China Unicom (Hong Kong) (NYSE:CHU) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of China Unicom (Hong Kong) (NYSE:CHU) from a sell rating to a hold rating in a research report report published on Tuesday, Zacks.com reports.

According to Zacks, “China Unicom Limited is engaged in the provision of cellular, paging, long distance, data and internet services in the People’s Repulic of China. “

A number of other equities analysts have also recently issued reports on the company. UBS Group raised China Unicom (Hong Kong) from a neutral rating to a buy rating in a report on Monday, June 10th. Goldman Sachs Group raised China Unicom (Hong Kong) from a neutral rating to a buy rating and increased their target price for the stock from $13.00 to $13.20 in a report on Tuesday. New Street Research cut China Unicom (Hong Kong) from a buy rating to a neutral rating in a report on Monday, August 19th. Finally, Credit Suisse Group raised China Unicom (Hong Kong) from a neutral rating to an outperform rating in a report on Wednesday, August 14th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $12.60.

Shares of CHU opened at $10.43 on Tuesday. China Unicom has a 1 year low of $9.05 and a 1 year high of $13.66. The company has a current ratio of 0.38, a quick ratio of 0.37 and a debt-to-equity ratio of 0.09. The stock has a 50 day simple moving average of $9.95 and a 200-day simple moving average of $11.11. The stock has a market cap of $31.91 billion, a PE ratio of 20.86 and a beta of 0.99.

A number of hedge funds have recently added to or reduced their stakes in CHU. Evolution Wealth Advisors LLC acquired a new stake in China Unicom (Hong Kong) during the 2nd quarter valued at $27,000. Parallel Advisors LLC increased its holdings in China Unicom (Hong Kong) by 101.7% during the 2nd quarter. Parallel Advisors LLC now owns 2,628 shares of the Wireless communications provider’s stock valued at $29,000 after purchasing an additional 1,325 shares in the last quarter. Signaturefd LLC increased its holdings in China Unicom (Hong Kong) by 68.7% during the 2nd quarter. Signaturefd LLC now owns 4,810 shares of the Wireless communications provider’s stock valued at $52,000 after purchasing an additional 1,959 shares in the last quarter. Marshall Wace LLP acquired a new stake in China Unicom (Hong Kong) during the 1st quarter valued at $156,000. Finally, LPL Financial LLC increased its holdings in China Unicom (Hong Kong) by 26.8% during the 2nd quarter. LPL Financial LLC now owns 15,921 shares of the Wireless communications provider’s stock valued at $174,000 after purchasing an additional 3,369 shares in the last quarter. 1.04% of the stock is owned by hedge funds and other institutional investors.

China Unicom (Hong Kong) Company Profile

China Unicom (Hong Kong) Limited, an investment holding company, provides cellular and fixed-line voice, and related value-added services in the People's Republic of China. It also provides broadband and other Internet-related services, information communications technology services, and business and data communications services.

Recommended Story: The limitations of an equal weight rating

Get a free copy of the Zacks research report on China Unicom (Hong Kong) (CHU)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for China Unicom (Hong Kong) (NYSE:CHU)

Receive News & Ratings for China Unicom (Hong Kong) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for China Unicom (Hong Kong) and related companies with MarketBeat.com's FREE daily email newsletter.