Lyft (NASDAQ:LYFT) Given “Sector Weight” Rating at KeyCorp

Lyft (NASDAQ:LYFT)‘s stock had its “sector weight” rating reiterated by analysts at KeyCorp in a research note issued on Wednesday,Benzinga reports.

A number of other equities analysts have also recently weighed in on the stock. Susquehanna lowered their price objective on shares of Lyft from $18.00 to $15.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Needham & Company LLC restated a “hold” rating on shares of Lyft in a research report on Monday. Loop Capital cut their price objective on Lyft from $23.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. JPMorgan Chase & Co. lowered their target price on Lyft from $19.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Finally, Barclays dropped their target price on Lyft from $20.00 to $19.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 12th. Twenty-seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $17.03.

Lyft Stock Up 0.1 %

Shares of LYFT opened at $12.50 on Wednesday. Lyft has a 52-week low of $8.93 and a 52-week high of $20.37. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.74. The stock has a fifty day simple moving average of $13.02 and a two-hundred day simple moving average of $13.82. The company has a market capitalization of $5.23 billion, a PE ratio of 208.83, a price-to-earnings-growth ratio of 1.90 and a beta of 2.15.

Lyft (NASDAQ:LYFT) last released its quarterly earnings data on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.10). Lyft had a return on equity of 8.03% and a net margin of 0.39%. As a group, equities analysts forecast that Lyft will post 0.22 EPS for the current year.

Lyft declared that its Board of Directors has initiated a stock buyback program on Tuesday, February 11th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the ride-sharing company to repurchase up to 8.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Lyft

In related news, Director John Patrick Zimmer sold 2,424 shares of Lyft stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $12.52, for a total value of $30,348.48. Following the transaction, the director now directly owns 911,922 shares in the company, valued at $11,417,263.44. This trade represents a 0.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Logan Green sold 11,411 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $13.34, for a total transaction of $152,222.74. Following the transaction, the director now owns 297,640 shares of the company’s stock, valued at approximately $3,970,517.60. The trade was a 3.69 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,407 shares of company stock worth $203,778. 3.07% of the stock is owned by company insiders.

Institutional Trading of Lyft

Several hedge funds and other institutional investors have recently made changes to their positions in the company. QRG Capital Management Inc. lifted its position in Lyft by 3.8% in the fourth quarter. QRG Capital Management Inc. now owns 24,493 shares of the ride-sharing company’s stock valued at $316,000 after purchasing an additional 903 shares during the period. Sanctuary Advisors LLC raised its stake in shares of Lyft by 3.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 28,454 shares of the ride-sharing company’s stock worth $363,000 after buying an additional 969 shares in the last quarter. Guggenheim Capital LLC lifted its holdings in shares of Lyft by 6.4% in the 4th quarter. Guggenheim Capital LLC now owns 16,023 shares of the ride-sharing company’s stock valued at $207,000 after buying an additional 970 shares during the period. XTX Topco Ltd boosted its stake in shares of Lyft by 2.5% in the third quarter. XTX Topco Ltd now owns 42,203 shares of the ride-sharing company’s stock valued at $538,000 after buying an additional 1,043 shares in the last quarter. Finally, US Bancorp DE grew its holdings in Lyft by 2.6% during the fourth quarter. US Bancorp DE now owns 41,539 shares of the ride-sharing company’s stock worth $536,000 after acquiring an additional 1,045 shares during the period. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Lyft Company Profile

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It operates multimodal transportation networks that offer access to various transportation options through the Lyft platform and mobile-based applications. The company's platform provides a ridesharing marketplace, which connects drivers with riders; Express Drive, a car rental program for drivers; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.