China Automotive Systems, Inc. (CAAS) Receives Consensus Rating of “Strong Buy” from Analysts
China Automotive Systems, Inc. (NASDAQ:CAAS) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.
Analysts have set a one year consensus target price of $8.00 for the company and are predicting that the company will post $0.21 EPS for the current quarter, according to Zacks. Zacks has also assigned China Automotive Systems an industry rank of 55 out of 265 based on the ratings given to its competitors.
A number of equities analysts recently issued reports on CAAS shares. ValuEngine lowered China Automotive Systems from a “strong-buy” rating to a “buy” rating in a report on Friday, September 22nd. Zacks Investment Research raised China Automotive Systems from a “hold” rating to a “buy” rating and set a $5.50 price objective for the company in a report on Tuesday, August 15th.
Shares of China Automotive Systems (CAAS) traded down $0.03 during mid-day trading on Thursday, reaching $5.09. The company had a trading volume of 31,900 shares, compared to its average volume of 42,244. China Automotive Systems has a 1-year low of $4.30 and a 1-year high of $7.96. The company has a market cap of $162.02, a price-to-earnings ratio of 6.40 and a beta of 2.40.
COPYRIGHT VIOLATION NOTICE: “China Automotive Systems, Inc. (CAAS) Receives Consensus Rating of “Strong Buy” from Analysts” was first reported by Watch List News and is owned by of Watch List News. If you are reading this piece of content on another publication, it was illegally stolen and republished in violation of United States & international trademark and copyright legislation. The correct version of this piece of content can be read at https://www.watchlistnews.com/china-automotive-systems-inc-caas-receives-consensus-rating-of-strong-buy-from-analysts/1722646.html.
Hedge funds have recently modified their holdings of the stock. Stuyvesant Capital Management grew its holdings 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 buying an additional 5,000 shares in the last quarter. Spark Investment Management LLC bought a new position in China Automotive Systems in the 2nd quarter worth approximately $228,000. Macquarie Group Ltd. bought a new position in China Automotive Systems in the 3rd quarter worth approximately $277,000. Finally, Hanson & Doremus Investment Management grew its holdings in China Automotive Systems by 11.1% in the 2nd quarter. Hanson & Doremus Investment Management now owns 86,545 shares of the auto parts company’s stock worth $419,000 after buying an additional 8,680 shares in the last quarter. 5.36% of the stock is owned by institutional investors and hedge funds.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for China Automotive Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for China Automotive Systems Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.