Yirendai (NYSE:YRD) Upgraded by Zacks Investment Research to “Buy”

Yirendai (NYSE:YRD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, November 17th. The firm presently has a $46.00 price target on the technology company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 35.65% from the company’s previous close.

According to Zacks, “Yirendai Ltd. is involved in the online consumer finance business. Yirendai Ltd. is based in Beijing, China. “

A number of other equities research analysts have also commented on YRD. Needham & Company LLC restated a “buy” rating and set a $42.00 price target (up from $33.00) on shares of Yirendai in a research report on Tuesday, August 1st. They noted that the move was a valuation call. ValuEngine downgraded Yirendai from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 1st. Macquarie initiated coverage on Yirendai in a report on Tuesday, November 14th. They set an “outperform” rating and a $60.00 price objective on the stock. Finally, Citigroup initiated coverage on Yirendai in a report on Tuesday, November 14th. They set a “buy” rating on the stock. Five analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and an average target price of $52.00.

Shares of Yirendai (NYSE:YRD) opened at $33.91 on Friday. Yirendai has a 12 month low of $19.85 and a 12 month high of $53.50. The firm has a market capitalization of $2,237.26, a P/E ratio of 11.89 and a beta of 7.82.

Yirendai (NYSE:YRD) last released its quarterly earnings data on Tuesday, November 14th. The technology company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.04). The company had revenue of $227.50 million during the quarter, compared to the consensus estimate of $201.27 million. Yirendai had a net margin of 27.09% and a return on equity of 70.10%. The company’s revenue for the quarter was up 73.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.85 earnings per share. equities analysts expect that Yirendai will post 3.15 EPS for the current year.

Several hedge funds have recently bought and sold shares of YRD. Principal Financial Group Inc. raised its stake in Yirendai by 4.2% during the 2nd quarter. Principal Financial Group Inc. now owns 31,505 shares of the technology company’s stock worth $788,000 after buying an additional 1,283 shares during the period. Bank of America Corp DE raised its stake in Yirendai by 24.5% during the 1st quarter. Bank of America Corp DE now owns 7,644 shares of the technology company’s stock worth $192,000 after buying an additional 1,504 shares during the period. Navellier & Associates Inc raised its stake in Yirendai by 11.5% during the 2nd quarter. Navellier & Associates Inc now owns 18,048 shares of the technology company’s stock worth $451,000 after buying an additional 1,861 shares during the period. Bank of New York Mellon Corp raised its stake in Yirendai by 4.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 76,242 shares of the technology company’s stock worth $3,198,000 after buying an additional 3,023 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Yirendai by 2,216.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,173 shares of the technology company’s stock worth $137,000 after buying an additional 3,036 shares during the period. 8.82% of the stock is currently owned by institutional investors.

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Yirendai Company Profile

Yirendai Ltd. is engaged in online consumer finance marketplace business in China. The Company conducts its business in China, through Yi Ren Heng Ye Technology Development (Beijing) Co, Ltd. (Heng Ye) and its consolidated variable interest entity, Heng Cheng Technology Development (Beijing) Co, Ltd.

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