Lazard (NYSE:LAZ) Stock Price Expected to Rise, UBS Group Analyst Says

Lazard (NYSE:LAZ) had its target price lifted by research analysts at UBS Group from $50.00 to $54.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the asset manager’s stock. UBS Group’s target price would suggest a potential upside of 3.46% from the stock’s previous close.

A number of other analysts also recently weighed in on the company. JMP Securities increased their price objective on Lazard from $55.00 to $59.00 and gave the company a “market outperform” rating in a report on Friday, November 1st. Wells Fargo & Company upped their target price on Lazard from $51.00 to $55.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Wolfe Research downgraded shares of Lazard from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Morgan Stanley boosted their target price on shares of Lazard from $60.00 to $63.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Finally, Keefe, Bruyette & Woods increased their price target on Lazard from $52.00 to $57.00 and gave the stock a “market perform” rating in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Lazard has an average rating of “Hold” and a consensus price target of $55.33.

Lazard Trading Down 1.5 %

LAZ opened at $52.20 on Monday. Lazard has a 1-year low of $35.56 and a 1-year high of $61.14. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 2.72. The company has a market cap of $5.89 billion, a P/E ratio of 19.62 and a beta of 1.41. The company’s 50 day moving average is $52.57 and its 200-day moving average is $51.06.

Lazard (NYSE:LAZ) last issued its earnings results on Thursday, January 30th. The asset manager reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.09. Lazard had a return on equity of 44.58% and a net margin of 8.98%. Equities research analysts predict that Lazard will post 3.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lazard

Hedge funds and other institutional investors have recently made changes to their positions in the business. Berbice Capital Management LLC acquired a new position in Lazard during the 4th quarter valued at about $46,000. Abich Financial Wealth Management LLC purchased a new position in shares of Lazard during the third quarter valued at approximately $50,000. Roxbury Financial LLC purchased a new position in shares of Lazard during the fourth quarter valued at approximately $53,000. Geneos Wealth Management Inc. bought a new stake in Lazard during the fourth quarter worth $60,000. Finally, HHM Wealth Advisors LLC raised its position in Lazard by 209.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 1,267 shares of the asset manager’s stock valued at $65,000 after buying an additional 857 shares during the last quarter. 54.80% of the stock is owned by institutional investors.

About Lazard

Lazard, Inc, together with its subsidiaries, operates as a financial advisory and asset management firm in North and South America, Europe, the Middle East, Asia, and Australia. It operates in two segments, Financial Advisory and Asset Management. The Financial Advisory segment offers financial advisory services, such as mergers and acquisitions, capital markets, shareholder, sovereign, geopolitical advisory, and other strategic advisory services, as well as restructuring and liability management, and capital raising and placement services.