Lazard (NYSE:LAZ) Price Target Raised to $57.00 at Keefe, Bruyette & Woods

Lazard (NYSE:LAZ) had its price objective lifted by stock analysts at Keefe, Bruyette & Woods from $52.00 to $57.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “market perform” rating on the asset manager’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 4.55% from the company’s current price.

LAZ has been the subject of several other research reports. The Goldman Sachs Group dropped their price target on Lazard from $51.00 to $44.00 and set a “sell” rating for the company in a research report on Wednesday, January 15th. Wolfe Research lowered Lazard from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. JMP Securities boosted their target price on Lazard from $55.00 to $59.00 and gave the company a “market outperform” rating in a research report on Friday, November 1st. Wells Fargo & Company boosted their target price on Lazard from $51.00 to $55.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, Morgan Stanley boosted their target price on Lazard from $60.00 to $63.00 and gave the company an “equal weight” rating in a research report on Friday. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Lazard has an average rating of “Hold” and a consensus price target of $55.00.

Lazard Trading Down 1.2 %

LAZ opened at $54.52 on Friday. The firm has a market cap of $6.15 billion, a P/E ratio of 21.72 and a beta of 1.40. Lazard has a 12 month low of $35.56 and a 12 month 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 stock has a 50-day moving average of $52.82 and a 200 day moving average of $50.92.

Lazard (NYSE:LAZ) last released its quarterly earnings results on Thursday, January 30th. The asset manager reported $0.78 EPS for the quarter, topping the consensus estimate of $0.69 by $0.09. Lazard had a return on equity of 42.20% and a net margin of 8.28%. As a group, research analysts forecast that Lazard will post 2.06 EPS for the current year.

Institutional Trading of Lazard

Several institutional investors and hedge funds have recently modified their holdings of the stock. Callahan Advisors LLC raised its stake in shares of Lazard by 15.6% during the fourth quarter. Callahan Advisors LLC now owns 52,965 shares of the asset manager’s stock valued at $2,727,000 after acquiring an additional 7,151 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in shares of Lazard during the fourth quarter valued at approximately $108,000. Truist Financial Corp raised its stake in shares of Lazard by 3.7% during the fourth quarter. Truist Financial Corp now owns 20,787 shares of the asset manager’s stock valued at $1,070,000 after acquiring an additional 750 shares in the last quarter. Monument Capital Management bought a new stake in shares of Lazard during the fourth quarter valued at approximately $2,809,000. Finally, Strategic Financial Concepts LLC bought a new position in Lazard in the fourth quarter worth approximately $530,000. Institutional investors own 54.80% of the company’s stock.

Lazard Company Profile

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.