China Automotive Systems, Inc. (NASDAQ:CAAS) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday.

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. “

Separately, ValuEngine cut China Automotive Systems from a “strong-buy” rating to a “buy” rating in a report on Friday, September 22nd.

Shares of China Automotive Systems (NASDAQ CAAS) traded down 1.12% during trading on Wednesday, hitting $5.29. The stock had a trading volume of 32,265 shares. The firm has a market capitalization of $167.40 million, a P/E ratio of 6.45 and a beta of 2.19. The stock’s 50-day moving average price is $5.36 and its 200 day moving average price is $5.00. China Automotive Systems has a 1-year low of $3.72 and a 1-year high of $7.96.

China Automotive Systems (NASDAQ:CAAS) last announced its earnings results on Thursday, August 10th. The auto parts company reported $0.28 EPS for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.14. China Automotive Systems had a return on equity of 8.30% and a net margin of 5.43%. The company had revenue of $117.66 million for the quarter, compared to analysts’ expectations of $106.74 million. During the same period last year, the firm earned $0.14 EPS. On average, analysts anticipate that China Automotive Systems will post $0.86 earnings per share for the current year.

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A number of institutional investors have recently made changes to their positions in the stock. Hanson & Doremus Investment Management raised its holdings in China Automotive Systems by 11.1% in the 2nd quarter. Hanson & Doremus Investment Management now owns 86,545 shares of the auto parts company’s stock worth $419,000 after purchasing an additional 8,680 shares during the period. Spark Investment Management LLC bought a new position in China Automotive Systems in the 2nd quarter worth $228,000. Finally, Stuyvesant Capital Management raised its holdings in China Automotive Systems by 12.0% in the 2nd quarter. Stuyvesant Capital Management now owns 46,807 shares of the auto parts company’s stock worth $227,000 after purchasing an additional 5,000 shares during the period. 4.96% of the stock is currently owned by institutional investors.

China Automotive Systems Company Profile

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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