LexinFintech (NASDAQ:LX) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of LexinFintech (NASDAQ:LX) from a buy rating to a hold rating in a report released on Thursday, Zacks.com reports.

According to Zacks, “LexinFintech Holdings Ltd. is an online consumer finance platform for educated young adults primarily in China. The Company provide technologies including big data, cloud computing and artificial intelligence. LexinFintech Holdings Ltd. is based in China. “

Several other research firms also recently issued reports on LX. ValuEngine raised LexinFintech from a strong sell rating to a sell rating in a research note on Monday, November 4th. TheStreet downgraded LexinFintech from a c- rating to a d+ rating in a research note on Friday, October 11th. BOCOM International initiated coverage on LexinFintech in a research note on Thursday, October 10th. They issued a buy rating and a $12.34 price objective for the company. Finally, Credit Suisse Group began coverage on LexinFintech in a research note on Tuesday, October 8th. They issued an outperform rating and a $17.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. LexinFintech currently has a consensus rating of Buy and a consensus target price of $15.99.

Shares of LexinFintech stock traded down $1.05 on Thursday, hitting $15.02. The stock had a trading volume of 2,580,297 shares, compared to its average volume of 2,459,293. The stock has a 50 day moving average of $13.50 and a 200 day moving average of $11.57. LexinFintech has a twelve month low of $8.43 and a twelve month high of $16.93. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.69 and a current ratio of 1.71. The firm has a market capitalization of $2.92 billion, a P/E ratio of 7.19, a PEG ratio of 0.40 and a beta of 2.06.

LexinFintech (NASDAQ:LX) last released its quarterly earnings data on Monday, November 18th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.01. LexinFintech had a return on equity of 52.47% and a net margin of 26.99%. The company had revenue of $446.02 million during the quarter. Equities analysts expect that LexinFintech will post 1.99 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in LX. Man Group plc grew its position in shares of LexinFintech by 210.1% during the 3rd quarter. Man Group plc now owns 2,405,692 shares of the company’s stock worth $24,129,000 after buying an additional 1,629,899 shares during the period. Bank of America Corp DE lifted its holdings in shares of LexinFintech by 842.2% in the 2nd quarter. Bank of America Corp DE now owns 1,106,935 shares of the company’s stock worth $12,354,000 after purchasing an additional 989,450 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new position in shares of LexinFintech in the 2nd quarter worth $5,143,000. D. E. Shaw & Co. Inc. lifted its holdings in shares of LexinFintech by 222.7% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 476,511 shares of the company’s stock worth $5,318,000 after purchasing an additional 328,828 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of LexinFintech by 310.7% in the 3rd quarter. Millennium Management LLC now owns 396,540 shares of the company’s stock worth $3,977,000 after purchasing an additional 299,997 shares in the last quarter. 18.96% of the stock is owned by institutional investors.

LexinFintech Company Profile

LexinFintech Holdings Ltd., through its subsidiaries, operates as an online consumer finance platform for young adults in the People's Republic of China. The company operates Fenqile.com, a retail and online consumer finance platform that offers installment purchase loans, personal installment loans, and other loan products, as well as provides online direct sales with installment payment terms.

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