China Automotive Systems, Inc. (NASDAQ:CAAS) was upgraded by stock analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a note issued to investors on Friday.

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

China Automotive Systems (NASDAQ CAAS) traded up 1.15% on Friday, reaching $5.30. 123,207 shares of the company’s stock traded hands. The firm has a market capitalization of $167.71 million, a P/E ratio of 6.46 and a beta of 2.19. The stock has a 50-day moving average of $5.36 and a 200 day moving average of $5.00. China Automotive Systems has a 52 week low of $3.72 and a 52 week high of $7.96.

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

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Several hedge funds have recently added to or reduced their stakes in the company. Hanson & Doremus Investment Management grew 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 buying an additional 8,680 shares in the last quarter. Spark Investment Management LLC acquired a new stake in shares of China Automotive Systems during the second quarter worth approximately $228,000. Finally, Stuyvesant Capital Management grew its position in shares of China Automotive Systems by 12.0% during 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 in the last quarter. 4.96% 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.

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