China Automotive Systems (NASDAQ:CAAS) Coverage Initiated by Analysts at StockNews.com

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

A number of other research analysts also recently weighed in on CAAS. Zacks Investment Research downgraded China Automotive Systems from a “hold” rating to a “sell” rating in a report on Tuesday, May 24th. Greenridge Global lowered their target price on China Automotive Systems from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, May 24th.

Shares of China Automotive Systems stock opened at $2.91 on Friday. China Automotive Systems has a 12-month low of $2.20 and a 12-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 firm has a market capitalization of $89.78 million, a PE ratio of 8.31 and a beta of 2.66. The stock’s fifty day moving average is $2.92 and its 200-day moving average is $2.87.

China Automotive Systems (NASDAQ:CAASGet Rating) last issued its quarterly earnings results on Wednesday, March 30th. The auto parts company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.10. China Automotive Systems had a return on equity of 3.38% and a net margin of 2.23%. The business had revenue of $138.80 million for the quarter, compared to the consensus estimate of $126.10 million. During the same quarter in the previous year, the company posted $0.01 earnings per share. Analysts expect that China Automotive Systems will post 0.33 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Invesco Ltd. grew its stake in China Automotive Systems by 21.6% in the third 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 in the last quarter. Zacks Investment Management purchased a new position in China Automotive Systems in the third quarter valued at about $33,000. Morgan Stanley lifted its position in shares of China Automotive Systems by 3,918.7% in the second quarter. Morgan Stanley now owns 12,056 shares of the auto parts company’s stock worth $59,000 after buying an additional 11,756 shares during the last quarter. MARSHALL WACE ASIA Ltd acquired a new position in shares of China Automotive Systems during the 3rd quarter worth about $43,000. Finally, Citadel Advisors LLC lifted its position in shares of China Automotive Systems by 66.7% during the 4th quarter. Citadel Advisors LLC now owns 36,508 shares of the auto parts company’s stock worth $98,000 after purchasing an additional 14,606 shares during the last quarter. Hedge funds and other institutional investors own 3.38% of the company’s stock.

China Automotive Systems Company Profile (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.

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