Zacks Investment Research Upgrades Leucadia National Corporation (LUK) to Buy

Leucadia National Corporation (NYSE:LUK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm currently has a $28.00 price objective on the conglomerate’s stock. Zacks Investment Research‘s price target points to a potential upside of 11.46% from the stock’s previous close.

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 also outperformed the industry year to date. However, high network maintenance costs to prevent any intrusion and data theft of confidential client information strain margins for the company.”

Separately, BidaskClub lowered shares of Leucadia National Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, August 11th.

Shares of Leucadia National Corporation (NYSE LUK) traded up 0.537% during midday trading on Tuesday, reaching $25.255. 434,910 shares of the company were exchanged. Leucadia National Corporation has a 52-week low of $17.87 and a 52-week high of $27.34. The company has a market capitalization of $9.06 billion, a P/E ratio of 14.970 and a beta of 1.27. The stock has a 50-day moving average price of $24.07 and a 200 day moving average price of $25.28.

Leucadia National Corporation (NYSE:LUK) last issued its quarterly earnings results on Thursday, July 27th. The conglomerate reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.14). Leucadia National Corporation had a net margin of 5.94% and a return on equity of 6.27%. The business had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.65 billion. During the same quarter in the previous year, the firm posted $0.15 earnings per share. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. Equities research analysts expect that Leucadia National Corporation will post $1.27 EPS for the current fiscal year.

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Several institutional investors have recently added to or reduced their stakes in LUK. Ameritas Investment Partners Inc. acquired a new position in shares of Leucadia National Corporation during the 1st quarter worth about $202,000. Savant Capital LLC acquired a new position in shares of Leucadia National Corporation during the 2nd quarter worth about $202,000. Eagle Global Advisors LLC acquired a new position in shares of Leucadia National Corporation during the 2nd quarter worth about $219,000. Two Sigma Securities LLC acquired a new position in shares of Leucadia National Corporation during the 1st quarter worth about $227,000. Finally, Profund Advisors LLC acquired a new position in shares of Leucadia National Corporation during the 2nd quarter worth about $239,000. Institutional investors own 74.66% of the company’s stock.

Leucadia National Corporation Company Profile

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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