Qudian (NYSE:QD) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Qudian (NYSE:QD) from a hold rating to a buy rating in a research report sent to investors on Friday, Zacks.com reports. They currently have $7.25 price target on the stock.

According to Zacks, “Qudian Inc. provides online consumer finance platforms primarily in the Peoples Republic of China. The Company offers cash credit products which include funds in digital form and merchandise credit products. Qudian Inc. is headquartered in Beijing, China. “

Other equities research analysts also recently issued research reports about the company. BOCOM International assumed coverage on Qudian in a research report on Thursday. They set a neutral rating and a $6.82 target price for the company. ValuEngine downgraded Qudian from a sell rating to a strong sell rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $7.27.

Shares of QD stock traded down $0.10 on Friday, reaching $6.43. 55,041 shares of the stock were exchanged, compared to its average volume of 4,910,235. The stock has a market cap of $1.94 billion, a PE ratio of 5.69 and a beta of 1.67. Qudian has a one year low of $4.00 and a one year high of $9.20. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.03 and a quick ratio of 3.03. The stock has a 50 day moving average price of $7.32 and a 200 day moving average price of $7.34.

Qudian (NYSE:QD) last released its earnings results on Friday, August 16th. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.06. The company had revenue of $323.48 million during the quarter. Qudian had a return on equity of 31.21% and a net margin of 44.04%. On average, research analysts expect that Qudian will post 2.29 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Aperio Group LLC increased its holdings in Qudian by 8.5% in the second quarter. Aperio Group LLC now owns 29,348 shares of the company’s stock valued at $220,000 after purchasing an additional 2,297 shares during the last quarter. Financial Gravity Wealth Inc. increased its holdings in Qudian by 47.3% in the second quarter. Financial Gravity Wealth Inc. now owns 7,922 shares of the company’s stock valued at $59,000 after purchasing an additional 2,544 shares during the last quarter. Ellington Management Group LLC increased its holdings in Qudian by 16.4% in the second quarter. Ellington Management Group LLC now owns 20,600 shares of the company’s stock valued at $155,000 after purchasing an additional 2,900 shares during the last quarter. Segantii Capital Management Ltd increased its holdings in Qudian by 16.7% in the second quarter. Segantii Capital Management Ltd now owns 28,028 shares of the company’s stock valued at $210,000 after purchasing an additional 4,004 shares during the last quarter. Finally, Ayalon Holdings Ltd. increased its holdings in Qudian by 30.9% in the second quarter. Ayalon Holdings Ltd. now owns 30,643 shares of the company’s stock valued at $230,000 after purchasing an additional 7,232 shares during the last quarter. Institutional investors and hedge funds own 35.76% of the company’s stock.

About Qudian

Qudian Inc provides online small consumer credit products in the People's Republic of China. It uses big data-enabled technologies, including artificial intelligence and machine learning to transform the consumer finance experience. The company offers small credit products, such as cash credit products; merchandise credit products to finance borrowers' direct purchase of merchandise offered on its marketplace on installment basis; and budget auto financing products.

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