China Automotive Systems Inc. (CAAS) Upgraded at Zacks Investment Research
China Automotive Systems Inc. (NASDAQ:CAAS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Monday.
According to Zacks, “China Automotive Systems is a holding company and has no significant business operations other than their interest in Genesis in which they manufacture power steering systems and other component parts for automobiles. “
Shares of China Automotive Systems (NASDAQ:CAAS) traded up 0.77% during mid-day trading on Monday, hitting $3.92. The stock had a trading volume of 10,091 shares. The firm’s 50 day moving average price is $4.02 and its 200 day moving average price is $3.93. The company has a market cap of $125.46 million, a P/E ratio of 5.68 and a beta of 2.33. China Automotive Systems has a 1-year low of $3.10 and a 1-year high of $6.31.
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China Automotive Systems (NASDAQ:CAAS) last announced its quarterly earnings results on Thursday, August 11th. The company reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.20 by $0.03. China Automotive Systems had a net margin of 5.19% and a return on equity of 7.20%. The firm earned $101 million during the quarter, compared to the consensus estimate of $107.58 million. During the same quarter in the previous year, the company posted $0.24 earnings per share. Analysts predict that China Automotive Systems will post $0.64 earnings per share for the current fiscal year.
A hedge fund recently bought a new stake in China Automotive Systems stock. Chartwell Investment Partners LLC acquired a new position in shares of China Automotive Systems Inc. (NASDAQ:CAAS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 421,070 shares of the company’s stock, valued at approximately $1,360,000. Chartwell Investment Partners LLC owned 1.31% of China Automotive Systems as of its most recent filing with the SEC. 4.86% of the stock is owned by institutional investors and hedge funds.
About China Automotive Systems
China Automotive Systems, Inc, (China Automotive) is a holding company. The Company, through its subsidiary, Great Genesis Holdings Limited (Genesis), owns interests in over eight Sino-joint ventures and over five subsidiaries in the People’s Republic of China (PRC), which manufacture power steering systems and/or related products for various segments of the automobile industry.
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