China Automotive Systems, Inc. (NASDAQ:CAAS) Receives Average Rating of “Strong Buy” from Brokerages
China Automotive Systems, Inc. (NASDAQ:CAAS) has been assigned an average broker rating score of 1.00 (Strong Buy) from the one analysts that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation.
Analysts have set a twelve-month consensus price objective of $4.50 for the company and are anticipating that the company will post $0.01 earnings per share for the current quarter, according to Zacks. Zacks has also given China Automotive Systems an industry rank of 197 out of 256 based on the ratings given to its competitors.
CAAS has been the topic of a number of recent research reports. ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Greenridge Global reissued a “buy” rating on shares of China Automotive Systems in a research report on Friday, March 29th. Finally, Zacks Investment Research lowered ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday, July 10th.
China Automotive Systems (NASDAQ:CAAS) last released its quarterly earnings results on Thursday, May 9th. The auto parts company reported $0.05 EPS for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.03. The company had revenue of $109.19 million for the quarter, compared to analyst estimates of $126.56 million. China Automotive Systems had a negative return on equity of 0.17% and a negative net margin of 0.11%. During the same quarter last year, the firm posted $0.14 earnings per share. As a group, analysts predict that China Automotive Systems will post 0.17 EPS for the current fiscal year.
About China Automotive Systems
China Automotive Systems, Inc, through its subsidiaries, manufactures and sells automotive systems and components in the People's Republic of China. The company produces rack and pinion power steering gears for cars and light duty vehicles; integral power steering gears for heavy-duty vehicles; power steering parts for light duty vehicles; sensor modules; automobile steering systems and columns; and automobile electronic systems and parts.
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