KE (NYSE:BEKE) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of KE (NYSE:BEKE) from a hold rating to a strong-buy rating in a research report sent to investors on Wednesday morning,Zacks.com reports.

Several other research firms also recently commented on BEKE. Barclays raised their price target on shares of KE from $23.00 to $26.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 20th. Morgan Stanley restated an “overweight” rating on shares of KE in a research note on Friday, August 21st. Citigroup reaffirmed a “buy” rating on shares of KE in a research report on Tuesday, May 19th. CLSA initiated coverage on shares of KE in a research note on Wednesday, August 19th. They set an “outperform” rating and a $23.80 price target for the company. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of KE in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $23.64.

KE Trading Down 0.8%

Shares of NYSE BEKE opened at $17.73 on Wednesday. KE has a fifty-two week low of $13.81 and a fifty-two week high of $20.98. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.12 and a current ratio of 3.30. The company has a market cap of $19.84 billion, a price-to-earnings ratio of 29.07, a PEG ratio of 0.68 and a beta of -0.29. The business’s 50 day moving average price is $16.32 and its 200-day moving average price is $16.56.

KE (NYSE:BEKE) last posted its quarterly earnings data on Friday, August 21st. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.11. KE had a return on equity of 7.62% and a net margin of 5.38%.The company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.59 billion. On average, sell-side analysts expect that KE will post 0.88 earnings per share for the current year.

Institutional Trading of KE

Several hedge funds have recently modified their holdings of the company. Strs Ohio purchased a new position in shares of KE in the 1st quarter worth approximately $44,000. Caitong International Asset Management Co. Ltd grew its holdings in KE by 330.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,280 shares of the company’s stock worth $36,000 after purchasing an additional 1,750 shares during the last quarter. Allworth Financial LP increased its position in shares of KE by 254.4% during the fourth quarter. Allworth Financial LP now owns 2,910 shares of the company’s stock worth $46,000 after purchasing an additional 2,089 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of KE by 145.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,812 shares of the company’s stock worth $68,000 after purchasing an additional 2,257 shares in the last quarter. Finally, Parallel Advisors LLC grew its stake in KE by 79.7% during the 3rd quarter. Parallel Advisors LLC now owns 5,180 shares of the company’s stock worth $98,000 after buying an additional 2,298 shares during the last quarter. 39.34% of the stock is owned by hedge funds and other institutional investors.

KE Company Profile

KE Holdings Inc (NYSE: BEKE) is a technology-driven real estate services company that operates an integrated online and offline platform for housing transactions and related services in mainland China. The company provides consumer-facing property listing marketplaces alongside a broad network of offline brokerage offices and agents, aiming to facilitate sales, rentals and new-home transactions for individual and institutional clients.

The company’s offerings span property listings for new and resale homes, rental listings, brokerage representation and transaction facilitation.