Shares of Bitauto Hldg Ltd (NYSE:BITA) have been assigned an average rating of “Hold” from the eight ratings firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $24.80.
BITA has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Bitauto from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. ValuEngine downgraded shares of Bitauto from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 1st. Finally, Bank of America reduced their price objective on shares of Bitauto from $20.00 to $19.00 and set a “buy” rating for the company in a report on Friday, May 31st.
Several large investors have recently added to or reduced their stakes in the company. FMR LLC acquired a new position in shares of Bitauto in the first quarter valued at $13,942,000. Marshall Wace North America L.P. acquired a new position in shares of Bitauto in the first quarter valued at about $35,000. Penserra Capital Management LLC grew its stake in shares of Bitauto by 1.5% in the first quarter. Penserra Capital Management LLC now owns 66,763 shares of the information services provider’s stock valued at $1,062,000 after acquiring an additional 965 shares in the last quarter. Krane Funds Advisors LLC grew its stake in shares of Bitauto by 32.7% in the first quarter. Krane Funds Advisors LLC now owns 435,517 shares of the information services provider’s stock valued at $6,933,000 after acquiring an additional 107,326 shares in the last quarter. Finally, Perpetual Ltd grew its stake in shares of Bitauto by 106.1% in the first quarter. Perpetual Ltd now owns 728,684 shares of the information services provider’s stock valued at $11,601,000 after acquiring an additional 375,132 shares in the last quarter. 27.87% of the stock is owned by institutional investors.
NYSE BITA traded down $0.28 during midday trading on Friday, hitting $10.57. The company had a trading volume of 1,061,911 shares, compared to its average volume of 788,828. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a market capitalization of $768.85 million, a price-to-earnings ratio of 7.55 and a beta of 1.10. Bitauto has a fifty-two week low of $9.46 and a fifty-two week high of $25.69.
Bitauto (NYSE:BITA) last posted its quarterly earnings results on Thursday, May 30th. The information services provider reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.10. The company had revenue of $407.50 million for the quarter, compared to analyst estimates of $368.34 million. Bitauto had a negative net margin of 3.57% and a positive return on equity of 1.93%. The business’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period last year, the business posted $0.13 EPS. As a group, sell-side analysts expect that Bitauto will post 1.62 earnings per share for the current fiscal year.
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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