China Automotive Systems, Inc. (NASDAQ:CAAS) was upgraded by analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a research report issued on Tuesday.

Several other research analysts also recently issued reports on the company. Greenridge Global raised China Automotive Systems from a “hold” rating to a “buy” rating and set a $7.50 price objective on the stock in a report on Wednesday, April 5th. Zacks Investment Research cut shares of China Automotive Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, April 5th.

China Automotive Systems (NASDAQ:CAAS) traded down 0.78% during mid-day trading on Tuesday, reaching $5.06. The company had a trading volume of 41,449 shares. The stock has a market capitalization of $160.12 million, a price-to-earnings ratio of 7.23 and a beta of 2.53. China Automotive Systems has a 52-week low of $3.10 and a 52-week high of $7.96. The company’s 50 day moving average is $4.83 and its 200 day moving average is $5.08.

China Automotive Systems (NASDAQ:CAAS) last posted its quarterly earnings data on Thursday, May 11th. The auto parts company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by $0.01. China Automotive Systems had a return on equity of 7.61% and a net margin of 5.47%. The firm had revenue of $119.31 million for the quarter, compared to analyst estimates of $118.36 million. During the same period in the prior year, the company posted $0.18 EPS. Equities analysts predict that China Automotive Systems will post $0.72 earnings per share for the current year.

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Several hedge funds have recently modified their holdings of CAAS. Renaissance Technologies LLC boosted its stake in shares of China Automotive Systems by 39.1% in the fourth quarter. Renaissance Technologies LLC now owns 583,333 shares of the auto parts company’s stock valued at $3,127,000 after buying an additional 163,910 shares during the last quarter. First Manhattan Co. boosted its stake in shares of China Automotive Systems by 41.6% in the first quarter. First Manhattan Co. now owns 41,850 shares of the auto parts company’s stock valued at $173,000 after buying an additional 12,300 shares during the last quarter. Finally, Stuyvesant Capital Management boosted its stake in shares of China Automotive Systems by 4.0% in the first quarter. Stuyvesant Capital Management now owns 41,807 shares of the auto parts company’s stock valued at $209,000 after buying an additional 1,600 shares during the last quarter. Institutional investors own 4.57% of the company’s stock.

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

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