Zacks Investment Research upgraded shares of BEST (NYSE:BSTI) from a sell rating to a hold rating in a report released on Tuesday.
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 also recently issued reports on BSTI. KeyCorp lowered their price objective on BEST from $14.00 to $13.00 and set a buy rating for the company in a research report on Thursday, July 19th. JPMorgan Chase & Co. lowered their price objective on BEST from $14.80 to $12.00 and set an overweight rating for the company in a research report on Friday, August 10th. Finally, Macquarie upgraded BEST from a neutral rating to an outperform rating and set a $8.00 price objective for the company in a research report on Wednesday, September 12th. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. BEST currently has an average rating of Buy and a consensus price target of $11.40.
BEST (NYSE:BSTI) last issued its quarterly earnings data on Wednesday, August 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.01. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.12 billion. On average, research analysts predict that BEST will post -0.15 EPS for the current fiscal year.
Institutional investors and hedge funds have recently modified their holdings of the company. OppenheimerFunds Inc. acquired a new stake in BEST during the second quarter worth approximately $87,381,000. Tiger Pacific Capital LP grew its stake in BEST by 75.2% during the second quarter. Tiger Pacific Capital LP now owns 4,581,042 shares of the company’s stock worth $55,980,000 after purchasing an additional 1,966,188 shares during the period. WIM Asset Management HK Ltd acquired a new stake in BEST during the second quarter worth approximately $23,193,000. Indus Capital Partners LLC acquired a new stake in BEST during the second quarter worth approximately $7,528,000. Finally, Pendal Group Ltd grew its stake in BEST by 108.5% during the second quarter. Pendal Group Ltd now owns 985,361 shares of the company’s stock worth $12,041,000 after purchasing an additional 512,789 shares during the period. Institutional investors own 18.54% 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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