ValuEngine upgraded shares of China Automotive Systems (NASDAQ:CAAS) from a hold rating to a buy rating in a research report sent to investors on Sunday.

Separately, Zacks Investment Research upgraded shares of China Automotive Systems from a hold rating to a buy rating and set a $5.50 target price on the stock in a research report on Tuesday, August 15th.

China Automotive Systems (NASDAQ:CAAS) opened at $4.91 on Friday. The company has a market cap of $157.26, a price-to-earnings ratio of 6.21 and a beta of 2.38. China Automotive Systems has a 52-week low of $4.30 and a 52-week high of $7.96.

A number of large investors have recently modified their holdings of CAAS. Stuyvesant Capital Management raised its position in China Automotive Systems by 12.0% in the 2nd quarter. Stuyvesant Capital Management now owns 46,807 shares of the auto parts company’s stock worth $227,000 after purchasing an additional 5,000 shares during the period. Spark Investment Management LLC purchased a new position in China Automotive Systems in the 2nd quarter worth $228,000. Finally, Macquarie Group Ltd. purchased a new position in China Automotive Systems in the 3rd quarter worth $277,000. Institutional investors own 5.34% of the company’s stock.

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China Automotive Systems Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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