China Automotive Systems, Inc. (NASDAQ:CAAS) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday.

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. “

Separately, ValuEngine raised shares of China Automotive Systems from a “buy” rating to a “strong-buy” rating in a report on Friday, October 6th.

Shares of China Automotive Systems (NASDAQ CAAS) opened at 5.23 on Wednesday. China Automotive Systems has a 12-month low of $3.72 and a 12-month high of $7.96. The firm has a market cap of $165.50 million, a price-to-earnings ratio of 6.38 and a beta of 2.19. The firm’s 50-day moving average is $5.36 and its 200-day moving average is $5.01.

China Automotive Systems (NASDAQ:CAAS) last posted its earnings results on Thursday, August 10th. The auto parts company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.14. China Automotive Systems had a net margin of 5.43% and a return on equity of 8.30%. The firm had revenue of $117.66 million during the quarter, compared to analyst estimates of $106.74 million. During the same period last year, the firm posted $0.14 earnings per share. Analysts predict that China Automotive Systems will post $0.86 earnings per share for the current fiscal year.

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A number of institutional investors and hedge funds have recently modified their holdings of CAAS. Stuyvesant Capital Management lifted its position in China Automotive Systems by 12.0% in the second quarter. Stuyvesant Capital Management now owns 46,807 shares of the auto parts company’s stock worth $227,000 after buying an additional 5,000 shares during the last quarter. Spark Investment Management LLC bought a new stake in shares of China Automotive Systems during the second quarter worth $228,000. Finally, Hanson & Doremus Investment Management lifted its position in shares of China Automotive Systems by 11.1% during the second quarter. Hanson & Doremus Investment Management now owns 86,545 shares of the auto parts company’s stock worth $419,000 after purchasing an additional 8,680 shares during the last quarter. Institutional investors own 4.96% 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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