Zacks: China Automotive Systems, Inc. (CAAS) Receives Consensus Recommendation of “Strong Buy” from Analysts

China Automotive Systems, Inc. (NASDAQ:CAAS) has earned 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 research analyst has rated the stock with a strong buy recommendation.

Analysts have set a 12-month consensus price objective of $6.00 for the company and are anticipating that the company will post $0.05 EPS for the current quarter, according to Zacks. Zacks has also given China Automotive Systems an industry rank of 232 out of 257 based on the ratings given to its competitors.

A number of analysts recently commented on CAAS shares. ValuEngine upgraded shares of China Automotive Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, August 28th. Zacks Investment Research cut shares of China Automotive Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, August 22nd. Finally, TheStreet cut shares of China Automotive Systems from a “c-” rating to a “d+” rating in a research note on Friday, October 19th.

Shares of NASDAQ:CAAS traded up $0.15 during trading on Friday, reaching $2.18. The stock had a trading volume of 51,629 shares, compared to its average volume of 40,114. China Automotive Systems has a one year low of $2.00 and a one year high of $5.23. The stock has a market capitalization of $68.98 million, a P/E ratio of 3.41 and a beta of 1.96.

China Automotive Systems (NASDAQ:CAAS) last released its earnings results on Friday, November 9th. The auto parts company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. The company had revenue of $112.08 million during the quarter, compared to analysts’ expectations of $118.29 million. China Automotive Systems had a negative net margin of 6.49% and a positive return on equity of 1.97%. Equities analysts expect that China Automotive Systems will post 0.23 earnings per share for the current fiscal year.

A hedge fund recently raised its stake in China Automotive Systems stock. Hanson & Doremus Investment Management increased its stake in China Automotive Systems, Inc. (NASDAQ:CAAS) by 16.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 100,552 shares of the auto parts company’s stock after purchasing an additional 14,377 shares during the period. Hanson & Doremus Investment Management owned 0.32% of China Automotive Systems worth $434,000 as of its most recent filing with the Securities & Exchange Commission. 2.85% of the stock is owned by institutional investors.

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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