Bitauto Hldg Ltd (BITA) Receives Consensus Rating of “Hold” from Analysts

Bitauto Hldg Ltd (NYSE:BITA) has received an average recommendation of “Hold” from the seven ratings firms that are covering the stock, reports. Two research analysts have rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $39.67.

A number of equities analysts have recently issued reports on BITA shares. Citigroup started coverage on shares of Bitauto in a research report on Tuesday, January 2nd. They set a “buy” rating and a $40.00 target price on the stock. JPMorgan Chase reduced their target price on shares of Bitauto from $49.00 to $46.00 and set an “overweight” rating on the stock in a research report on Monday, March 19th. Finally, Zacks Investment Research lowered shares of Bitauto from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 28th.

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A number of hedge funds and other institutional investors have recently made changes to their positions in BITA. Castleark Management LLC acquired a new position in Bitauto in the fourth quarter valued at approximately $153,000. Bank of New York Mellon Corp acquired a new position in Bitauto in the fourth quarter valued at approximately $261,000. Cubist Systematic Strategies LLC acquired a new position in Bitauto in the third quarter valued at approximately $351,000. Profund Advisors LLC lifted its holdings in Bitauto by 73.1% in the fourth quarter. Profund Advisors LLC now owns 13,915 shares of the information services provider’s stock valued at $442,000 after buying an additional 5,874 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in Bitauto by 163.0% in the third quarter. Russell Investments Group Ltd. now owns 10,727 shares of the information services provider’s stock valued at $479,000 after buying an additional 6,649 shares during the period. Institutional investors and hedge funds own 27.24% of the company’s stock.

Shares of BITA stock opened at $19.97 on Tuesday. Bitauto has a 1 year low of $19.42 and a 1 year high of $54.42. The company has a market cap of $1,440.26, a PE ratio of -5.84 and a beta of 2.99.

Bitauto (NYSE:BITA) last announced its earnings results on Thursday, March 15th. The information services provider reported ($1.52) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($1.62). Bitauto had a negative return on equity of 7.37% and a negative net margin of 17.41%. The company had revenue of $413.50 million for the quarter, compared to analyst estimates of $378.73 million. During the same quarter in the previous year, the company posted $0.03 earnings per share. Bitauto’s revenue for the quarter was up 64.2% on a year-over-year basis. research analysts anticipate that Bitauto will post 0.1 EPS for the current fiscal year.

Bitauto declared that its Board of Directors has authorized a stock buyback plan on Monday, March 19th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the information services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

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Bitauto Company Profile

Bitauto Holdings Limited provides Internet content and marketing, and transaction services for the automotive industry in the People's Republic of China. The company operates in three segments: Advertising and Subscription Business, Transaction Services Business, and Digital Marketing Solutions Business.

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