Zacks Investment Research cut shares of BEST (NYSE:BSTI) from a hold rating to a sell rating in a research report sent to investors on Friday morning.
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. “
Other research analysts also recently issued research reports about the stock. Goldman Sachs Group started coverage on shares of BEST in a report on Sunday, October 15th. They issued a buy rating and a $16.60 target price on the stock. Deutsche Bank started coverage on shares of BEST in a report on Monday, October 16th. They issued a buy rating on the stock. Stifel Nicolaus initiated coverage on shares of BEST in a report on Monday, October 16th. They issued a buy rating and a $16.00 target price on the stock. Credit Suisse Group initiated coverage on shares of BEST in a report on Monday, October 16th. They set an outperform rating on the stock. Finally, Oppenheimer initiated coverage on shares of BEST in a report on Tuesday, December 5th. They set an outperform rating and a $13.00 price objective on the stock. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $14.92.
Shares of BEST (NYSE:BSTI) traded up $0.01 on Friday, reaching $9.25. 939,284 shares of the company traded hands, compared to its average volume of 1,017,761. BEST has a 12-month low of $8.80 and a 12-month high of $13.25.
A hedge fund recently bought a new stake in BEST stock. Janney Montgomery Scott LLC acquired a new position in shares of BEST Inc (NYSE:BSTI) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 10,600 shares of the company’s stock, valued at approximately $127,000. Institutional investors and hedge funds own 13.31% of the company’s stock.
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BEST Inc is engaged in providing supply chain solutions. The Company offers a cloud based platform, BEST Cloud which is integration of online and offline retail to offer delivery. It provides technology-enabled solutions to its users. The Company’s service offerings include BEST supply chain management, BEST express, BEST freight, BEST store+, BEST global, BEST cargo and BEST Ucargo.
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