The stock of Lexmark International Inc (NYSE:LXK) hit a new 52-week high and has $51.94 target or 30.00% above today’s $39.95 share price. The 6 months bullish chart indicates low risk for the $2.48B company. The 1-year high was reported on Sep, 30 by Barchart.com. If the $51.94 price target is reached, the company will be worth $744.00M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 3.58 million shares traded hands or 475.80% up from the average. Lexmark International Inc (NYSE:LXK) has risen 16.67% since February 26, 2016 and is uptrending. It has outperformed by 6.25% the S&P500.
Analysts await Lexmark International Inc (NYSE:LXK) to report earnings on October, 25.
Lexmark International Inc (NYSE:LXK) Ratings Coverage
Out of 4 analysts covering Lexmark International Inc. (NYSE:LXK), 0 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 0 are positive. $36.0 is the highest target while $31 is the lowest. The $33.50 average target is -16.15% below today’s ($39.95) stock price. Lexmark International Inc. has been the topic of 8 analyst reports since July 22, 2015 according to StockzIntelligence Inc. As per Thursday, February 18, the company rating was upgraded by Credit Suisse. The company was downgraded on Wednesday, April 20 by Standpoint Research. Standpoint Research upgraded the stock to “Hold” rating in Wednesday, August 26 report. Standpoint Research upgraded the shares of LXK in a report on Thursday, January 7 to “Buy” rating. The firm has “Hold” rating given on Friday, October 23 by Standpoint Research. The rating was upgraded by Citigroup on Wednesday, October 7 to “Neutral”. The stock of Lexmark International Inc (NYSE:LXK) earned “Market Perform” rating by Bernstein on Wednesday, August 5.
According to Zacks Investment Research, “Lexmark International, Inc. makes it easier for businesses and consumers to move information between the digital and paper worlds. In doing so, they are guided by a simple vision: Customers For Life. To earn its customers’ loyalty, they listen to them, anticipate their needs and act to create value in their eyes.”
Insitutional Activity: The institutional sentiment increased to 1.21 in 2016 Q2. Its up 0.19, from 1.02 in 2016Q1. The ratio is positive, as 48 funds sold all Lexmark International Inc shares owned while 55 reduced positions. 50 funds bought stakes while 75 increased positions. They now own 51.48 million shares or 3.46% less from 53.33 million shares in 2016Q1.
Odey Asset Management Group Ltd holds 5.76% of its portfolio in Lexmark International Inc for 1.71 million shares. Halcyon Management Partners Lp owns 575,705 shares or 5.39% of their US portfolio. Moreover, Puplava Financial Services Inc. has 2.54% invested in the company for 119,727 shares. The Arkansas-based Foundation Resource Management Inc has invested 2.32% in the stock. Alpine Associates Management Inc., a New Jersey-based fund reported 1.01 million shares.
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