies in particular. In addition, Trump’s plan to spend $1 trillion in infrastructure projects over a period of 10 years and regulatory rollbacks augur well. The company outperformed the industry in the last three months. However, high network maintenance costs to prevent any intrusion and data theft of confidential client information strain margins for the company.”
Separately, TheStreet raised Leucadia National from a c+ rating to a b- rating in a research note on Friday, November 3rd.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Sentry Investment Management LLC raised its holdings in shares of Leucadia National by 0.9% in the second quarter. Sentry Investment Management LLC now owns 23,479 shares of the conglomerate’s stock worth $614,000 after buying an additional 215 shares during the period. Thrivent Financial For Lutherans raised its holdings in shares of Leucadia National by 3.4% in the second quarter. Thrivent Financial For Lutherans now owns 12,271 shares of the conglomerate’s stock worth $321,000 after buying an additional 400 shares during the period. AHL Partners LLP raised its holdings in shares of Leucadia National by 8.3% in the second quarter. AHL Partners LLP now owns 13,132 shares of the conglomerate’s stock worth $343,000 after buying an additional 1,005 shares during the period. Voya Investment Management LLC raised its holdings in shares of Leucadia National by 1.0% in the second quarter. Voya Investment Management LLC now owns 184,340 shares of the conglomerate’s stock worth $4,823,000 after buying an additional 1,761 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Leucadia National by 2.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 99,831 shares of the conglomerate’s stock worth $2,531,000 after buying an additional 2,000 shares during the period. Hedge funds and other institutional investors own 74.78% of the company’s stock.
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Leucadia National Company Profile
Leucadia National Corporation (Leucadia) is a diversified holding company focused on return on investment and long-term value. The Company’s segments, based on requirements are Jefferies, National Beef, and Corporate and other. Jefferies is a global full-service, integrated securities and investment banking firm.
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