Alibaba Group (NYSE:BABA) Cut to Strong Sell at Zacks Research

Zacks Research cut shares of Alibaba Group (NYSE:BABA) from a hold rating to a strong sell rating in a research report report published on Tuesday,Zacks.com reports.

Other research analysts have also issued reports about the company. Bank of America increased their price objective on Alibaba Group from $168.00 to $195.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Weiss Ratings reissued a “buy (b-)” rating on shares of Alibaba Group in a report on Wednesday, October 8th. Benchmark increased their price objective on Alibaba Group from $176.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, September 2nd. Nomura increased their price objective on Alibaba Group from $170.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Finally, UBS Group reissued a “buy” rating and issued a $162.00 price objective on shares of Alibaba Group in a report on Sunday, August 31st. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $188.06.

Alibaba Group Trading Down 0.5%

Shares of NYSE:BABA opened at $165.07 on Tuesday. The business’s 50-day moving average is $150.05 and its 200 day moving average is $128.42. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.45. The firm has a market capitalization of $393.54 billion, a P/E ratio of 19.19, a P/E/G ratio of 2.22 and a beta of 0.18. Alibaba Group has a 1 year low of $80.06 and a 1 year high of $192.67.

Institutional Trading of Alibaba Group

A number of hedge funds have recently modified their holdings of the stock. 180 Wealth Advisors LLC boosted its stake in shares of Alibaba Group by 3.8% in the third quarter. 180 Wealth Advisors LLC now owns 8,303 shares of the specialty retailer’s stock worth $1,484,000 after buying an additional 303 shares during the last quarter. Griffin Asset Management Inc. purchased a new stake in shares of Alibaba Group in the third quarter worth about $232,000. Meyer Handelman Co. boosted its stake in shares of Alibaba Group by 10.0% in the third quarter. Meyer Handelman Co. now owns 2,200 shares of the specialty retailer’s stock worth $393,000 after buying an additional 200 shares during the last quarter. Highland Capital Management LLC boosted its position in Alibaba Group by 10.3% during the third quarter. Highland Capital Management LLC now owns 5,340 shares of the specialty retailer’s stock worth $954,000 after purchasing an additional 500 shares in the last quarter. Finally, HBK Sorce Advisory LLC boosted its position in Alibaba Group by 4.8% during the third quarter. HBK Sorce Advisory LLC now owns 3,892 shares of the specialty retailer’s stock worth $646,000 after purchasing an additional 177 shares in the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

About Alibaba Group

Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. The company operates through seven segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others.