Yirendai Ltd. (YRD) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Yirendai Ltd. (NYSE:YRD) from a hold rating to a buy rating in a research note published on Friday morning. They currently have $46.00 price objective on the technology company’s stock.

According to Zacks, “Yirendai Ltd. is involved in the online consumer finance business. Yirendai Ltd. is based in Beijing, China. “

A number of other research analysts also recently issued reports on the stock. Needham & Company LLC restated a buy rating and set a $42.00 target price on shares of Yirendai in a research report on Friday, November 3rd. ValuEngine upgraded shares of Yirendai from a buy rating to a strong-buy rating in a research report on Thursday, August 24th. Citigroup Inc. initiated coverage on shares of Yirendai in a research report on Tuesday, November 14th. They set a buy rating for the company. Finally, Macquarie started coverage on shares of Yirendai in a research report on Tuesday, November 14th. They set an outperform rating and a $60.00 target price for the company. Five analysts have rated the stock with a buy rating, The stock currently has a consensus rating of Buy and an average price target of $52.00.

Shares of Yirendai (YRD) opened at $41.55 on Friday. The company has a market cap of $2,482.86, a price-to-earnings ratio of 13.19 and a beta of 8.34. Yirendai has a one year low of $19.85 and a one year high of $53.50.

Yirendai (NYSE:YRD) last posted its earnings results on Tuesday, November 14th. The technology company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.04). The business had revenue of $227.50 million for the quarter, compared to analyst estimates of $201.27 million. Yirendai had a net margin of 27.09% and a return on equity of 70.10%. The company’s revenue for the quarter was up 73.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.85 earnings per share. research analysts expect that Yirendai will post 3.15 EPS for the current fiscal year.

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A number of institutional investors and hedge funds have recently added to or reduced their stakes in YRD. Sylebra HK Co Ltd increased its holdings in Yirendai by 60.6% in the third quarter. Sylebra HK Co Ltd now owns 1,377,270 shares of the technology company’s stock valued at $57,763,000 after buying an additional 519,576 shares in the last quarter. Dimensional Fund Advisors LP purchased a new position in Yirendai in the first quarter valued at $6,131,000. Renaissance Technologies LLC increased its holdings in Yirendai by 224.3% in the first quarter. Renaissance Technologies LLC now owns 170,600 shares of the technology company’s stock valued at $4,280,000 after buying an additional 118,000 shares in the last quarter. Victory Capital Management Inc. purchased a new position in Yirendai in the third quarter valued at $3,845,000. Finally, Public Employees Retirement System of Ohio increased its holdings in Yirendai by 115.4% in the first quarter. Public Employees Retirement System of Ohio now owns 72,999 shares of the technology company’s stock valued at $1,832,000 after buying an additional 39,108 shares in the last quarter. 7.35% of the stock is owned by institutional investors.

About Yirendai

Yirendai Ltd. is engaged in online consumer finance marketplace business in China. The Company conducts its business in China, through Yi Ren Heng Ye Technology Development (Beijing) Co, Ltd. (Heng Ye) and its consolidated variable interest entity, Heng Cheng Technology Development (Beijing) Co, Ltd.

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