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.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at

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.

5 Day Chart for NASDAQ:CAAS

Get a free copy of the Zacks research report on China Automotive Systems (CAAS)

For more information about research offerings from Zacks Investment Research, visit

Receive News & Ratings for China Automotive Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for China Automotive Systems Inc. and related companies with's FREE daily email newsletter.