Bitauto Holdings Ltd. (BITA) Downgraded by Zacks Investment Research
According to Zacks, “Bitauto Holdings Limited is engaged in providing internet content and marketing services for automotive industry in China. Its bitauto.com and ucar.cn websites provide consumers new and used automobile pricing information, specifications, reviews and consumer feedback. The Company operates in three segments- bitauto.com business, ucar.cn business and digital marketing solutions business. Bitauto.com business provides subscription services to new automobile dealers and advertising services to dealers and automakers on bitauto.com website. Bitauto’s ucar.cn business provides listing and advertising services to used automobile dealers on ucar.cn website. The Company’s digital marketing solutions business provides automakers with digital marketing solutions, including website creation and maintenance, online public relations, online marketing campaigns and advertising agent services. Bitauto Holdings Limited is headquartered in Beijing, the People’s Republic of China. “
Other research analysts also recently issued reports about the stock. Brean Capital reaffirmed a hold rating on shares of Bitauto Holdings in a research report on Tuesday, May 24th. Macquarie started 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. Finally, JPMorgan Chase & Co. started 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. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $32.00.
Shares of Bitauto Holdings (NYSE:BITA) opened at 25.64 on Wednesday. Bitauto Holdings has a 1-year low of $16.09 and a 1-year high of $37.31. The stock’s market cap is $1.59 billion. The company’s 50-day moving average is $26.71 and its 200 day moving average is $25.29.
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 Zacks’ consensus estimate of $0.30 by $0.09. Bitauto Holdings had a negative net margin of 11.77% and a positive return on equity of 3.24%. The company had revenue of $209.40 million for the quarter, compared to analysts’ expectations of $204.27 million. During the same period in the previous year, the firm posted $0.31 earnings per share. The business’s revenue for the quarter was up 29.1% on a year-over-year basis. Equities research analysts anticipate that Bitauto Holdings will post $0.87 EPS for the current year.
A number of hedge funds have recently bought and sold shares of the company. Penserra Capital Management LLC increased its stake in Bitauto Holdings by 10.0% in the second quarter. Penserra Capital Management LLC now owns 6,916 shares of the company’s stock valued at $186,000 after buying an additional 630 shares in the last quarter. 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 valued at $213,000 after buying an additional 671 shares in the last quarter. 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 valued at $1,279,000 after buying an additional 1,243 shares in the last quarter. State Street Corp increased its stake in Bitauto Holdings by 3.0% in the first quarter. State Street Corp now owns 83,411 shares of the company’s stock valued at $2,067,000 after buying an additional 2,401 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its stake in 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 in the last quarter. 20.91% of the stock is owned by institutional investors.
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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