According to Zacks, “China Automotive Systems is a holding company and has no significant business operations other than their interest in Genesis in which they manufacture power steering systems and other component parts for automobiles. “
Separately, ValuEngine lowered China Automotive Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, December 24th.
China Automotive Systems (NASDAQ:CAAS) last announced its quarterly earnings results on Tuesday, November 12th. The auto parts company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.12. The company had revenue of $100.54 million during the quarter, compared to analyst estimates of $104.41 million. China Automotive Systems had a return on equity of 1.63% and a net margin of 1.14%. During the same period in the prior year, the company earned $0.01 earnings per share. On average, equities analysts predict that China Automotive Systems will post 0.3 EPS for the current fiscal year.
An institutional investor recently raised its position in China Automotive Systems stock. Renaissance Technologies LLC boosted its position in shares of China Automotive Systems, Inc. (NASDAQ:CAAS) by 6.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 346,124 shares of the auto parts company’s stock after purchasing an additional 20,433 shares during the quarter. Renaissance Technologies LLC owned about 1.07% of China Automotive Systems worth $827,000 as of its most recent filing with the Securities & Exchange Commission. 2.39% of the stock is owned by institutional investors and hedge funds.
China Automotive Systems Company Profile
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.
See Also: What causes a stock to be most active?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for China Automotive Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for China Automotive Systems and related companies with MarketBeat.com's FREE daily email newsletter.