Zacks: China Automotive Systems, Inc. (CAAS) Given Consensus Recommendation of “Strong Buy” by Brokerages

China Automotive Systems, Inc. (NASDAQ:CAAS) has received a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.

Brokerages have set a 1-year consensus price objective of $8.00 for the company and are anticipating that the company will post $0.21 earnings per share for the current quarter, according to Zacks. Zacks has also assigned China Automotive Systems an industry rank of 111 out of 265 based on the ratings given to related companies.

A number of brokerages have recently issued reports on CAAS. Zacks Investment Research raised shares of China Automotive Systems from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 16th. ValuEngine raised shares of China Automotive Systems from a “hold” rating to a “buy” rating in a research report on Sunday, December 3rd.

Shares of China Automotive Systems (CAAS) traded down $0.07 during trading on Thursday, hitting $4.52. 5,880 shares of the stock were exchanged, compared to its average volume of 42,912. China Automotive Systems has a 52-week low of $4.30 and a 52-week high of $5.90. The stock has a market cap of $143.98, a P/E ratio of 5.69 and a beta of 2.19.

China Automotive Systems (NASDAQ:CAAS) last issued its quarterly earnings data on Thursday, November 9th. The auto parts company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). China Automotive Systems had a return on equity of 7.93% and a net margin of 5.05%. The firm had revenue of $118.37 million during the quarter, compared to analysts’ expectations of $112.41 million. analysts predict that China Automotive Systems will post 0.83 earnings per share for the current year.

A hedge fund recently bought a new stake in China Automotive Systems stock. Macquarie Group Ltd. acquired a new position in shares of China Automotive Systems, Inc. (NASDAQ:CAAS) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 53,245 shares of the auto parts company’s stock, valued at approximately $277,000. Macquarie Group Ltd. owned about 0.17% of China Automotive Systems at the end of the most recent reporting period. 5.34% of the stock is owned by institutional investors.

WARNING: This piece was first published by American Banking News and is the property of of American Banking News. If you are reading this piece on another domain, it was copied illegally and reposted in violation of United States & international copyright and trademark laws. The legal version of this piece can be accessed at https://www.americanbankingnews.com/2018/02/08/zacks-china-automotive-systems-inc-caas-given-consensus-recommendation-of-strong-buy-by-brokerages.html.

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.

Get a free copy of the Zacks research report on China Automotive Systems (CAAS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for China Automotive Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for China Automotive Systems and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply