KE (NYSE:BEKE) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded KE Holdings from “hold” to “strong buy,” while the broader analyst consensus remains “buy” with an average price target of $23.64.
• KE reported quarterly EPS of $0.42, beating the $0.31 consensus estimate, and revenue of $3.61 billion, slightly exceeding expectations.
• The stock opened at $17.73 and was down 0.8%; institutional investors own approximately 39.34% of KE’s shares.

KE (NYSE:BEKE - Get Free Report) was upgraded by research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued on Wednesday,Zacks.com reports.

Several other research firms have also recently weighed in on BEKE. UBS Group upgraded KE from a "neutral" rating to a "buy" rating and set a $23.00 price target for the company in a research note on Tuesday, May 12th. Wall Street Zen cut KE from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. The Goldman Sachs Group upgraded KE from a "neutral" rating to a "buy" rating and set a $21.00 price objective for the company in a report on Monday, May 4th. Barclays boosted their target price on KE from $23.00 to $26.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 20th. Finally, Morgan Stanley restated an "overweight" rating on shares of KE in a research note on Friday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $23.64.

KE Trading Down 0.8%

NYSE BEKE opened at $17.73 on Wednesday. The stock's fifty day moving average price is $16.32 and its 200-day moving average price is $16.56. The company has a current ratio of 3.30, a quick ratio of 3.12 and a debt-to-equity ratio of 0.01. The stock has a market cap of $19.84 billion, a P/E ratio of 29.07, a P/E/G ratio of 0.68 and a beta of -0.29. KE has a 12 month low of $13.81 and a 12 month high of $20.98.

KE (NYSE:BEKE - Get Free Report) last announced its quarterly earnings results on Friday, August 21st. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.31 by $0.11. The company had revenue of $3.61 billion for the quarter, compared to analysts' expectations of $3.59 billion. KE had a net margin of 5.38% and a return on equity of 7.62%. As a group, equities analysts forecast that KE will post 0.88 EPS for the current fiscal year.

Hedge Funds Weigh In On KE

Hedge funds and other institutional investors have recently modified their holdings of the company. Basecamp Wealth Advisors LLC boosted its stake in shares of KE by 9.1% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 8,399 shares of the company's stock worth $126,000 after buying an additional 704 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in KE by 8.1% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,820 shares of the company's stock valued at $192,000 after acquiring an additional 809 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in KE by 2.6% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 37,829 shares of the company's stock valued at $596,000 after acquiring an additional 970 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in KE by 37.6% in the first quarter. EverSource Wealth Advisors LLC now owns 5,647 shares of the company's stock valued at $85,000 after acquiring an additional 1,543 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in KE by 10.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 18,011 shares of the company's stock valued at $284,000 after acquiring an additional 1,671 shares during the period. 39.34% of the stock is owned by institutional investors.

KE Company Profile

KE Holdings Inc NYSE: BEKE is a technology-driven real estate services company that operates an integrated online and offline platform for housing transactions and related services in mainland China. The company provides consumer-facing property listing marketplaces alongside a broad network of offline brokerage offices and agents, aiming to facilitate sales, rentals and new-home transactions for individual and institutional clients.

The company’s offerings span property listings for new and resale homes, rental listings, brokerage representation and transaction facilitation.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source