China Automotive Systems (NASDAQ:CAAS) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of China Automotive Systems (NASDAQ:CAAS) from a hold rating to a buy rating in a research note published on Monday.

China Automotive Systems Stock Performance

Shares of NASDAQ CAAS opened at $4.05 on Monday. The stock has a 50 day moving average price of $4.08 and a 200 day moving average price of $4.20. The firm has a market capitalization of $122.19 million, a price-to-earnings ratio of 3.86 and a beta of 2.61. China Automotive Systems has a 52-week low of $3.34 and a 52-week high of $5.37.

China Automotive Systems (NASDAQ:CAAS) last released its quarterly earnings data on Wednesday, May 14th. The auto parts company reported $0.24 earnings per share for the quarter. China Automotive Systems had a return on equity of 8.22% and a net margin of 5.12%.

Institutional Investors Weigh In On China Automotive Systems

Several institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC increased its stake in China Automotive Systems by 4.8% during the 4th quarter. Renaissance Technologies LLC now owns 420,994 shares of the auto parts company’s stock valued at $1,726,000 after purchasing an additional 19,100 shares in the last quarter. Bridgeway Capital Management LLC grew its stake in China Automotive Systems by 2.6% during the 4th quarter. Bridgeway Capital Management LLC now owns 280,206 shares of the auto parts company’s stock valued at $1,149,000 after purchasing an additional 7,119 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of China Automotive Systems by 8.6% in the first quarter. Empowered Funds LLC now owns 156,258 shares of the auto parts company’s stock valued at $691,000 after purchasing an additional 12,402 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of China Automotive Systems by 18.5% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 126,280 shares of the auto parts company’s stock worth $558,000 after purchasing an additional 19,694 shares during the last quarter. Finally, Two Sigma Securities LLC acquired a new stake in shares of China Automotive Systems during the fourth quarter worth about $86,000. Institutional investors and hedge funds own 5.17% of the company’s stock.

China Automotive Systems Company Profile

China Automotive Systems, Inc, through its subsidiaries, manufactures and sells automotive systems and components in the People's Republic of China, the United States, and internationally. 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 electronics and systems and parts.