Zacks Investment Research cut shares of Zhejiang Expressway Co., Ltd. (NASDAQ:ZHEXY) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.

According to Zacks, “Zhejiang Expressway Co., Ltd operates as an infrastructure company primarily engaged in operating and development of and investment in high grade roads in The Peoples’ Republic of China. Its operations include construction, design, toll collection, maintenance, and management of and the provision of technical consultation and ancillary services to high-grade roads; ancillary services for high-grade roads such as gas station along the road, car rescue, car wash, warehousing, food and beverage, advertising. Major assets under management include Shanghai-Hangzhou-Ningbo Expressway, Shangsan Expressway, ancillary facilities along the two expressways, and Zheshang Securities. Zhejiang Expressway Co., Ltd is headquartered in Hong Kong, Hong Kong. “

Shares of Zhejiang Expressway Co. (NASDAQ:ZHEXY) opened at 12.355 on Wednesday. Zhejiang Expressway Co. has a 1-year low of $9.47 and a 1-year high of $13.50. The firm’s 50-day moving average price is $12.78 and its 200 day moving average price is $12.34. The company has a market capitalization of $5.37 billion and a PE ratio of 11.131.

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About Zhejiang Expressway Co.

Zhejiang Expressway Co, Limited is a Hong Kong-based investment holding company principally engaged in high-grade roads businesses. The Company operates its businesses through three segments. The Toll Operation segment is engaged in the operation and management of high-grade roads, and the earning tolls from expressways.

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