Brokerages Set $3.25 Target Price for China Automotive Systems, Inc. (NASDAQ:CAAS)

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

Brokers have set a 1 year consensus price objective of $3.25 for the company and are predicting that the company will post $0.01 EPS for the current quarter, according to Zacks. Zacks has also given China Automotive Systems an industry rank of 164 out of 255 based on the ratings given to related companies.

A number of equities analysts have commented on CAAS shares. ValuEngine raised shares of China Automotive Systems from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Zacks Investment Research raised shares of China Automotive Systems from a “hold” rating to a “buy” rating and set a $2.25 price objective for the company in a research note on Wednesday, October 9th.

A hedge fund recently raised its stake in China Automotive Systems stock. Renaissance Technologies LLC grew its holdings in China Automotive Systems, Inc. (NASDAQ:CAAS) by 6.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 346,124 shares of the auto parts company’s stock after buying an additional 20,433 shares during the period. Renaissance Technologies LLC owned approximately 1.07% of China Automotive Systems worth $827,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 2.58% of the company’s stock.

NASDAQ CAAS traded up $0.02 on Friday, reaching $1.99. The company had a trading volume of 4 shares, compared to its average volume of 8,676. China Automotive Systems has a 12 month low of $1.70 and a 12 month high of $5.00. The stock has a market capitalization of $62.99 million, a PE ratio of 24.88 and a beta of 1.59. The firm’s 50 day moving average price is $1.98 and its 200 day moving average price is $2.20.

China Automotive Systems (NASDAQ:CAAS) last issued its quarterly earnings data on Thursday, August 8th. The auto parts company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.07. China Automotive Systems had a net margin of 0.26% and a return on equity of 0.37%. The business had revenue of $105.75 million during the quarter, compared to analysts’ expectations of $121.01 million. During the same period last year, the company posted $0.03 EPS. Equities research analysts expect that China Automotive Systems will post 0.16 earnings per share for the current fiscal year.

About China Automotive Systems

China Automotive Systems, Inc, through its subsidiaries, manufactures and sells automotive systems and components in the People's Republic of China. The company produces rack and pinion power steering gears for cars and light duty vehicles; integral power steering gears for heavy-duty vehicles; power steering parts for light duty vehicles; sensor modules; automobile steering systems and columns; and automobile electronic systems and parts.

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