Lazard (NYSE:LAZ) was upgraded by equities researchers at TheStreet from a “c+” rating to a “b” rating in a report issued on Thursday.

Several other equities research analysts have also recently commented on LAZ. Zacks Investment Research cut shares of Lazard from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Instinet upgraded shares of Lazard from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 3rd. Nomura upgraded shares of Lazard from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $46.00 to $62.00 in a report on Wednesday, January 3rd. Goldman Sachs upgraded shares of Lazard from a “neutral” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Monday, January 8th. Finally, Sandler O’Neill restated a “buy” rating and set a $64.00 price objective on shares of Lazard in a report on Thursday, January 11th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $60.13.

Shares of NYSE:LAZ opened at $53.50 on Thursday. Lazard has a one year low of $40.50 and a one year high of $60.00. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.95. The company has a market cap of $6,955.46, a PE ratio of 14.15, a price-to-earnings-growth ratio of 1.46 and a beta of 1.85.

Lazard (NYSE:LAZ) last issued its quarterly earnings results on Thursday, April 26th. The asset manager reported $1.26 EPS for the quarter, topping the consensus estimate of $1.04 by $0.22. Lazard had a net margin of 10.81% and a return on equity of 42.46%. The company had revenue of $724.00 million during the quarter, compared to analysts’ expectations of $652.99 million. During the same quarter in the previous year, the company earned $0.83 EPS. Lazard’s revenue was up 16.0% on a year-over-year basis. equities research analysts forecast that Lazard will post 4.08 earnings per share for the current fiscal year.

In related news, CAO Scott D. Hoffman sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $52.13, for a total transaction of $781,950.00. Following the completion of the transaction, the chief accounting officer now owns 147,341 shares in the company, valued at $7,680,886.33. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Alexander F. Stern sold 65,160 shares of the business’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $53.12, for a total transaction of $3,461,299.20. Following the transaction, the chief operating officer now owns 276,886 shares of the company’s stock, valued at approximately $14,708,184.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 95,320 shares of company stock valued at $5,053,854. Corporate insiders own 2.76% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in LAZ. Denali Advisors LLC acquired a new position in shares of Lazard in the fourth quarter valued at approximately $105,000. Advisory Services Network LLC boosted its holdings in shares of Lazard by 83.2% in the fourth quarter. Advisory Services Network LLC now owns 2,151 shares of the asset manager’s stock valued at $113,000 after buying an additional 977 shares during the period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC acquired a new position in shares of Lazard in the fourth quarter valued at approximately $125,000. First Dallas Securities Inc. acquired a new position in shares of Lazard in the fourth quarter valued at approximately $127,000. Finally, American International Group Inc. acquired a new position in shares of Lazard in the fourth quarter valued at approximately $144,000. Institutional investors own 72.32% of the company’s stock.

About Lazard

Lazard Ltd, together with its subsidiaries, operates as a financial advisory and asset management firm worldwide. Its Financial Advisory segment offers various financial advisory services regarding mergers and acquisitions and other strategic matters, restructurings, capital structure, capital raising, shareholder advisory, and various other financial matters.

Analyst Recommendations for Lazard (NYSE:LAZ)

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