Equities research analysts forecast that BEST Inc (NYSE:BSTI) will post sales of $974.75 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for BEST’s earnings. The highest sales estimate is $976.00 million and the lowest is $973.86 million. The business is expected to announce its next quarterly earnings report before the market opens on Thursday, March 1st.
According to Zacks, analysts expect that BEST will report full-year sales of $974.75 million for the current financial year, with estimates ranging from $2.96 billion to $3.03 billion. For the next year, analysts forecast that the company will post sales of $4.81 billion per share, with estimates ranging from $4.71 billion to $4.92 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover BEST.
BSTI has been the subject of several research analyst reports. Oppenheimer initiated coverage on BEST in a research note on Tuesday, December 5th. They set an “outperform” rating and a $13.00 price objective for the company. Zacks Investment Research lowered BEST from a “hold” rating to a “sell” rating in a research note on Tuesday, January 16th. Citigroup initiated coverage on BEST in a research note on Tuesday, December 5th. They set an “outperform” rating and a $13.00 price objective for the company. Finally, KeyCorp set a $14.00 price objective on BEST and gave the company a “buy” rating in a research note on Wednesday, February 21st. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $14.52.
A number of large investors have recently bought and sold shares of BSTI. Wells Fargo & Company MN boosted its stake in BEST by 25.5% during the fourth quarter. Wells Fargo & Company MN now owns 6,929,506 shares of the company’s stock valued at $62,227,000 after buying an additional 1,409,506 shares during the period. Goldman Sachs Group Inc. bought a new stake in BEST during the fourth quarter valued at $2,047,000. Stansberry Asset Management LLC bought a new stake in BEST during the fourth quarter worth about $1,940,000. Tiger Pacific Capital LP bought a new stake in BEST during the fourth quarter worth about $1,315,000. Finally, NWI Management LP lifted its stake in BEST by 13.7% during the fourth quarter. NWI Management LP now owns 1,136,602 shares of the company’s stock worth $10,207,000 after purchasing an additional 136,602 shares during the last quarter. 10.98% of the stock is owned by institutional investors.
Shares of BEST stock traded down $0.39 during midday trading on Friday, hitting $10.16. The stock had a trading volume of 650,971 shares, compared to its average volume of 927,178. BEST has a one year low of $8.08 and a one year high of $13.25.
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BEST Inc is engaged in providing supply chain solutions. The Company offers a cloud based platform, BEST Cloud which is integration of online and offline retail to offer delivery. It provides technology-enabled solutions to its users. The Company’s service offerings include BEST supply chain management, BEST express, BEST freight, BEST store+, BEST global, BEST cargo and BEST Ucargo.
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