CLSA Upgrades KE (NYSE:BEKE) to “Moderate Buy”

KE (NYSE:BEKE) was upgraded by CLSA to a “moderate buy” rating in a research note issued on Wednesday,Zacks.com reports.

Several other research analysts have also recently commented on BEKE. Citigroup reaffirmed a “buy” rating on shares of KE in a research report on Tuesday, May 19th. UBS Group raised shares of KE from a “neutral” rating to a “buy” rating and set a $23.00 price target on the stock in a report on Tuesday, May 12th. Barclays increased their price objective on shares of KE from $23.00 to $26.00 and gave the company an “overweight” rating in a research note on Wednesday, May 20th. Wall Street Zen downgraded shares of KE from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, The Goldman Sachs Group upgraded shares of KE from a “neutral” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Monday, May 4th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.37.

KE Stock Performance

NYSE:BEKE opened at $17.36 on Wednesday. The firm’s 50-day moving average is $16.13 and its 200-day moving average is $16.59. KE has a 52-week low of $13.81 and a 52-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 3.12. The company has a market cap of $19.42 billion, a price-to-earnings ratio of 41.33 and a beta of -0.29.

Hedge Funds Weigh In On KE

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quantinno Capital Management LP grew its stake in KE by 86.7% in the first quarter. Quantinno Capital Management LP now owns 127,216 shares of the company’s stock valued at $1,904,000 after acquiring an additional 59,079 shares during the period. Mirabaud Asset Management Ltd bought a new position in shares of KE during the 4th quarter worth approximately $2,266,000. M&T Bank Corp bought a new position in KE in the fourth quarter valued at $998,000. Oppenheimer Asset Management Inc. increased its position in shares of KE by 34.1% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 433,785 shares of the company’s stock valued at $6,836,000 after acquiring an additional 110,293 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in shares of KE by 53.7% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,675,518 shares of the company’s stock worth $42,166,000 after purchasing an additional 934,835 shares during the last quarter. Institutional investors own 39.34% of the company’s stock.

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.