KE (NYSE:BEKE) Upgraded to Buy by Bank of America

KE (NYSE:BEKE) was upgraded by investment analysts at Bank of America from a “neutral” rating to a “buy” rating in a report released on Wednesday, Briefing.com reports. The firm currently has a $28.00 target price on the stock, up from their prior target price of $24.00. Bank of America‘s price objective would indicate a potential upside of 26.35% from the company’s current price.

Separately, Citigroup began coverage on shares of KE in a report on Tuesday, September 10th. They set a “buy” rating and a $23.80 target price on the stock. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat, KE currently has a consensus rating of “Buy” and an average target price of $25.90.

KE Stock Performance

NYSE:BEKE opened at $22.16 on Wednesday. The company has a market cap of $27.09 billion, a PE ratio of 54.05, a PEG ratio of 4.76 and a beta of -0.71. The stock has a 50-day simple moving average of $18.09 and a 200 day simple moving average of $16.32. KE has a 52-week low of $12.44 and a 52-week high of $26.05.

KE (NYSE:BEKE) last issued its quarterly earnings results on Monday, August 12th. The company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $0.22 by $2.06. KE had a net margin of 5.32% and a return on equity of 6.74%. The company had revenue of $23.37 billion during the quarter, compared to analysts’ expectations of $21.51 billion. During the same period last year, the business earned $0.17 EPS. The business’s quarterly revenue was up 19.9% on a year-over-year basis. On average, research analysts predict that KE will post 0.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On KE

Several large investors have recently modified their holdings of the stock. QRG Capital Management Inc. raised its holdings in KE by 5.1% in the 2nd quarter. QRG Capital Management Inc. now owns 14,040 shares of the company’s stock valued at $199,000 after acquiring an additional 683 shares during the period. Signaturefd LLC grew its position in shares of KE by 12.5% in the second quarter. Signaturefd LLC now owns 7,781 shares of the company’s stock valued at $110,000 after purchasing an additional 866 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of KE by 2.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 58,758 shares of the company’s stock worth $1,170,000 after purchasing an additional 1,271 shares during the period. US Bancorp DE lifted its holdings in KE by 41.6% during the 3rd quarter. US Bancorp DE now owns 6,203 shares of the company’s stock worth $124,000 after purchasing an additional 1,823 shares during the last quarter. Finally, Creative Planning boosted its stake in KE by 7.1% in the 3rd quarter. Creative Planning now owns 30,002 shares of the company’s stock valued at $597,000 after purchasing an additional 1,988 shares during the period. 39.34% of the stock is owned by institutional investors.

About KE

KE Holdings Inc, through its subsidiaries, engages in operating an integrated online and offline platform for housing transactions and services in the People's Republic of China. It operates through four segments: Existing Home Transaction Services, New Home Transaction Services, Home Renovation and Furnishing, and Emerging and Other Services.