Zacks Investment Research upgraded shares of Bitauto (NYSE:BITA) from a strong sell rating to a hold rating in a report issued on Tuesday morning, Zacks.com reports.

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. “

Separately, ValuEngine raised Bitauto from a sell rating to a hold rating in a research note on Friday, December 28th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $25.20.

NYSE:BITA opened at $14.79 on Tuesday. The firm has a market cap of $1.04 billion, a PE ratio of 10.56 and a beta of 1.16. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.19 and a quick ratio of 1.15. Bitauto has a 52-week low of $13.81 and a 52-week high of $30.72.

Bitauto (NYSE:BITA) last released its quarterly earnings results on Tuesday, March 19th. The information services provider reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.01. The business had revenue of $453.70 million during the quarter, compared to the consensus estimate of $425.94 million. Bitauto had a negative return on equity of 0.42% and a negative net margin of 5.67%. The business’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.12 EPS. On average, analysts expect that Bitauto will post 1.75 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of BITA. Wedbush Securities Inc. lifted its position in shares of Bitauto by 24.8% during the 1st quarter. Wedbush Securities Inc. now owns 15,100 shares of the information services provider’s stock worth $240,000 after buying an additional 3,000 shares during the period. Segantii Capital Management Ltd bought a new position in shares of Bitauto during the 1st quarter worth approximately $92,000. Norges Bank bought a new position in shares of Bitauto during the 4th quarter worth approximately $9,222,000. River & Mercantile Asset Management LLP lifted its position in shares of Bitauto by 27.5% during the 4th quarter. River & Mercantile Asset Management LLP now owns 318,713 shares of the information services provider’s stock worth $7,883,000 after buying an additional 68,658 shares during the period. Finally, Bank of America Corp DE increased its holdings in Bitauto by 449.9% during the 4th quarter. Bank of America Corp DE now owns 12,043 shares of the information services provider’s stock valued at $298,000 after purchasing an additional 9,853 shares in the last quarter. Hedge funds and other institutional investors own 36.71% of the company’s stock.

About Bitauto

Bitauto Holdings Limited, through its subsidiaries, provides Internet content and marketing services, and transaction services for the automobile industry in the People's Republic of China. It operates in three segments: Advertising and Subscription Business, Transaction Services Business, and Digital Marketing Solutions Business.

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