Chagee (NASDAQ:CHA) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Chagee (NASDAQ:CHA) from a sell rating to a hold rating in a research note released on Sunday.

A number of other research firms also recently commented on CHA. JPMorgan Chase & Co. assumed coverage on Chagee in a report on Friday, November 14th. They issued an “underweight” rating and a $14.20 target price for the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Chagee in a report on Monday, December 8th. Finally, Macquarie assumed coverage on shares of Chagee in a report on Friday, September 5th. They set a “neutral” rating and a $19.00 price objective on the stock. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Chagee presently has a consensus rating of “Hold” and a consensus target price of $32.73.

Chagee Trading Down 0.4%

Shares of CHA opened at $13.65 on Friday. The stock’s 50 day moving average is $15.28 and its two-hundred day moving average is $20.62. Chagee has a twelve month low of $12.99 and a twelve month high of $41.80. The firm has a market capitalization of $2.51 billion and a PE ratio of 15.51.

Chagee (NASDAQ:CHA) last posted its quarterly earnings results on Friday, November 28th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.07). The firm had revenue of $450.67 million during the quarter, compared to analyst estimates of $458.31 million.

Chagee Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given a $0.92 dividend. The ex-dividend date is Monday, December 8th. Chagee’s payout ratio is currently 98.86%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CHA. JPMorgan Chase & Co. purchased a new position in Chagee during the second quarter worth about $26,000. Quantbot Technologies LP acquired a new position in shares of Chagee during the 3rd quarter valued at about $34,000. Federated Hermes Inc. purchased a new position in shares of Chagee during the 2nd quarter worth about $172,000. FACTORIAL MANAGEMENT Ltd acquired a new stake in shares of Chagee in the second quarter worth approximately $178,000. Finally, Polymer Capital Management HK LTD acquired a new stake in shares of Chagee in the third quarter worth approximately $182,000.

About Chagee

Our Mission With every cup of our tea, we aspire to foster a global connection of people and cultures. Our Vision To modernize the tea-drinking experience through technology and innovation. Our Core Values “Customer First” is the foundational philosophy of how we make decisions and run our business. “Caring for Partners” is the core value that defines how we interact with consumers, franchise partners, suppliers, and employees.