China Automotive Systems (NASDAQ:CAAS) Downgraded by StockNews.com

StockNews.com downgraded shares of China Automotive Systems (NASDAQ:CAASFree Report) from a strong-buy rating to a buy rating in a report released on Friday morning.

China Automotive Systems Trading Up 3.4 %

CAAS stock opened at $3.67 on Friday. The company has a market capitalization of $110.78 million, a P/E ratio of 2.84 and a beta of 2.47. China Automotive Systems has a twelve month low of $3.04 and a twelve month high of $5.73. The business has a 50 day simple moving average of $3.52 and a 200-day simple moving average of $3.43.

China Automotive Systems (NASDAQ:CAASGet Free Report) last posted its quarterly earnings data on Tuesday, May 14th. The auto parts company reported $0.27 earnings per share for the quarter. The business had revenue of $139.39 million during the quarter. China Automotive Systems had a return on equity of 10.84% and a net margin of 6.82%.

Institutional Investors Weigh In On China Automotive Systems

Hedge funds have recently modified their holdings of the stock. WINTON GROUP Ltd lifted its holdings in shares of China Automotive Systems by 78.9% during the third quarter. WINTON GROUP Ltd now owns 43,600 shares of the auto parts company’s stock worth $170,000 after purchasing an additional 19,231 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of China Automotive Systems by 32.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 47,261 shares of the auto parts company’s stock worth $184,000 after purchasing an additional 11,655 shares during the period. Finally, Empowered Funds LLC lifted its holdings in shares of China Automotive Systems by 8.2% during the first quarter. Empowered Funds LLC now owns 120,409 shares of the auto parts company’s stock worth $427,000 after purchasing an additional 9,100 shares during the period. 5.17% of the stock is owned by institutional investors and hedge funds.

About China Automotive Systems

(Get Free Report)

China Automotive Systems, Inc, through its subsidiaries, manufactures and sells automotive systems and components in the People's Republic of China, the United States, and internationally. It 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 electronics and systems and parts.

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