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

Key Points

• Vipshop's stock has been downgraded from a "buy" rating to a "hold" rating by Wall Street Zen, following similar assessments from other analysts.
• The company's average target price is currently $18.33, with shares trading at $20.27, representing a slight decline of 0.7%.
• Institutional investors own 48.82% of Vipshop's stock, with significant increases in stakes from firms like Mirae Asset Global Investments and Principal Financial Group.

Vipshop (NYSE:VIPS - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday.

VIPS has been the topic of several other research reports. Weiss Ratings reissued a "hold (c)" rating on shares of Vipshop in a report on Saturday, September 27th. Bank of America reduced their price objective on shares of Vipshop from $17.80 to $17.30 and set a "buy" rating for the company in a research note on Friday, July 18th. Citigroup upped their price target on shares of Vipshop from $17.00 to $19.00 and gave the company a "neutral" rating in a report on Friday, August 15th. JPMorgan Chase & Co. cut their price objective on shares of Vipshop from $20.00 to $18.00 and set an "overweight" rating for the company in a research report on Monday, June 30th. Finally, Zacks Research cut shares of Vipshop from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 27th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $18.33.

Vipshop Stock Down 0.7%

Shares of VIPS stock opened at $20.27 on Friday. The business has a 50 day moving average of $17.24 and a two-hundred day moving average of $15.50. The company has a market cap of $10.39 billion, a P/E ratio of 11.02, a PEG ratio of 2.28 and a beta of 0.71. Vipshop has a 52 week low of $12.14 and a 52 week high of $21.08.

Institutional Investors Weigh In On Vipshop

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. increased its stake in Vipshop by 3,533.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,020,863 shares of the technology company's stock valued at $310,000 after buying an additional 1,965,244 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in Vipshop in the 1st quarter valued at $427,000. Bank of New York Mellon Corp increased its stake in Vipshop by 4.1% in the 1st 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 during the last quarter. Principal Financial Group Inc. acquired a new stake in Vipshop in the 1st quarter valued at $27,051,000. Finally, 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 valued at $6,994,000 after acquiring an additional 49,632 shares during the period. 48.82% of the stock is currently owned by institutional investors and hedge funds.

Vipshop Company Profile

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.

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