Zacks Investment Research upgraded shares of BEST (NYSE:BSTI) from a sell rating to a hold rating in a research report released on Tuesday 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. “
A number of other analysts have also recently weighed in 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 raised 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 analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $11.40.
BEST stock opened at $5.02 on Tuesday. BEST has a 1-year low of $4.67 and a 1-year high of $13.54.
BEST (NYSE:BSTI) last posted its quarterly earnings data on Wednesday, August 8th. The company reported ($0.04) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.01. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.12 billion. Sell-side analysts anticipate that BEST will post -0.13 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of the business. WIM Asset Management HK Ltd lifted its position in BEST by 10.2% during the 3rd quarter. WIM Asset Management HK Ltd now owns 2,092,285 shares of the company’s stock worth $12,386,000 after acquiring an additional 194,314 shares during the period. Northern Trust Corp lifted its position in BEST by 284.8% during the 2nd quarter. Northern Trust Corp now owns 63,209 shares of the company’s stock worth $773,000 after acquiring an additional 46,783 shares during the period. California Public Employees Retirement System lifted its position in BEST by 243.5% during the 2nd quarter. California Public Employees Retirement System now owns 217,235 shares of the company’s stock worth $2,655,000 after acquiring an additional 153,991 shares during the period. Zurich Insurance Group Ltd FI lifted its position in BEST by 21.6% during the 2nd quarter. Zurich Insurance Group Ltd FI now owns 278,618 shares of the company’s stock worth $3,405,000 after acquiring an additional 49,553 shares during the period. Finally, Bank of America Corp DE lifted its position in BEST by 28.9% during the 2nd quarter. Bank of America Corp DE now owns 803,036 shares of the company’s stock worth $9,813,000 after acquiring an additional 179,961 shares during the period. 18.55% of the stock is owned by institutional investors.
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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