Vipshop (NYSE:VIPS) Lowered to Hold Rating by Wall Street Zen

Vipshop (NYSE:VIPS) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

A number of other research firms also recently weighed in on VIPS. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Vipshop in a research note on Wednesday, October 8th. Zacks Research cut Vipshop from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 27th. Citigroup upped their price target on Vipshop from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday, August 15th. Finally, Bank of America cut their price objective on Vipshop from $17.80 to $17.30 and set a “buy” rating on the stock in a report on Friday, July 18th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $18.33.

Vipshop Price Performance

NYSE:VIPS traded up $0.38 during mid-day trading on Friday, reaching $18.66. The company’s stock had a trading volume of 2,137,136 shares, compared to its average volume of 3,296,460. The stock has a market cap of $9.57 billion, a P/E ratio of 10.14, a P/E/G ratio of 2.11 and a beta of 0.83. The company’s fifty day simple moving average is $18.54 and its two-hundred day simple moving average is $16.27. Vipshop has a twelve month low of $12.14 and a twelve month high of $21.08.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in VIPS. Bank of New York Mellon Corp raised its stake in Vipshop by 4.1% during the first quarter. Bank of New York Mellon Corp now owns 560,933 shares of the technology company’s stock valued at $8,795,000 after buying an additional 22,204 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Vipshop by 12.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 446,034 shares of the technology company’s stock worth $6,994,000 after acquiring an additional 49,632 shares in the last quarter. Harvest Fund Management Co. Ltd increased its holdings in shares of Vipshop by 66.6% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 216,491 shares of the technology company’s stock valued at $3,103,000 after acquiring an additional 86,548 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of Vipshop during the 2nd quarter valued at approximately $282,000. Finally, Acadian Asset Management LLC boosted its holdings in Vipshop by 17.4% in the first quarter. Acadian Asset Management LLC now owns 16,760,405 shares of the technology company’s stock worth $262,757,000 after purchasing an additional 2,483,294 shares during the period. 48.82% of the stock is owned by institutional investors and hedge funds.

About Vipshop

Vipshop Holdings Limited operates online platforms in the People's Republic of China. It operates in Vip.com, Shan Shan Outlets, and Others segments. The company offers womenswear, menswear, sportswear and sporting goods, shoes and bags, accessories, baby and children products, skincare and cosmetics, home goods and other lifestyle products, and supermarket products.