Bitauto Holdings Ltd. (NYSE:BITA) Given Consensus Rating of “Buy” by Brokerages
Shares of Bitauto Holdings Ltd. (NYSE:BITA) have received an average recommendation of “Buy” from the ten ratings firms that are currently covering the firm. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $32.86.
BITA has been the topic of several recent analyst reports. Macquarie initiated coverage on shares of Bitauto Holdings in a research report on Friday, July 8th. They set an “outperform” rating and a $34.00 price objective on the stock. Zacks Investment Research downgraded shares of Bitauto Holdings from a “hold” rating to a “sell” rating in a research report on Friday, July 15th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Bitauto Holdings in a research report on Wednesday, August 31st. They set an “overweight” rating and a $35.00 price objective on the stock.
Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its stake in Bitauto Holdings by 8.5% in the first quarter. BlackRock Inc. now owns 8,600 shares of the company’s stock worth $213,000 after buying an additional 671 shares during the period. BlackRock Fund Advisors increased its stake in Bitauto Holdings by 12.6% in the first quarter. BlackRock Fund Advisors now owns 58,004 shares of the company’s stock worth $1,438,000 after buying an additional 6,480 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in Bitauto Holdings by 2.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 51,613 shares of the company’s stock worth $1,279,000 after buying an additional 1,243 shares during the period. Contrarius Investment Management Ltd increased its stake in Bitauto Holdings by 116.4% in the first quarter. Contrarius Investment Management Ltd now owns 1,488,878 shares of the company’s stock worth $36,909,000 after buying an additional 800,868 shares during the period. Finally, Greenwoods Asset Management Ltd increased its stake in Bitauto Holdings by 14.2% in the first quarter. Greenwoods Asset Management Ltd now owns 2,856,847 shares of the company’s stock worth $70,821,000 after buying an additional 355,847 shares during the period. Hedge funds and other institutional investors own 20.89% of the company’s stock.
Shares of Bitauto Holdings (NYSE:BITA) traded up 4.01% during trading on Wednesday, hitting $31.10. The stock had a trading volume of 343,707 shares. The stock has a 50 day moving average of $27.54 and a 200 day moving average of $25.83. The firm’s market cap is $1.93 billion. Bitauto Holdings has a 52-week low of $16.09 and a 52-week high of $37.31.
Bitauto Holdings (NYSE:BITA) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $0.21 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by $0.09. The firm had revenue of $209.40 million for the quarter, compared to the consensus estimate of $204.27 million. Bitauto Holdings had a negative net margin of 11.77% and a positive return on equity of 3.24%. The firm’s revenue for the quarter was up 29.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.31 earnings per share. On average, equities analysts anticipate that Bitauto Holdings will post $0.87 EPS for the current year.
About Bitauto Holdings
Bitauto Holdings Limited is a provider of Internet content and marketing services for China’s automotive industry. The Company’s bitauto.com and taoche.com Websites provide consumers with information on new and used automobile pricing, and promotional information, specifications, reviews and consumer feedback.
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