Cango Inc – (NYSE:CANG) has been given a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that cover the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy rating. Cango’s rating score has improved by 33.3% in the last three months as a result of a number of analysts’ upgrades and downgrades.
Brokerages have set a 1 year consensus target price of $12.90 for the company and are expecting that the company will post $0.16 earnings per share for the current quarter, according to Zacks. Zacks has also given Cango an industry rank of 164 out of 255 based on the ratings given to its competitors.
Separately, Zacks Investment Research raised Cango from a “sell” rating to a “hold” rating in a report on Thursday, March 21st.
Shares of CANG stock opened at $7.00 on Thursday. The firm has a market cap of $1.07 billion and a P/E ratio of 22.58. Cango has a 1 year low of $6.66 and a 1 year high of $13.90. The company has a quick ratio of 5.62, a current ratio of 3.04 and a debt-to-equity ratio of 0.09.
Cango (NYSE:CANG) last issued its quarterly earnings data on Wednesday, March 27th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.14). The firm had revenue of $46.71 million for the quarter. Cango had a return on equity of 14.26% and a net margin of 27.82%. As a group, research analysts predict that Cango will post 0.85 earnings per share for the current year.
A hedge fund recently raised its stake in Cango stock. Primavera Capital Management Ltd increased its holdings in Cango Inc – (NYSE:CANG) by 21.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,243,939 shares of the company’s stock after purchasing an additional 1,089,607 shares during the period. Cango accounts for 3.0% of Primavera Capital Management Ltd’s investment portfolio, making the stock its 4th biggest position. Primavera Capital Management Ltd owned about 4.13% of Cango worth $49,577,000 as of its most recent SEC filing. Institutional investors and hedge funds own 21.89% of the company’s stock.
Cango Inc operates an automotive transaction service platform that connects dealers, financial institutions, car buyers, and other industry participants in the People's Republic of China. It facilitates automotive financing services that include facilitating financing transactions from financial institutions to car buyers; automotive transactions between automotive wholesalers, dealers, and car buyers; and after-market services to car buyers.
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