Vipshop (NYSE:VIPS) Upgraded at Wall Street Zen

Key Points

• Vipshop has been upgraded from a "hold" rating to a "buy" rating by analysts at Wall Street Zen.
• Various analysts have adjusted their price objectives for Vipshop, with the average target price set at $18.33.
• Institutional investors have increased their stakes significantly in Vipshop, with 48.82% of the company’s stock now owned by hedge funds and other institutions.

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

Other equities research analysts have also recently issued research reports about the company. Barclays dropped their price objective on Vipshop from $20.00 to $19.00 and set an "overweight" rating on the stock in a research note on Thursday, May 22nd. JPMorgan Chase & Co. dropped their price objective on Vipshop from $20.00 to $18.00 and set an "overweight" rating on the stock in a research note on Monday, June 30th. Citigroup upped their price objective on Vipshop from $17.00 to $19.00 and gave the stock a "neutral" rating in a research note on Friday, August 15th. Zacks Research cut Vipshop from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 27th. Finally, Bank of America dropped their price objective on Vipshop from $17.80 to $17.30 and set a "buy" rating on the stock in a research note on Friday, July 18th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $18.33.

Vipshop Stock Performance

NYSE VIPS opened at $18.17 on Friday. The stock has a market capitalization of $9.32 billion, a price-to-earnings ratio of 9.88, a PEG ratio of 2.04 and a beta of 0.70. The stock's 50 day moving average price is $16.20 and its two-hundred day moving average price is $15.25. Vipshop has a 52 week low of $12.14 and a 52 week high of $18.53.

Institutional Trading of Vipshop

Several hedge funds and other institutional investors have recently made changes to their positions in VIPS. Norges Bank purchased a new position in Vipshop in the 2nd quarter worth $50,725,000. Acadian Asset Management LLC raised its stake in Vipshop by 17.4% in the 1st quarter. Acadian Asset Management LLC now owns 16,760,405 shares of the technology company's stock worth $262,757,000 after acquiring an additional 2,483,294 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised 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 worth $310,000 after acquiring an additional 1,965,244 shares during the last quarter. SG Americas Securities LLC raised its stake in Vipshop by 6,092.5% in the 2nd quarter. SG Americas Securities LLC now owns 1,926,991 shares of the technology company's stock worth $29,001,000 after acquiring an additional 1,895,873 shares during the last quarter. Finally, Principal Financial Group Inc. purchased a new position in Vipshop in the 1st quarter worth $27,051,000. Hedge funds and other institutional investors own 48.82% of the company's stock.

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.

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