Bitauto Holdings Limited (BITA) Stock Rating Upgraded by BidaskClub
Bitauto Holdings Limited (NYSE:BITA) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Friday.
Several other equities analysts have also recently weighed in on BITA. Zacks Investment Research raised Bitauto Holdings Limited from a “sell” rating to a “hold” rating in a report on Wednesday. ValuEngine raised Bitauto Holdings Limited from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Finally, HSBC Holdings plc reaffirmed a “buy” rating and issued a $33.00 price objective (up from $27.00) on shares of Bitauto Holdings Limited in a report on Wednesday, May 17th.
Shares of Bitauto Holdings Limited (NYSE:BITA) traded up 0.118% during mid-day trading on Friday, reaching $38.295. The company’s stock had a trading volume of 461,170 shares. The firm has a 50 day moving average price of $34.95 and a 200 day moving average price of $28.91. The firm’s market cap is $2.67 billion. Bitauto Holdings Limited has a 52-week low of $16.56 and a 52-week high of $41.64.
Bitauto Holdings Limited (NYSE:BITA) last announced its quarterly earnings data on Tuesday, August 15th. The information services provider reported $0.16 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by $0.05. The company had revenue of $320.20 million during the quarter, compared to analyst estimates of $282.86 million. Bitauto Holdings Limited had a negative net margin of 4.76% and a positive return on equity of 3.85%. Bitauto Holdings Limited’s revenue was up 52.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.20 earnings per share. On average, equities analysts predict that Bitauto Holdings Limited will post $1.15 EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Platinum Investment Management Ltd. raised its holdings in Bitauto Holdings Limited by 315.2% in the 2nd quarter. Platinum Investment Management Ltd. now owns 2,379,526 shares of the information services provider’s stock valued at $68,411,000 after acquiring an additional 1,806,426 shares in the last quarter. State Street Corp raised its holdings in Bitauto Holdings Limited by 1.8% in the 2nd quarter. State Street Corp now owns 117,280 shares of the information services provider’s stock valued at $3,372,000 after acquiring an additional 2,080 shares in the last quarter. Hillhouse Capital Management Ltd. acquired a new position in Bitauto Holdings Limited in the 2nd quarter valued at $32,315,000. Macquarie Group Ltd. raised its holdings in Bitauto Holdings Limited by 76.6% in the 2nd quarter. Macquarie Group Ltd. now owns 375,000 shares of the information services provider’s stock valued at $10,781,000 after acquiring an additional 162,600 shares in the last quarter. Finally, UBS Oconnor LLC acquired a new position in Bitauto Holdings Limited in the 2nd quarter valued at $4,571,000. 19.66% of the stock is owned by hedge funds and other institutional investors.
Bitauto Holdings Limited Company Profile
Bitauto Holdings Limited is a provider of Internet content and marketing services for China’s automotive industry. The Company’s bitauto.com and taoche.com Websites provide consumers with information on new and used automobile pricing, and promotional information, specifications, reviews and consumer feedback.
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