Bitauto Holdings Limited (NYSE:BITA) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm currently has a $56.00 target price on the information services provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 11.33% from the company’s current price.

According to Zacks, “Bitauto Holdings Limited is engaged in providing internet content and marketing services for automotive industry in China. Its bitauto.com and ucar.cn websites provide consumers new and used automobile pricing information, specifications, reviews and consumer feedback. The Company operates in three segments- bitauto.com business, ucar.cn business and digital marketing solutions business. Bitauto.com business provides subscription services to new automobile dealers and advertising services to dealers and automakers on bitauto.com website. Bitauto’s ucar.cn business provides listing and advertising services to used automobile dealers on ucar.cn website. The Company’s digital marketing solutions business provides automakers with digital marketing solutions, including website creation and maintenance, online public relations, online marketing campaigns and advertising agent services. Bitauto Holdings Limited is headquartered in Beijing, the People’s Republic of China. “

Several other brokerages have also commented on BITA. BidaskClub upgraded shares of Bitauto Holdings Limited from a “hold” rating to a “buy” rating in a report on Friday, September 8th. ValuEngine upgraded shares of Bitauto Holdings Limited from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd.

Shares of Bitauto Holdings Limited (NYSE:BITA) traded up 0.20% on Tuesday, reaching $50.30. The company’s stock had a trading volume of 386,272 shares. Bitauto Holdings Limited has a 12 month low of $16.56 and a 12 month high of $54.42. The stock has a 50 day moving average of $45.69 and a 200-day moving average of $34.30. The firm’s market cap is $3.51 billion.

Bitauto Holdings Limited (NYSE:BITA) last posted its earnings results on Tuesday, August 15th. The information services provider reported $0.16 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.05). The firm had revenue of $320.20 million for the quarter, compared to analysts’ expectations of $282.86 million. Bitauto Holdings Limited had a positive return on equity of 3.85% and a negative net margin of 4.76%. The business’s revenue for the quarter was up 52.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.20 earnings per share. On average, analysts anticipate that Bitauto Holdings Limited will post $1.22 EPS for the current year.

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Several institutional investors and hedge funds have recently made changes to their positions in BITA. Platinum Investment Management Ltd. increased its position in shares of Bitauto Holdings Limited by 315.2% during the second 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. Hillhouse Capital Management Ltd. bought a new stake in shares of Bitauto Holdings Limited during the second quarter valued at approximately $32,315,000. Bamco Inc. NY increased its position in shares of Bitauto Holdings Limited by 74.2% during the second quarter. Bamco Inc. NY now owns 1,275,700 shares of the information services provider’s stock valued at $36,676,000 after acquiring an additional 543,312 shares in the last quarter. Cantillon Capital Management LLC increased its position in shares of Bitauto Holdings Limited by 10.4% during the second quarter. Cantillon Capital Management LLC now owns 3,800,612 shares of the information services provider’s stock valued at $109,268,000 after acquiring an additional 359,377 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Bitauto Holdings Limited by 265.8% during the first quarter. Dimensional Fund Advisors LP now owns 457,279 shares of the information services provider’s stock valued at $11,706,000 after acquiring an additional 332,279 shares in the last quarter. 19.93% of the stock is owned by 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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