Lazard (NYSE:LAZ) Stock Rating Upgraded by Zacks Research

Lazard (NYSE:LAZ) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. Citizens Jmp decreased their price target on shares of Lazard from $65.00 to $60.00 and set a “market outperform” rating for the company in a research note on Friday, April 10th. Argus dropped their target price on shares of Lazard from $63.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. UBS Group reiterated a “neutral” rating and set a $44.00 price target on shares of Lazard in a report on Tuesday, June 9th. The Goldman Sachs Group set a $40.00 price objective on Lazard in a research note on Friday, June 12th. Finally, Morgan Stanley reduced their target price on Lazard from $59.00 to $52.00 and set an “underweight” rating for the company in a research note on Thursday, April 9th. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Lazard has an average rating of “Hold” and an average target price of $52.00.

Lazard Stock Performance

LAZ stock opened at $41.76 on Monday. Lazard has a twelve month low of $38.67 and a twelve month high of $58.75. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 1.94. The company has a market cap of $4.66 billion, a P/E ratio of 16.51, a price-to-earnings-growth ratio of 0.46 and a beta of 1.43. The business’s fifty day moving average is $45.28 and its 200-day moving average is $47.37.

Lazard (NYSE:LAZ) last issued its earnings results on Friday, May 1st. The asset manager reported $0.42 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.10). The firm had revenue of $672.98 million during the quarter, compared to the consensus estimate of $707.42 million. Lazard had a net margin of 8.47% and a return on equity of 29.30%. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.56 EPS. Equities research analysts forecast that Lazard will post 2.85 EPS for the current year.

Institutional Trading of Lazard

Several large investors have recently modified their holdings of LAZ. Kestra Advisory Services LLC acquired a new stake in shares of Lazard during the 4th quarter worth approximately $26,000. Sound Income Strategies LLC increased its stake in shares of Lazard by 59.5% in the 4th quarter. Sound Income Strategies LLC now owns 590 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 220 shares during the last quarter. Quest 10 Wealth Builders Inc. acquired a new position in shares of Lazard during the 4th quarter worth $32,000. IFP Advisors Inc lifted its position in shares of Lazard by 53.5% during the 3rd quarter. IFP Advisors Inc now owns 643 shares of the asset manager’s stock worth $34,000 after buying an additional 224 shares during the last quarter. Finally, State of Wyoming acquired a new stake in Lazard in the second quarter valued at about $38,000. 54.80% of the stock is owned by institutional investors and hedge funds.

Lazard Company Profile

Lazard Ltd. (NYSE: LAZ) is a leading global financial advisory and asset management firm, offering a comprehensive suite of services to corporations, governments and individuals. Founded in 1848, Lazard has built a reputation for providing independent advice and innovative solutions in complex financial transactions. The firm is publicly traded on the New York Stock Exchange under the ticker symbol LAZ and maintains its headquarters in Hamilton, Bermuda.

In its Financial Advisory segment, Lazard assists clients with mergers and acquisitions, restructurings, capital structure optimization and strategic planning.