BEST (BSTI) Downgraded by Macquarie to Neutral

BEST (NYSE:BSTI) was downgraded by stock analysts at Macquarie from an “outperform” rating to a “neutral” rating in a note issued to investors on Wednesday, The Fly reports.

A number of other equities research analysts have also weighed in on BSTI. Citigroup raised shares of BEST from a “neutral” rating to a “buy” rating in a report on Saturday, June 2nd. Zacks Investment Research raised shares of BEST from a “sell” rating to a “hold” rating in a report on Tuesday, May 15th. KeyCorp set a $14.00 target price on shares of BEST and gave the stock a “buy” rating in a report on Wednesday, February 21st. Finally, ValuEngine raised shares of BEST from a “sell” rating to a “hold” rating in a report on Monday, April 2nd. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $14.52.

BSTI opened at $12.53 on Wednesday. BEST has a fifty-two week low of $8.08 and a fifty-two week high of $13.54. The company has a market cap of $4.74 billion and a price-to-earnings ratio of -9.87.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Cubist Systematic Strategies LLC acquired a new position in shares of BEST in the 1st quarter worth approximately $110,000. Guggenheim Capital LLC acquired a new position in shares of BEST in the 1st quarter worth approximately $207,000. Jane Street Group LLC acquired a new position in shares of BEST in the 1st quarter worth approximately $409,000. UBS Group AG lifted its position in shares of BEST by 61.7% in the 1st quarter. UBS Group AG now owns 82,878 shares of the company’s stock worth $854,000 after purchasing an additional 31,625 shares during the period. Finally, FIL Ltd lifted its position in shares of BEST by 97.1% in the 1st quarter. FIL Ltd now owns 2,451,700 shares of the company’s stock worth $25,253,000 after purchasing an additional 1,207,565 shares during the period. Hedge funds and other institutional investors own 12.47% of the company’s stock.

About BEST

BEST Inc operates as a smart supply chain service provider in the People's Republic of China. Its proprietary technology platform enables its ecosystem participants to operate their businesses through various SaaS-based applications. The company applies its technologies to a range of applications, such as network and route optimization, swap bodies, sorting line automation, smart warehouses, and store management.

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