Leucadia National (NYSE:LUK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The firm currently has a $28.00 target price on the conglomerate’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 12.13% from the stock’s current price.
According to Zacks, “Leucadia’s performance in the debt capital market has improved with solid contribution from equity capital markets, advisory activities and a favorable sales and trading environment. With significant margin contribution from National Beef and other businesses, Leucadia remains well positioned to grow. The company’s businesses have separate revenue streams that move according to their own cycle and mitigate operating risks. A pro-growth business environment with a lower corporate tax structure should bode well for the economy and financial markets in general and Jefferies in particular. In addition, Trump’s plan to spend $1 trillion in infrastructure projects over a period of 10 years and regulatory rollbacks augur well. The company outperformed the industry in the last three months. However, high network maintenance costs to prevent any intrusion and data theft of confidential client information strain margins for the company.”
Separately, TheStreet upgraded Leucadia National from a “c+” rating to a “b-” rating in a research note on Friday, November 3rd.
Leucadia National (LUK) opened at $24.97 on Thursday. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.67 and a quick ratio of 0.67. The company has a market capitalization of $8,881.89, a PE ratio of 16.11, a PEG ratio of 0.85 and a beta of 1.24. Leucadia National has a 12 month low of $22.23 and a 12 month high of $28.30.
A number of hedge funds have recently added to or reduced their stakes in LUK. American Century Companies Inc. grew its position in Leucadia National by 50.9% during the third quarter. American Century Companies Inc. now owns 2,531,865 shares of the conglomerate’s stock worth $63,930,000 after buying an additional 854,352 shares in the last quarter. First Trust Advisors LP grew its position in Leucadia National by 1,142.7% during the third quarter. First Trust Advisors LP now owns 911,133 shares of the conglomerate’s stock worth $23,006,000 after buying an additional 837,812 shares in the last quarter. PGGM Investments acquired a new stake in Leucadia National during the third quarter worth about $19,996,000. Amundi Pioneer Asset Management Inc. acquired a new stake in Leucadia National during the fourth quarter worth about $12,882,000. Finally, Bogle Investment Management L P DE grew its position in Leucadia National by 1,158.1% during the fourth quarter. Bogle Investment Management L P DE now owns 493,046 shares of the conglomerate’s stock worth $13,060,000 after buying an additional 453,856 shares in the last quarter. 74.36% of the stock is currently owned by institutional investors and hedge funds.
About Leucadia National
Leucadia National Corporation (Leucadia) is a diversified holding company focused on return on investment and long-term value. The Company’s segments, based on requirements are Jefferies, National Beef, and Corporate and other. Jefferies is a global full-service, integrated securities and investment banking firm.
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