Vipshop (NYSE:VIPS) Downgraded to "Hold" Rating by Zacks Research

Key Points

• Vipshop was downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating, signaling a shift in analysts' confidence regarding the stock.
• Several research firms have adjusted their target prices for Vipshop, with Barclays lowering it to $19.00 and JPMorgan Chase & Co. reducing it to $18.00.
• Despite the downgrades, Vipshop holds a consensus rating of "Moderate Buy" among analysts, with three ratings at Buy and three at Hold.

Vipshop (NYSE:VIPS - Get Free Report) was downgraded by analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a note issued to investors on Wednesday,Zacks.com reports.

A number of other analysts have also issued reports on the company. Barclays lowered their price target on Vipshop from $20.00 to $19.00 and set an "overweight" rating for the company in a report on Thursday, May 22nd. Bank of America lowered their target price on Vipshop from $17.80 to $17.30 and set a "buy" rating for the company in a report on Friday, July 18th. Citigroup upped their target price on Vipshop from $17.00 to $19.00 and gave the stock a "neutral" rating in a report on Friday, August 15th. JPMorgan Chase & Co. lowered their target price on Vipshop from $20.00 to $18.00 and set an "overweight" rating for the company in a report on Monday, June 30th. Finally, Wall Street Zen lowered Vipshop from a "buy" rating to a "hold" rating in a report on Thursday, May 29th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $18.33.

Vipshop Trading Up 0.4%

Shares of NYSE VIPS traded up $0.07 during trading hours on Wednesday, reaching $16.77. The stock had a trading volume of 1,979,524 shares, compared to its average volume of 2,614,623. The firm has a market cap of $8.60 billion, a price-to-earnings ratio of 9.11, a P/E/G ratio of 1.88 and a beta of 0.70. The business's fifty day moving average price is $15.72 and its two-hundred day moving average price is $15.07. Vipshop has a 52-week low of $12.14 and a 52-week high of $17.94.

Hedge Funds Weigh In On Vipshop

Large investors have recently made changes to their positions in the business. Wayfinding Financial LLC acquired a new position in shares of Vipshop during the first quarter worth $35,000. Farther Finance Advisors LLC increased its position in shares of Vipshop by 209.2% during the second quarter. Farther Finance Advisors LLC now owns 2,551 shares of the technology company's stock worth $38,000 after purchasing an additional 1,726 shares in the last quarter. Brooklyn Investment Group increased its position in shares of Vipshop by 1,695.2% during the first quarter. Brooklyn Investment Group now owns 2,621 shares of the technology company's stock worth $41,000 after purchasing an additional 2,475 shares in the last quarter. Hantz Financial Services Inc. increased its position in shares of Vipshop by 1,187.1% during the second quarter. Hantz Financial Services Inc. now owns 3,282 shares of the technology company's stock worth $49,000 after purchasing an additional 3,027 shares in the last quarter. Finally, Huntington National Bank increased its position in shares of Vipshop by 53.8% during the second quarter. Huntington National Bank now owns 3,323 shares of the technology company's stock worth $50,000 after purchasing an additional 1,163 shares in the last quarter. 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.