Country Garden (OTCMKTS:CTRYY) Lifted to Hold at Zacks Investment Research

Country Garden (OTCMKTS:CTRYYGet Rating) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday, reports.

According to Zacks, “Country Garden Holdings Company Limited is a property developer in the PRC, with substantially all of its assets and operations based in the PRC. Its primary business is development of large-scale residential community projects and the sale of various types of products, including villas, townhouses, apartment buildings, parking spaces and retail shops. As an integrated property developer, its lines of business also include construction, installation, fitting and decoration as well as property management. Ancillary to its property projects, it also develops and manages hotels within some of its projects. Its residential home projects are located in newly urbanized areas and suburban areas of large cities, and the center of medium-sized cities. While the local residents in Guangdong Province constitute its core customer base, it has also generated demand from residents in Hong Kong, Macau and neighboring provinces. Country Garden Holdings Company Limited is headquartered in Kowloon, Hong Kong. “

Several other equities research analysts have also recently issued reports on CTRYY. Jefferies Financial Group raised Country Garden from a “hold” rating to a “buy” rating in a report on Thursday, March 31st. JPMorgan Chase & Co. raised Country Garden from a “neutral” rating to an “overweight” rating in a research note on Friday, April 8th.

Shares of CTRYY stock remained flat at $$19.74 during trading hours on Tuesday. Country Garden has a 12-month low of $12.10 and a 12-month high of $32.84. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.24 and a quick ratio of 1.24. The business has a 50-day moving average of $18.12 and a 200-day moving average of $21.40.

About Country Garden (Get Rating)

Country Garden Holdings Company Limited, an investment holding company, invests, develops, and constructs real estate properties primarily in Mainland China. The company operates through two segments, Property Development and Construction. It develops residential projects, such as townhouses and condos; and car-parks and retail shops.

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