ValuEngine Downgrades LexinFintech (NASDAQ:LX) to Sell

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ValuEngine lowered shares of LexinFintech (NASDAQ:LX) from a hold rating to a sell rating in a research report report published on Monday morning, ValuEngine reports.

Several other research analysts also recently weighed in on LX. China Renaissance Securities reissued a buy rating and issued a $18.00 target price on shares of LexinFintech in a research report on Tuesday, May 14th. BNP Paribas raised shares of LexinFintech from a hold rating to a buy rating and set a $12.60 target price on the stock in a research report on Friday, May 10th. Finally, Zacks Investment Research raised shares of LexinFintech from a hold rating to a buy rating and set a $12.00 target price on the stock in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $15.15.

NASDAQ LX opened at $10.18 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.45 and a quick ratio of 1.44. The company’s 50 day simple moving average is $11.08 and its 200 day simple moving average is $11.63. LexinFintech has a 12 month low of $6.48 and a 12 month high of $14.66. The company has a market capitalization of $1.68 billion, a P/E ratio of 6.01 and a beta of 1.99.

LexinFintech (NASDAQ:LX) last released its earnings results on Friday, May 17th. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.19. The business had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.90 billion. LexinFintech had a net margin of 27.22% and a return on equity of 59.67%. The business’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.14 EPS. On average, analysts anticipate that LexinFintech will post 1.83 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in LX. TT International bought a new stake in LexinFintech in the first quarter worth approximately $67,505,000. FMR LLC grew its position in LexinFintech by 254.8% in the fourth quarter. FMR LLC now owns 3,782,056 shares of the company’s stock worth $27,420,000 after acquiring an additional 2,715,988 shares in the last quarter. Bamco Inc. NY bought a new stake in LexinFintech in the second quarter worth approximately $22,876,000. Renaissance Technologies LLC grew its position in LexinFintech by 278.3% in the second quarter. Renaissance Technologies LLC now owns 1,558,528 shares of the company’s stock worth $17,393,000 after acquiring an additional 1,146,514 shares in the last quarter. Finally, GAM Holding AG bought a new stake in LexinFintech in the second quarter worth approximately $11,641,000. 16.04% of the stock is currently owned by hedge funds and other 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.

See Also: Outstanding Shares

To view ValuEngine’s full report, visit ValuEngine’s official website.

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