BEST (NYSE:BSTI) had its price objective cut by stock analysts at JPMorgan Chase & Co. from $14.80 to $12.00 in a report released on Friday. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s target price would suggest a potential upside of 38.41% from the company’s current price.
Several other analysts have also commented on the company. Zacks Investment Research lowered BEST from a “hold” rating to a “sell” rating in a report on Monday, May 7th. Citigroup raised BEST from a “neutral” rating to a “buy” rating in a report on Saturday, June 2nd. KeyCorp dropped their price objective on BEST from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Thursday, July 19th. Finally, Macquarie lowered BEST from an “outperform” rating to a “neutral” rating in a report on Wednesday, June 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $13.60.
BEST opened at $8.67 on Friday, Marketbeat.com reports. The stock has a market cap of $3.32 billion and a P/E ratio of -6.83. BEST has a 52 week low of $8.08 and a 52 week high of $13.54.
A number of institutional investors and hedge funds have recently modified their holdings of BSTI. Tiger Pacific Capital LP grew its holdings in BEST by 1,686.1% in the first quarter. Tiger Pacific Capital LP now owns 2,614,854 shares of the company’s stock valued at $26,933,000 after purchasing an additional 2,468,454 shares during the period. WIM Asset Management HK Ltd acquired a new stake in BEST in the second quarter valued at approximately $23,193,000. FIL Ltd grew its holdings in BEST by 97.1% in the first quarter. FIL Ltd now owns 2,451,700 shares of the company’s stock valued at $25,253,000 after purchasing an additional 1,207,565 shares during the period. Wells Fargo & Company MN grew its holdings in BEST by 11.1% in the first quarter. Wells Fargo & Company MN now owns 7,698,495 shares of the company’s stock valued at $79,294,000 after purchasing an additional 768,989 shares during the period. Finally, Pendal Group Ltd grew its holdings in BEST by 108.5% in the second quarter. Pendal Group Ltd now owns 985,361 shares of the company’s stock valued at $12,041,000 after purchasing an additional 512,789 shares during the period. 13.26% of the stock is currently 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.
Featured Story: How Short Selling Works
Receive News & Ratings for BEST Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BEST and related companies with MarketBeat.com's FREE daily email newsletter.