Brokerages Set Bitauto Holdings Ltd. (BITA) PT at $31.00
Bitauto Holdings Ltd. (NYSE:BITA) has received a consensus rating of “Buy” from the eight research firms that are presently covering the firm. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $29.00.
Several brokerages have weighed in on BITA. Zacks Investment Research cut Bitauto Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday, October 4th. JPMorgan Chase & Co. assumed coverage on Bitauto Holdings in a research report on Wednesday, August 31st. They set an “overweight” rating and a $35.00 target price for the company.
A number of large investors have recently made changes to their positions in BITA. BlackRock Inc. raised its stake in shares of Bitauto Holdings by 2.4% in the third quarter. BlackRock Inc. now owns 7,896 shares of the company’s stock valued at $229,000 after buying an additional 182 shares during the period. Penserra Capital Management LLC raised its stake in shares of Bitauto Holdings by 6.3% in the third quarter. Penserra Capital Management LLC now owns 7,350 shares of the company’s stock valued at $213,000 after buying an additional 434 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Bitauto Holdings by 140.6% in the third quarter. Tower Research Capital LLC TRC now owns 4,090 shares of the company’s stock valued at $119,000 after buying an additional 2,390 shares during the period. Public Employees Retirement System of Ohio raised its stake in shares of Bitauto Holdings by 61.5% in the second quarter. Public Employees Retirement System of Ohio now owns 8,400 shares of the company’s stock valued at $226,000 after buying an additional 3,200 shares during the period. Finally, Wells Fargo & Company MN raised its stake in shares of Bitauto Holdings by 2.2% in the third quarter. Wells Fargo & Company MN now owns 175,522 shares of the company’s stock valued at $5,105,000 after buying an additional 3,821 shares during the period. 19.86% of the stock is owned by institutional investors.
Shares of Bitauto Holdings (NYSE:BITA) opened at 22.58 on Thursday. The company’s market cap is $1.55 billion. The company’s 50-day moving average is $27.42 and its 200 day moving average is $25.88. Bitauto Holdings has a 52-week low of $16.09 and a 52-week high of $33.16.
Bitauto Holdings (NYSE:BITA) last issued its quarterly earnings data on Wednesday, November 9th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.27 by $0.11. Bitauto Holdings had a negative net margin of 10.04% and a positive return on equity of 3.22%. The company had revenue of $224.90 million for the quarter, compared to the consensus estimate of $209.59 million. During the same quarter last year, the business posted $0.28 earnings per share. Bitauto Holdings’s revenue was up 34.2% on a year-over-year basis. On average, analysts anticipate that Bitauto Holdings will post $0.73 EPS for the current year.
Bitauto Holdings Company Profile
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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