Vipshop’s (VIPS) Hold Rating Reiterated at Bank of America

Bank of America reissued their hold rating on shares of Vipshop (NYSE:VIPS) in a research note released on Monday morning, AnalystRatings.com reports. The brokerage currently has a $9.72 price objective on the technology company’s stock.

Several other research firms have also issued reports on VIPS. Daiwa Capital Markets raised Vipshop from a neutral rating to a buy rating in a research report on Friday, August 16th. UBS Group downgraded Vipshop from a neutral rating to a sell rating in a research note on Monday, April 22nd. Jefferies Financial Group upgraded Vipshop from a hold rating to a buy rating in a research note on Thursday, August 15th. New Street Research upgraded Vipshop from a neutral rating to a buy rating and upped their price objective for the stock from $6.00 to $9.50 in a research note on Friday, August 16th. Finally, Citigroup upgraded Vipshop from a sell rating to a neutral rating in a research note on Tuesday, May 28th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Vipshop has an average rating of Buy and a consensus price target of $8.60.

VIPS stock opened at $8.02 on Monday. The firm has a market cap of $5.49 billion, a P/E ratio of 18.65 and a beta of 1.93. Vipshop has a 12-month low of $4.30 and a 12-month high of $9.26. The stock’s 50 day simple moving average is $7.60 and its 200 day simple moving average is $7.76.

Vipshop (NYSE:VIPS) last posted its quarterly earnings results on Wednesday, August 14th. The technology company reported $1.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $1.46. The business had revenue of $21.72 billion for the quarter, compared to analyst estimates of $21.60 billion. Vipshop had a return on equity of 14.63% and a net margin of 2.97%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.84 EPS. On average, equities research analysts forecast that Vipshop will post 0.66 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Ladenburg Thalmann Financial Services Inc. bought a new position in shares of Vipshop in the second quarter worth $34,000. Advisor Group Inc. grew its stake in shares of Vipshop by 390.3% in the second quarter. Advisor Group Inc. now owns 7,208 shares of the technology company’s stock worth $63,000 after purchasing an additional 5,738 shares in the last quarter. Daiwa Securities Group Inc. bought a new position in shares of Vipshop in the first quarter worth $71,000. Campbell & CO Investment Adviser LLC bought a new position in shares of Vipshop in the second quarter worth $88,000. Finally, Ellington Management Group LLC bought a new position in shares of Vipshop in the second quarter worth $88,000. Hedge funds and other institutional investors own 44.60% of the company’s stock.

About Vipshop

Vipshop Holdings Limited operates as an online discount retailer for various brands in the People's Republic of China. It operates in two segments, Vip.com and Internet Finance Business. The company offers women's apparel, such as casual wear, jeans, dresses, outerwear, swimsuits, lingerie, pajamas, and maternity clothes; men's apparel comprising casual and smart-casual T-shirts, polo shirts, jackets, pants, and underwear; women and men casual and formal shoes; and accessories that include belts, jewelry, watches, and glasses for women and men.

Further Reading: Are Wall Street analysts’ stock ratings worth following?

Analyst Recommendations for Vipshop (NYSE:VIPS)

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