Lenovo Group (OTCMKTS:LNVGY) Hits New 52-Week High – Should You Buy?

Lenovo Group Ltd. (OTCMKTS:LNVGY) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $49.50 and last traded at $48.53, with a volume of 129812 shares. The stock had previously closed at $46.73.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded shares of Lenovo Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 10th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold”.

Lenovo Group Trading Up 3.9%

The business’s 50-day moving average price is $29.32 and its 200 day moving average price is $26.06. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.96 and a quick ratio of 0.71. The firm has a market capitalization of $30.10 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 2.03 and a beta of 0.78.

Lenovo Group (OTCMKTS:LNVGY) last posted its earnings results on Thursday, May 21st. The technology company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.28. Lenovo Group had a net margin of 2.30% and a return on equity of 28.52%. The business had revenue of $21.59 billion for the quarter, compared to analysts’ expectations of $19.39 billion. On average, equities analysts forecast that Lenovo Group Ltd. will post 2.25 earnings per share for the current fiscal year.

About Lenovo Group

Lenovo Group is a multinational technology company known primarily for the design, manufacture and sale of personal computers, servers, storage and smart devices. Its product portfolio spans consumer and commercial PCs (notable brands include ThinkPad, IdeaPad, Yoga and Legion), workstations, enterprise-class ThinkSystem servers and storage, as well as tablets, smartphones (notably through its Motorola Mobility acquisition), smart home devices and related software. Lenovo also provides IT services and solutions, including systems integration, managed services and lifecycle support for enterprise customers.

The company traces its origins to 1984 when it was founded in Beijing as Legend by Liu Chuanzhi; it later adopted the Lenovo name and expanded through a series of strategic acquisitions.