China Automotive Systems, Inc. (NASDAQ:CAAS) has received a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.
Brokerages have set a twelve-month consensus price objective of $7.00 for the company and are expecting that the company will post ($0.01) earnings per share for the current quarter, according to Zacks. Zacks has also given China Automotive Systems an industry rank of 220 out of 257 based on the ratings given to related companies.
A number of analysts have recently commented on CAAS shares. ValuEngine raised China Automotive Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, August 28th. Zacks Investment Research lowered China Automotive Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, August 22nd. Finally, TheStreet lowered China Automotive Systems from a “c-” rating to a “d+” rating in a research note on Friday, October 19th.
Shares of CAAS stock opened at $2.41 on Friday. China Automotive Systems has a 12 month low of $2.16 and a 12 month high of $5.23. The stock has a market cap of $80.53 million, a PE ratio of 7.11 and a beta of 1.96.
China Automotive Systems (NASDAQ:CAAS) last announced its quarterly earnings results on Thursday, August 9th. The auto parts company reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.14). China Automotive Systems had a negative net margin of 5.52% and a positive return on equity of 3.39%. The firm had revenue of $125.78 million for the quarter, compared to analyst estimates of $125.36 million. Sell-side analysts anticipate that China Automotive Systems will post 0.22 EPS for the current fiscal year.
A hedge fund recently raised its stake in China Automotive Systems stock. Hanson & Doremus Investment Management grew its position in shares of China Automotive Systems, Inc. (NASDAQ:CAAS) by 16.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 100,552 shares of the auto parts company’s stock after purchasing an additional 14,377 shares during the quarter. Hanson & Doremus Investment Management owned approximately 0.32% of China Automotive Systems worth $434,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 3.66% 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 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.
Featured Article: Hedge Funds
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.