China Automotive Systems, Inc. (NASDAQ:CAAS) has received a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.
Brokerages have set a 1-year consensus price objective of $4.50 for the company and are anticipating that the company will post $0.01 earnings per share for the current quarter, according to Zacks. Zacks has also assigned China Automotive Systems an industry rank of 195 out of 256 based on the ratings given to related companies.
Several equities analysts have recently weighed in on CAAS shares. Greenridge Global restated a “buy” rating on shares of China Automotive Systems in a report on Friday, March 29th. Zacks Investment Research upgraded shares of China Automotive Systems from a “hold” rating to a “buy” rating and set a $3.00 price target for the company in a research report on Wednesday, February 6th. Finally, ValuEngine upgraded shares of China Automotive Systems from a “hold” rating to a “buy” rating in a research report on Friday, May 10th.
A hedge fund recently raised its stake in China Automotive Systems stock. Renaissance Technologies LLC increased its holdings in China Automotive Systems, Inc. (NASDAQ:CAAS) by 11.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 325,691 shares of the auto parts company’s stock after acquiring an additional 34,658 shares during the period. Renaissance Technologies LLC owned about 1.03% of China Automotive Systems worth $1,049,000 at the end of the most recent quarter. 2.70% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:CAAS traded up $0.02 during midday trading on Wednesday, hitting $2.31. The company had a trading volume of 900 shares, compared to its average volume of 12,271. China Automotive Systems has a 12 month low of $2.00 and a 12 month high of $5.00. The firm has a market capitalization of $69.85 million, a P/E ratio of 29.00 and a beta of 1.56.
China Automotive Systems (NASDAQ:CAAS) last issued its quarterly earnings data on Thursday, May 9th. The auto parts company reported $0.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.03. The business had revenue of $109.19 million for the quarter, compared to the consensus estimate of $126.56 million. China Automotive Systems had a negative return on equity of 0.17% and a negative net margin of 0.11%. During the same quarter last year, the business posted $0.14 EPS. On average, sell-side analysts predict that China Automotive Systems will post 0.17 earnings per share for the current year.
About China Automotive Systems
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.
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