Morgan Stanley Forecasts Strong Price Appreciation for KE (NYSE:BEKE) Stock

KE (NYSE:BEKE) had its price objective hoisted by research analysts at Morgan Stanley from $19.00 to $27.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 25.38% from the company’s previous close.

Separately, Barclays lifted their target price on shares of KE from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Monday, November 25th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, KE currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.26.

KE Stock Down 4.1 %

Shares of NYSE:BEKE opened at $21.53 on Wednesday. The company has a market cap of $26.02 billion, a price-to-earnings ratio of 43.95, a PEG ratio of 3.45 and a beta of -0.82. The firm’s 50-day simple moving average is $19.90 and its 200-day simple moving average is $19.42. KE has a fifty-two week low of $12.49 and a fifty-two week high of $26.05.

Institutional Trading of KE

A number of institutional investors have recently added to or reduced their stakes in the stock. FIL Ltd boosted its holdings in KE by 21.1% during the fourth quarter. FIL Ltd now owns 25,847,478 shares of the company’s stock worth $476,111,000 after buying an additional 4,503,902 shares in the last quarter. Hhlr Advisors LTD. lifted its holdings in shares of KE by 3.6% in the fourth quarter. Hhlr Advisors LTD. now owns 11,261,276 shares of the company’s stock valued at $207,433,000 after purchasing an additional 392,588 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of KE by 111,822,650.0% in the fourth quarter. Canada Pension Plan Investment Board now owns 11,182,275 shares of the company’s stock valued at $205,978,000 after purchasing an additional 11,182,265 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of KE by 2.4% in the fourth quarter. Renaissance Technologies LLC now owns 8,155,694 shares of the company’s stock valued at $150,228,000 after purchasing an additional 194,800 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of KE in the fourth quarter valued at about $130,167,000. Hedge funds and other institutional investors own 39.34% of the company’s stock.

KE Company Profile

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.