China Automotive Systems Inc. (CAAS) Upgraded at Zacks Investment Research
China Automotive Systems Inc. (NASDAQ:CAAS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.
According to Zacks, “China Automotive Systems is a holding company and has no significant business operations other than their interest in Genesis in which they manufacture power steering systems and other component parts for automobiles. “
Shares of China Automotive Systems (NASDAQ:CAAS) traded up 0.77% on Monday, hitting $3.92. The stock had a trading volume of 10,091 shares. The stock has a market capitalization of $125.46 million, a PE ratio of 5.68 and a beta of 2.33. The firm’s 50 day moving average is $4.02 and its 200-day moving average is $3.93. China Automotive Systems has a one year low of $3.10 and a one year high of $6.31.
China Automotive Systems (NASDAQ:CAAS) last posted its earnings results on Thursday, August 11th. The company reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by $0.03. The business had revenue of $101 million for the quarter, compared to the consensus estimate of $107.58 million. China Automotive Systems had a return on equity of 7.20% and a net margin of 5.19%. During the same quarter in the prior year, the firm posted $0.24 earnings per share. Equities research analysts expect that China Automotive Systems will post $0.64 earnings per share for the current fiscal year.
A hedge fund recently bought a new stake in China Automotive Systems stock. Chartwell Investment Partners LLC purchased a new position in shares of China Automotive Systems Inc. (NASDAQ:CAAS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 421,070 shares of the company’s stock, valued at approximately $1,360,000. Chartwell Investment Partners LLC owned 1.31% of China Automotive Systems as of its most recent filing with the SEC. Hedge funds and other institutional investors own 4.86% of the company’s stock.
About China Automotive Systems
China Automotive Systems, Inc, (China Automotive) is a holding company. The Company, through its subsidiary, Great Genesis Holdings Limited (Genesis), owns interests in over eight Sino-joint ventures and over five subsidiaries in the People’s Republic of China (PRC), which manufacture power steering systems and/or related products for various segments of the automobile industry.
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