Brokerages Set Bitauto Hldg Ltd (BITA) Target Price at $27.00

Bitauto Hldg Ltd (NYSE:BITA) has received an average rating of “Hold” from the ten brokerages that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $25.40.

Several brokerages have recently issued reports on BITA. Zacks Investment Research raised shares of Bitauto from a “sell” rating to a “hold” rating in a report on Thursday, August 30th. MED initiated coverage on shares of Bitauto in a research report on Monday, October 1st. They issued a “hold” rating on the stock. ValuEngine cut shares of Bitauto from a “sell” rating to a “strong sell” rating in a research report on Thursday, September 27th. JPMorgan Chase & Co. initiated coverage on shares of Bitauto in a research report on Wednesday, August 29th. They issued an “overweight” rating and a $38.00 price objective on the stock. Finally, Macquarie cut their price objective on shares of Bitauto from $29.00 to $23.00 and set a “hold” rating on the stock in a research report on Thursday, August 23rd.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Platinum Investment Management Ltd. lifted its position in Bitauto by 85.0% in the 2nd quarter. Platinum Investment Management Ltd. now owns 4,374,448 shares of the information services provider’s stock valued at $104,024,000 after acquiring an additional 2,010,200 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Bitauto by 107.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,602,302 shares of the information services provider’s stock worth $36,853,000 after buying an additional 830,477 shares in the last quarter. Jupiter Asset Management Ltd. lifted its position in Bitauto by 13.3% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 1,002,062 shares of the information services provider’s stock worth $23,829,000 after buying an additional 117,398 shares in the last quarter. Vanguard Group Inc. lifted its position in Bitauto by 6.0% during the 3rd quarter. Vanguard Group Inc. now owns 867,482 shares of the information services provider’s stock worth $19,952,000 after buying an additional 48,810 shares in the last quarter. Finally, Krane Funds Advisors LLC lifted its position in Bitauto by 28.1% during the 3rd quarter. Krane Funds Advisors LLC now owns 505,914 shares of the information services provider’s stock worth $11,636,000 after buying an additional 110,943 shares in the last quarter. 37.18% of the stock is currently owned by institutional investors and hedge funds.

Shares of BITA stock traded down $0.11 on Wednesday, hitting $18.71. The stock had a trading volume of 760,272 shares, compared to its average volume of 774,671. Bitauto has a twelve month low of $15.61 and a twelve month high of $39.54. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of -5.47 and a beta of 2.74. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.51.

Bitauto (NYSE:BITA) last announced its quarterly earnings results on Wednesday, November 28th. The information services provider reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.53). Bitauto had a negative net margin of 8.89% and a negative return on equity of 4.56%. The firm had revenue of $396.70 million during the quarter, compared to analyst estimates of $388.27 million. During the same period last year, the firm earned $0.26 EPS. Bitauto’s quarterly revenue was up 12.6% on a year-over-year basis. Research analysts expect that Bitauto will post 0.83 earnings per share for the current year.

About Bitauto

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

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Analyst Recommendations for Bitauto (NYSE:BITA)

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