Lufax (NYSE:LU) Rating Lowered to Strong Sell at Wall Street Zen

Lufax (NYSE:LU) was downgraded by equities researchers at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Several other analysts also recently issued reports on the company. Zacks Research raised Lufax from a “strong sell” rating to a “hold” rating in a research note on Monday, September 28th. Deutsche Bank Aktiengesellschaft set a $14.00 price objective on shares of Lufax and gave the company a “hold” rating in a research note on Thursday, August 27th. Weiss Ratings restated a “sell (d)” rating on shares of Lufax in a research note on Thursday, August 13th. Finally, JPMorgan Chase & Co. upgraded Lufax from a “neutral” rating to an “overweight” rating and set a $20.00 price objective for the company in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $17.00.

Lufax Trading Up 8.5%

NYSE:LU opened at $9.37 on Friday. The stock has a market cap of $811.66 million, a P/E ratio of -1.54 and a beta of 0.80. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.69 and a current ratio of 1.69. Lufax has a 1 year low of $7.70 and a 1 year high of $32.10. The stock has a 50-day simple moving average of $10.51 and a 200-day simple moving average of $16.76.

Lufax (NYSE:LU) last issued its quarterly earnings data on Wednesday, October 28th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of $10.81 by ($11.08). The business had revenue of $921.68 million for the quarter, compared to analysts’ expectations of $2.22 billion. As a group, analysts anticipate that Lufax will post -1.44 earnings per share for the current fiscal year.

Institutional Trading of Lufax

Several institutional investors have recently added to or reduced their stakes in the business. StoneX Group Inc. purchased a new stake in Lufax in the 3rd quarter worth approximately $47,000. Asset Management One Co. Ltd. lifted its holdings in shares of Lufax by 8.6% in the third quarter. Asset Management One Co. Ltd. now owns 37,853 shares of the company’s stock valued at $46,000 after purchasing an additional 2,994 shares in the last quarter. Engineers Gate Manager LP bought a new stake in shares of Lufax in the second quarter valued at about $60,000. Public Employees Retirement System of Ohio bought a new stake in shares of Lufax during the 2nd quarter valued at $157,000. Finally, Ramsey Quantitative Systems acquired a new stake in Lufax in the second quarter valued at $199,000. 69.14% of the stock is currently owned by hedge funds and other institutional investors.

Lufax Company Profile

Lufax Holding Ltd. (NYSE: LU) is a China-based financial services technology company that operates digital platforms for retail and small-business finance. The company connects consumers and small-business owners with financial products and services through online channels and technology-enabled processes.

Lufax’s business has historically included retail lending, wealth management and related financial services. Its platforms have provided access to consumer and small-business loans, investment products and other services offered in cooperation with financial institutions.