ValuEngine Downgrades LexinFintech (NASDAQ:LX) to Sell

ValuEngine cut shares of LexinFintech (NASDAQ:LX) from a hold rating to a sell rating in a research report sent to investors on Monday, ValuEngine reports.

Other equities research analysts have also issued research reports about the stock. China Renaissance Securities reaffirmed a buy rating and issued a $18.00 target price on shares of LexinFintech in a report on Tuesday, May 14th. 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 report on Friday, July 26th. Finally, 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 report on Friday, May 10th. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $15.15.

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

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

A number of large investors have recently modified their holdings of LX. Bamco Inc. NY acquired a new stake in shares of LexinFintech in the 2nd quarter valued at approximately $22,876,000. Pictet Asset Management Ltd. raised its holdings in LexinFintech by 254.7% during the 2nd quarter. Pictet Asset Management Ltd. now owns 266,476 shares of the company’s stock worth $2,974,000 after buying an additional 191,339 shares during the period. Price T Rowe Associates Inc. MD acquired a new stake in LexinFintech during the 2nd quarter worth approximately $5,143,000. Jane Street Group LLC acquired a new stake in LexinFintech during the 2nd quarter worth approximately $294,000. Finally, D. E. Shaw & Co. Inc. raised its holdings in LexinFintech by 222.7% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 476,511 shares of the company’s stock worth $5,318,000 after buying an additional 328,828 shares during the period. 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.

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