China Automotive Systems, Inc. (CAAS) Raised to Strong-Buy at ValuEngine
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.
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.
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