Shares of China Automotive Systems, Inc. (NASDAQ:CAAS) have earned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy recommendation.
Brokers have set a 1-year consensus price target of $3.25 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 given China Automotive Systems an industry rank of 217 out of 255 based on the ratings given to its competitors.
CAAS has been the subject of several research reports. Zacks Investment Research upgraded shares of China Automotive Systems from a “hold” rating to a “buy” rating and set a $2.25 price target for the company in a research note on Wednesday. ValuEngine upgraded shares of China Automotive Systems from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st.
NASDAQ:CAAS opened at $1.93 on Wednesday. The company has a fifty day simple moving average of $2.01 and a two-hundred day simple moving average of $2.36. The company has a market cap of $59.85 million, a price-to-earnings ratio of 47.50 and a beta of 1.59. China Automotive Systems has a 52 week low of $1.70 and a 52 week high of $5.00.
China Automotive Systems (NASDAQ:CAAS) last posted its quarterly earnings results on Thursday, August 8th. The auto parts company reported $0.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.07. The business had revenue of $105.75 million during the quarter, compared to the consensus estimate of $121.01 million. China Automotive Systems had a net margin of 0.26% and a return on equity of 0.37%. During the same quarter in the previous year, the firm posted $0.03 earnings per share. As a group, research analysts expect that China Automotive Systems will post 0.16 earnings per share for the current fiscal year.
An institutional investor recently raised its position in China Automotive Systems stock. Renaissance Technologies LLC lifted its position in shares of China Automotive Systems, Inc. (NASDAQ:CAAS) by 6.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 346,124 shares of the auto parts company’s stock after purchasing an additional 20,433 shares during the period. Renaissance Technologies LLC owned about 1.07% of China Automotive Systems worth $827,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 2.70% of the company’s stock.
China Automotive Systems Company Profile
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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