Ninetowns Internet Technlgy Grp Co Ltd. (NINE) Given Consensus Recommendation of “Buy” by Analysts

Shares of Ninetowns Internet Technlgy Grp Co Ltd. (NASDAQ:NINE) have been assigned a consensus rating of “Buy” from the thirteen analysts that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $37.32.

Several brokerages have recently weighed in on NINE. Zacks Investment Research cut shares of Ninetowns Internet Technlgy Grp from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 16th. Bank of America decreased their target price on shares of Ninetowns Internet Technlgy Grp from $50.00 to $47.00 and set a “buy” rating for the company in a research report on Wednesday, November 14th. Credit Suisse Group decreased their target price on shares of Ninetowns Internet Technlgy Grp from $36.00 to $34.00 and set an “outperform” rating for the company in a research report on Tuesday, August 14th. Raymond James set a $46.00 target price on shares of Ninetowns Internet Technlgy Grp and gave the company a “buy” rating in a research report on Wednesday, November 14th. Finally, Citigroup started coverage on shares of Ninetowns Internet Technlgy Grp in a research report on Monday. They set a “buy” rating and a $40.00 target price for the company.

Shares of NINE traded down $0.99 during mid-day trading on Friday, hitting $28.75. The company’s stock had a trading volume of 52,800 shares, compared to its average volume of 190,870. Ninetowns Internet Technlgy Grp has a 52-week low of $22.23 and a 52-week high of $40.39.

Ninetowns Internet Technlgy Grp (NASDAQ:NINE) last announced its quarterly earnings results on Tuesday, November 13th. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.01). The firm had revenue of $218.43 million for the quarter, compared to analysts’ expectations of $215.78 million.

A number of large investors have recently bought and sold shares of NINE. The Manufacturers Life Insurance Company purchased a new stake in Ninetowns Internet Technlgy Grp during the first quarter valued at approximately $152,000. Macquarie Group Ltd. purchased a new position in shares of Ninetowns Internet Technlgy Grp in the second quarter worth $162,000. Proxima Capital Management LLC purchased a new position in shares of Ninetowns Internet Technlgy Grp in the second quarter worth $224,000. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Ninetowns Internet Technlgy Grp in the second quarter worth $226,000. Finally, California Public Employees Retirement System purchased a new position in shares of Ninetowns Internet Technlgy Grp in the second quarter worth $228,000.

About Ninetowns Internet Technlgy Grp

Ninetowns Internet Technology Group Company Limited is a software company that enables enterprises and trade-related People’s Republic of China Government agencies to streamline the import/export process in China. It operates in four segments: enterprise software and related maintenance services , software development services segment, B2C e-commerce and, and real estate development.

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Analyst Recommendations for Ninetowns Internet Technlgy Grp (NASDAQ:NINE)

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