ValuEngine Upgrades China Automotive Systems (CAAS) to Buy

China Automotive Systems (NASDAQ:CAAS) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Sunday.

Separately, Zacks Investment Research raised China Automotive Systems from a “hold” rating to a “buy” rating and set a $5.50 price target for the company in a research note on Tuesday, August 15th.

Shares of China Automotive Systems (NASDAQ:CAAS) opened at $5.09 on Friday. The stock has a market capitalization of $161.07, a price-to-earnings ratio of 6.36 and a beta of 2.38. China Automotive Systems has a 52 week low of $4.30 and a 52 week high of $7.96.

Hedge funds have recently modified their holdings of the business. Stuyvesant Capital Management lifted its stake in China Automotive Systems by 12.0% during the second 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 last quarter. Spark Investment Management LLC bought a new stake in China Automotive Systems during the second quarter worth about $228,000. Finally, Macquarie Group Ltd. bought a new stake in China Automotive Systems during the third quarter worth about $277,000. 5.34% of the stock is owned by hedge funds and other institutional investors.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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