Brokerages Set $12.90 Price Target for Cango Inc – (NYSE:CANG)

Shares of Cango Inc – (NYSE:CANG) have received an average broker rating score of 1.00 (Strong Buy) from the two brokers that cover the company, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy recommendation.

Brokerages have set a 1-year consensus price target of $12.90 for the company and are predicting that the company will post $0.19 EPS for the current quarter, according to Zacks. Zacks has also given Cango an industry rank of 74 out of 256 based on the ratings given to related companies.

Separately, Zacks Investment Research cut Cango from a “hold” rating to a “sell” rating in a research report on Friday, March 15th.

Shares of Cango stock traded down $0.46 during midday trading on Friday, hitting $5.03. The company’s stock had a trading volume of 115 shares, compared to its average volume of 3,366. The stock has a market cap of $760.06 million and a PE ratio of 16.23. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.06. Cango has a 1-year low of $4.70 and a 1-year high of $13.90.

Cango (NYSE:CANG) last issued its earnings results on Tuesday, May 28th. The company reported $0.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.08). The business had revenue of $52.40 million during the quarter. Cango had a return on equity of 7.96% and a net margin of 25.02%. Analysts expect that Cango will post 1.04 EPS for the current fiscal year.

The firm also recently announced a special dividend, which was paid on Tuesday, May 28th. Stockholders of record on Friday, May 10th were given a $0.125 dividend. The ex-dividend date of this dividend was Thursday, May 9th.

A hedge fund recently raised its stake in Cango stock. Primavera Capital Management Ltd boosted its position in shares of Cango Inc – (NYSE:CANG) by 21.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,243,939 shares of the company’s stock after purchasing an additional 1,089,607 shares during the period. Cango accounts for approximately 3.0% of Primavera Capital Management Ltd’s portfolio, making the stock its 4th biggest position. Primavera Capital Management Ltd owned about 4.13% of Cango worth $49,577,000 at the end of the most recent reporting period. Institutional investors own 21.88% of the company’s stock.

About Cango

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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