Wall Street Zen Upgrades Chagee (NASDAQ:CHA) to Strong-Buy

Chagee (NASDAQ:CHA) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday, Wall Street Zen reports.

Several other equities research analysts have also recently weighed in on CHA. The Goldman Sachs Group initiated coverage on Chagee in a report on Sunday, June 21st. They issued a “neutral” rating and a $13.60 price objective for the company. CLSA initiated coverage on Chagee in a report on Sunday, May 31st. They set a “hold” rating and a $10.00 target price for the company. Weiss Ratings lowered Chagee from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, July 30th. Morgan Stanley reiterated an “overweight” rating and issued a $15.50 price target on shares of Chagee in a report on Friday, May 29th. Finally, Zacks Research raised shares of Chagee from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $13.82.

Chagee Stock Performance

CHA stock opened at $11.66 on Friday. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of 11.54 and a beta of 1.60. The firm’s 50-day moving average price is $11.05 and its two-hundred day moving average price is $10.85. Chagee has a 12-month low of $8.98 and a 12-month high of $18.46.

Chagee (NASDAQ:CHA) last posted its earnings results on Friday, August 28th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.04. Chagee had a net margin of 10.23% and a return on equity of 16.43%. The company had revenue of $502.59 million during the quarter. Equities analysts predict that Chagee will post 1.29 EPS for the current year.

Hedge Funds Weigh In On Chagee

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. purchased a new stake in shares of Chagee in the 2nd quarter worth about $26,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Chagee by 3,141.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,885 shares of the company’s stock worth $34,000 after acquiring an additional 2,796 shares in the last quarter. Quantbot Technologies LP purchased a new position in Chagee during the 3rd quarter valued at about $34,000. Geode Capital Management LLC purchased a new position in Chagee during the 4th quarter valued at about $147,000. Finally, Federated Hermes Inc. bought a new stake in Chagee during the second quarter worth about $172,000.

Chagee Company Profile

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. “Quality, Health, and Convenience” is the guiding principle of how we make our products.