Li Ning Co. (LNNGY) Cut to Hold at Zacks Investment Research
Li Ning Co. (OTCMKTS:LNNGY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday.
According to Zacks, “Li Ning Company Limited operates as a designer, developer, manufacturer and distributor of sports footwear, apparel, accessories and equipment for sport and leisure uses under its own LI-NING brand in the Peoples’ Republic of China. Additionally, the Group distributes sports products under its Z-DO brand via hypermarket channel; manufactures, markets, distributes and sells outdoor sports products under the French brand AIGLE and engages in manufacture, research and development, marketing and sale of table tennis and other sports equipment under the Double Happiness brand. The Company also develops, manufactures, markets, distributes and sells the licensed products under the Italian sports fashion brand Lotto; and engages in the research and development, manufacture and sale of professional badminton equipment under the Kason brand. Li Ning Company Limited is headquartered in Causeway Bay, Hong Kong. “
Li Ning (LNNGY) remained flat at $18.59 during midday trading on Thursday. The company’s 50-day moving average price is $18.07 and its 200-day moving average price is $17.84. Li Ning has a 52 week low of $17.76 and a 52 week high of $18.59. The stock has a market capitalization of $1.77 billion, a P/E ratio of 16.17 and a beta of -0.82.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Li Ning Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Li Ning Co. and related companies with MarketBeat.com's FREE daily email newsletter.