Vipshop (NYSE:VIPS) Shares Gap Down Following Analyst Downgrade

Vipshop Holdings Limited (NYSE:VIPS)’s stock price gapped down prior to trading on Thursday after StockNews.com downgraded the stock from a buy rating to a hold rating. The stock had previously closed at $13.54, but opened at $13.20. Vipshop shares last traded at $13.26, with a volume of 442,283 shares traded.

A number of other equities analysts also recently issued reports on the stock. Morgan Stanley dropped their price objective on shares of Vipshop from $16.00 to $14.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 20th. UBS Group downgraded shares of Vipshop from a “buy” rating to a “neutral” rating and cut their price objective for the company from $20.00 to $12.50 in a research report on Wednesday, August 21st. Citigroup decreased their target price on Vipshop from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday. Benchmark reissued a “hold” rating on shares of Vipshop in a report on Wednesday. Finally, Barclays started coverage on Vipshop in a research note on Wednesday, November 6th. They issued an “overweight” rating and a $19.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Vipshop presently has a consensus rating of “Hold” and an average target price of $17.50.

Hedge Funds Weigh In On Vipshop

Several hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC increased its holdings in Vipshop by 5.7% in the 3rd quarter. Geode Capital Management LLC now owns 3,256,744 shares of the technology company’s stock valued at $50,937,000 after acquiring an additional 176,037 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Vipshop during the third quarter valued at about $14,938,000. National Bank of Canada FI increased its holdings in shares of Vipshop by 3,647.0% in the third quarter. National Bank of Canada FI now owns 389,799 shares of the technology company’s stock worth $6,132,000 after purchasing an additional 379,396 shares during the last quarter. Quantinno Capital Management LP lifted its position in shares of Vipshop by 16.9% in the third quarter. Quantinno Capital Management LP now owns 15,811 shares of the technology company’s stock worth $249,000 after buying an additional 2,284 shares in the last quarter. Finally, Polymer Capital Management HK LTD bought a new position in Vipshop during the third quarter valued at approximately $175,000. Hedge funds and other institutional investors own 48.82% of the company’s stock.

Vipshop Stock Performance

The firm has a fifty day simple moving average of $14.65 and a two-hundred day simple moving average of $14.42. The firm has a market cap of $7.31 billion, a PE ratio of 6.45, a PEG ratio of 1.49 and a beta of 0.34.

Vipshop (NYSE:VIPS) last announced its quarterly earnings results on Tuesday, August 20th. The technology company reported $3.91 earnings per share for the quarter, topping the consensus estimate of $0.48 by $3.43. Vipshop had a net margin of 7.50% and a return on equity of 21.04%. The company had revenue of $25.08 billion for the quarter, compared to analysts’ expectations of $26.61 billion. During the same quarter in the previous year, the business posted $0.51 earnings per share. Vipshop’s quarterly revenue was down 4.1% on a year-over-year basis. Equities analysts forecast that Vipshop Holdings Limited will post 1.97 EPS for the current fiscal year.

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.