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 analyst has rated the stock with a strong buy rating.
Brokers have set a 12-month consensus price objective of $8.00 for the company, according to Zacks. Zacks has also assigned China Automotive Systems an industry rank of 74 out of 265 based on the ratings given to its competitors.
Several research analysts recently issued reports on the company. ValuEngine cut China Automotive Systems from a “buy” rating to a “hold” rating in a research note on Monday, November 27th. Zacks Investment Research cut China Automotive Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, November 21st.
China Automotive Systems (CAAS) opened at $4.66 on Tuesday. China Automotive Systems has a 52 week low of $4.30 and a 52 week high of $5.90. The stock has a market capitalization of $145.88, a P/E ratio of 5.83 and a beta of 2.14.
Large investors have recently made changes to their positions in the stock. Macquarie Group Ltd. bought a new stake in China Automotive Systems during the 3rd quarter valued at $277,000. Spark Investment Management LLC boosted its position in China Automotive Systems by 30.2% during the 4th quarter. Spark Investment Management LLC now owns 62,100 shares of the auto parts company’s stock valued at $298,000 after acquiring an additional 14,400 shares in the last quarter. Finally, Chartwell Investment Partners LLC boosted its position in China Automotive Systems by 39.0% during the 4th quarter. Chartwell Investment Partners LLC now owns 569,963 shares of the auto parts company’s stock valued at $2,736,000 after acquiring an additional 159,843 shares in the last quarter. 5.64% of the stock is currently owned by institutional investors.
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About China Automotive Systems
China Automotive Systems, Inc, (China Automotive) is a holding company. The Company, through its subsidiary, Great Genesis Holdings Limited (Genesis), owns interests in over eight Sino-joint ventures and over five subsidiaries in the People’s Republic of China (PRC), which manufacture power steering systems and/or related products for various segments of the automobile industry.
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