Price Action To Observe: Is Buying 52-Week Stock Like Lexmark International Inc a Winning Strategy?

Price Action To Observe: Is Buying 52 Week Stock Like Lexmark International Inc a Winning Strategy?

The stock of Lexmark International Inc (NYSE:LXK) hit a new 52-week high and has $44.12 target or 9.00% above today’s $40.48 share price. The 9 months bullish chart indicates low risk for the $2.55B company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $44.12 price target is reached, the company will be worth $229.50M 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. The stock last traded at $40.48 per share. It is up 5.28% since April 25, 2016 and is uptrending. It has underperformed by 0.73% the S&P500.

Analysts await Lexmark International Inc (NYSE:LXK) to report earnings on February, 28. They expect $1.07 earnings per share, down 7.76% or $0.09 from last year’s $1.16 per share. LXK’s profit will be $67.40 million for 9.46 P/E if the $1.07 EPS becomes a reality. After $0.77 actual earnings per share reported by Lexmark International Inc for the previous quarter, Wall Street now forecasts 38.96% EPS growth.

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 rating was upgraded by Credit Suisse on Thursday, February 18 to “Neutral”. Standpoint Research downgraded the stock to “Hold” rating in Wednesday, April 20 report. On Thursday, January 7 the stock rating was upgraded by Standpoint Research to “Buy”. On Friday, October 23 the stock rating was downgraded by Standpoint Research to “Hold”. The company was upgraded on Wednesday, August 26 by Standpoint Research. The company was upgraded on Wednesday, October 7 by Citigroup. The rating was upgraded by Bernstein to “Market Perform” 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 decreased to 1.1 in Q2 2016. Its down 0.11, from 1.21 in 2016Q1. The ratio fall, 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.
Ionic Cap Limited Liability Company reported 28,871 shares or 0.05% of all its holdings. Moreover, Aqr Capital Mgmt Ltd Liability Corp has 0.04% invested in Lexmark International Inc (NYSE:LXK) for 672,432 shares. Retirement System Of Alabama holds 0.02% or 80,806 shares in its portfolio. Ancora Advsrs Limited Company has 54,500 shares for 0.24% of their US portfolio. Odey Asset Mgmt Gp Ltd has 5.76% invested in the company for 1.71M shares. Glg Partners Ltd Partnership, a United Kingdom-based fund reported 1.20M shares. Jpmorgan Chase And has 1.02 million shares for 0.01% of their US portfolio. First Eagle Invest Mgmt Ltd holds 348,336 shares or 0.03% of its portfolio. Tfs Lc has invested 0.29% of its portfolio in Lexmark International Inc (NYSE:LXK). Babson Mgmt Ltd Liability, a Massachusetts-based fund reported 8,100 shares. Legacy Private Trust has 5,443 shares for 0.03% of their US portfolio. The Maryland-based Price T Rowe Associate Md has invested 0% in Lexmark International Inc (NYSE:LXK). Ubs Asset Mgmt Americas Inc last reported 0% of its portfolio in the stock. New York State Common Retirement Fund holds 0.01% or 188,560 shares in its portfolio. Lsv Asset Mgmt accumulated 0.23% or 2.92 million shares.

More notable recent Lexmark International Inc (NYSE:LXK) news were published by: Forbes.com which released: “Ex-Dividend Reminder: Fair Isaac, Analog Devices and Lexmark International” on November 28, 2016, also Fool.com with their article: “Lexmark International Inc. Stock Jumps as Buyout Looks Close” published on September 30, 2016, Forbes.com published: “Lexmark International is Oversold” on September 27, 2016. More interesting news about Lexmark International Inc (NYSE:LXK) were released by: Fool.com and their article: “Why Lexmark International Inc. Shares Jumped” published on April 20, 2016 as well as Prnewswire.com‘s news article titled: “Lexmark declares quarterly dividend” with publication date: October 28, 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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