The stock of Lexmark International Inc (NYSE:LXK) hit a new 52-week high and has $57.90 target or 44.00% above today’s $40.21 share price. The 7 months bullish chart indicates low risk for the $2.52B company. The 1-year high was reported on Oct, 10 by Barchart.com. If the $57.90 price target is reached, the company will be worth $1.11B 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 73,590 shares traded hands. Lexmark International Inc (NYSE:LXK) has risen 19.61% since March 7, 2016 and is uptrending. It has outperformed by 12.01% 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. Lexmark International Inc. has been the topic of 8 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The stock has “Neutral” rating given by Credit Suisse on Thursday, February 18. Standpoint Research downgraded Lexmark International Inc (NYSE:LXK) on Wednesday, April 20 to “Hold” rating. Citigroup upgraded the stock to “Neutral” rating in Wednesday, October 7 report. The firm earned “Hold” rating on Friday, October 23 by Standpoint Research. The firm has “Market Perform” rating given on Wednesday, August 5 by Bernstein. The stock has “Buy” rating given by Standpoint Research on Thursday, January 7. The rating was upgraded by Standpoint Research on Wednesday, August 26 to “Hold”.
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.
Raymond James Service Advsr holds 14,116 shares or 0.01% of its portfolio. Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Inv Management has invested 0.1% of its portfolio in Lexmark International Inc (NYSE:LXK). Vantage Inv Advsrs Lc reported 800 shares or 0.01% of all its holdings. Teachers Retirement Systems Of The State Of Kentucky holds 11,700 shares or 0.01% of its portfolio. The Massachusetts-based State Street Corporation has invested 0.01% in Lexmark International Inc (NYSE:LXK). Halcyon Mngmt Partners L P holds 5.39% of its portfolio in Lexmark International Inc (NYSE:LXK) for 575,705 shares. Teacher Retirement Sys Of Texas, a Texas-based fund reported 8,641 shares. Cap Fund Sa last reported 7,322 shares in the company. Indexiq Limited Liability Corp last reported 0.2% of its portfolio in the stock. Cna Fincl Corp, a Illinois-based fund reported 13,700 shares. Ig Investment Mgmt Ltd last reported 0% of its portfolio in the stock. Paloma Prtn Mngmt has 20,888 shares for 0.01% of their US portfolio. The Pennsylvania-based Glenmede Trust Na has invested 0% in Lexmark International Inc (NYSE:LXK). Price T Rowe Associates Inc Md reported 31,127 shares or 0% of all its holdings. Vanguard Gru, a Pennsylvania-based fund reported 4.58M shares.
More notable recent Lexmark International Inc (NYSE:LXK) news were published by: Fool.com which released: “Lexmark International Inc. Stock Jumps as Buyout Looks Close” on September 30, 2016, also Natlawreview.com with their article: “CFIUS Clearance: Consortium led by Apex Technology and Lexmark International Inc.” published on October 04, 2016, Investorplace.com published: “Why Deutsche Bank AG (DB), Lexmark International Inc (LXK) and NXP …” on September 30, 2016. More interesting news about Lexmark International Inc (NYSE:LXK) were released by: Forbes.com and their article: “Lexmark International is Oversold” published on July 14, 2016 as well as Fool.com‘s news article titled: “Why Lexmark International Inc. Shares Jumped” with publication date: April 20, 2016.
LXK Company Profile
Lexmark International, Inc., incorporated on May 25, 1990, is a developer, maker and supplier of printing, imaging, device management, managed print services (MPS), document workflow, and business process and content management solutions. The Firm operates through two divisions: Imaging Solutions and Services (ISS) and Enterprise Software. The Firm operates in the office printing and imaging, enterprise content management (ECM), business process management (BPM), document output management (DOM)/customer communications management (CCM), intelligent content capture and data extraction and enterprise search software markets. The Company’s products include laser printers and multifunction devices, dot matrix printers and the associated supplies/solutions/services. They also include an integrated suite of ECM, BPM and DOM/CCM that includes case management, electronic signature, process analytics, information and application integration, intelligent content capture and data extraction, enterprise search and medical imaging vendor neutral archive (VNA) software products and solutions. The Firm develops and owns the technology for its printing and imaging products and its software related to MPS and content and process management solutions.
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