StockNews.com Begins Coverage on China Automotive Systems (NASDAQ:CAAS)

StockNews.com initiated coverage on shares of China Automotive Systems (NASDAQ:CAASGet Rating) in a research report issued on Wednesday. The firm set a “buy” rating on the auto parts company’s stock.

Separately, Zacks Investment Research downgraded shares of China Automotive Systems from a “buy” rating to a “hold” rating in a report on Friday, January 14th.

China Automotive Systems stock opened at $2.74 on Wednesday. The company’s 50-day moving average price is $2.80 and its 200-day moving average price is $2.97. China Automotive Systems has a twelve month low of $2.20 and a twelve month high of $5.49. The company has a quick ratio of 1.09, a current ratio of 1.43 and a debt-to-equity ratio of 0.01. The company has a market cap of $84.53 million, a PE ratio of 7.83 and a beta of 2.81.

China Automotive Systems (NASDAQ:CAASGet Rating) last posted its earnings results on Wednesday, March 30th. The auto parts company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.10. China Automotive Systems had a net margin of 2.23% and a return on equity of 3.38%. During the same period in the prior year, the firm posted $0.01 EPS. As a group, sell-side analysts expect that China Automotive Systems will post 0.33 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of the stock. Invesco Ltd. grew its holdings in China Automotive Systems by 21.6% during the 3rd quarter. Invesco Ltd. now owns 21,611 shares of the auto parts company’s stock valued at $70,000 after purchasing an additional 3,834 shares during the last quarter. Zacks Investment Management bought a new position in China Automotive Systems during the 3rd quarter valued at about $33,000. Morgan Stanley grew its holdings in China Automotive Systems by 3,918.7% during the 2nd quarter. Morgan Stanley now owns 12,056 shares of the auto parts company’s stock valued at $59,000 after purchasing an additional 11,756 shares during the last quarter. MARSHALL WACE ASIA Ltd bought a new position in China Automotive Systems during the 3rd quarter valued at about $43,000. Finally, Citadel Advisors LLC grew its stake in China Automotive Systems by 66.7% in the 4th quarter. Citadel Advisors LLC now owns 36,508 shares of the auto parts company’s stock worth $98,000 after acquiring an additional 14,606 shares in the last quarter. Institutional investors own 3.24% of the company’s stock.

About China Automotive Systems (Get Rating)

China Automotive Systems, Inc, through its subsidiaries, manufactures and sells automotive systems and components in the People's Republic of China. It 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 and hydraulic power steering systems and parts.

Further Reading

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.