Vipshop (NYSE:VIPS) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Vipshop (NYSE:VIPS) from a buy rating to a hold rating in a report published on Wednesday.

A number of other brokerages have also issued reports on VIPS. Barclays began coverage on shares of Vipshop in a research report on Wednesday, November 6th. They issued an “overweight” rating and a $19.00 target price for the company. CLSA cut shares of Vipshop from an “outperform” rating to a “hold” rating and decreased their price objective for the company from $15.80 to $12.00 in a report on Wednesday, August 21st. Morgan Stanley dropped their target price on Vipshop from $16.00 to $14.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 20th. Benchmark restated a “hold” rating on shares of Vipshop in a research report on Wednesday. Finally, Citigroup lowered their price target on Vipshop from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $17.50.

Vipshop Price Performance

Shares of VIPS stock opened at $13.24 on Wednesday. Vipshop has a 12-month low of $11.50 and a 12-month high of $20.19. The firm has a market capitalization of $7.18 billion, a price-to-earnings ratio of 6.33, a price-to-earnings-growth ratio of 1.49 and a beta of 0.34. The business has a 50 day simple moving average of $14.65 and a 200 day simple moving average of $14.42.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in VIPS. Zurich Insurance Group Ltd FI purchased a new stake in Vipshop during the first quarter valued at about $1,211,000. Swedbank AB purchased a new stake in shares of Vipshop in the 1st quarter valued at approximately $19,185,000. Canada Pension Plan Investment Board boosted its stake in Vipshop by 6.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 2,598,671 shares of the technology company’s stock worth $43,008,000 after purchasing an additional 167,565 shares during the period. Lingohr Asset Management GmbH purchased a new position in Vipshop during the 3rd quarter worth approximately $921,000. Finally, The Manufacturers Life Insurance Company grew its position in Vipshop by 76.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 73,369 shares of the technology company’s stock worth $955,000 after purchasing an additional 31,816 shares in the last quarter. Institutional investors and hedge funds 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.