BEST (NYSE:BSTI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.
According to Zacks, “BEST Inc. offers logistics and supply chain management solutions. The Company’s service offerings include BEST supply chain management, BEST express, BEST freight, BEST store , BEST global, BEST cargo and BEST Ucargo serves which provide express and freight delivery, inventory management, warehousing, financing, cross-border supply chain, merchandise sourcing, and value-added services. It operates primarily in United States, Germany, Australia, Japan and Canada. BEST Inc. is based in Hangzhou, China. “
A number of other equities analysts have also weighed in on the stock. Macquarie upgraded shares of BEST from a “neutral” rating to an “outperform” rating and set a $8.00 price target on the stock in a report on Wednesday, September 12th. They noted that the move was a valuation call. JPMorgan Chase & Co. reduced their target price on shares of BEST from $14.80 to $12.00 and set an “overweight” rating on the stock in a report on Friday, August 10th. Finally, KeyCorp reduced their target price on shares of BEST from $13.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, August 9th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $10.80.
Shares of BSTI traded down $0.10 during mid-day trading on Monday, reaching $5.52. The company had a trading volume of 481,100 shares, compared to its average volume of 1,214,078. The firm has a market cap of $2.07 billion, a PE ratio of -4.35 and a beta of -1.80. BEST has a fifty-two week low of $4.67 and a fifty-two week high of $13.54.
BEST (NYSE:BSTI) last announced its quarterly earnings results on Friday, November 9th. The company reported ($0.05) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.03). The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.05 billion. Equities research analysts anticipate that BEST will post -0.17 EPS for the current year.
Large investors have recently bought and sold shares of the stock. Wells Fargo & Company MN increased its position in shares of BEST by 9.1% in the 3rd quarter. Wells Fargo & Company MN now owns 8,385,061 shares of the company’s stock worth $49,640,000 after purchasing an additional 701,114 shares during the last quarter. OppenheimerFunds Inc. bought a new stake in shares of BEST in the 2nd quarter worth about $87,381,000. Fosun International Ltd bought a new stake in shares of BEST in the 3rd quarter worth about $39,273,000. Vanguard Group Inc. increased its position in shares of BEST by 6.7% in the 3rd quarter. Vanguard Group Inc. now owns 5,695,499 shares of the company’s stock worth $33,717,000 after purchasing an additional 357,716 shares during the last quarter. Finally, Tiger Pacific Capital LP increased its position in shares of BEST by 1.9% in the 3rd quarter. Tiger Pacific Capital LP now owns 4,669,324 shares of the company’s stock worth $27,642,000 after purchasing an additional 88,282 shares during the last quarter. Institutional investors and hedge funds own 19.72% of the company’s stock.
BEST Company Profile
BEST Inc operates as a smart supply chain service provider in the People's Republic of China. Its proprietary technology platform enables its ecosystem participants to operate their businesses through various SaaS-based applications. The company applies its technologies to a range of applications, such as network and route optimization, swap bodies, sorting line automation, smart warehouses, and store management.
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