Equities researchers at StockNews.com initiated coverage on shares of China Automotive Systems (NASDAQ:CAAS - Get Free Report) in a report issued on Thursday. The firm set a "buy" rating on the auto parts company's stock.
China Automotive Systems Stock Performance
Shares of China Automotive Systems stock traded down $0.14 on Thursday, hitting $3.65. 107,385 shares of the company traded hands, compared to its average volume of 55,931. The stock has a market capitalization of $110.12 million, a P/E ratio of 3.48 and a beta of 2.33. The business has a 50-day simple moving average of $4.38 and a 200 day simple moving average of $4.30. China Automotive Systems has a 52 week low of $3.34 and a 52 week high of $5.37.
China Automotive Systems (NASDAQ:CAAS - Get Free Report) last announced its quarterly earnings results on Friday, March 28th. The auto parts company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.16 by $0.14. China Automotive Systems had a net margin of 5.12% and a return on equity of 8.22%. The business had revenue of $188.70 million for the quarter, compared to analysts' expectations of $147.52 million.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the business. Two Sigma Securities LLC bought a new position in China Automotive Systems during the 4th quarter valued at about $86,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of China Automotive Systems by 22.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 106,586 shares of the auto parts company's stock valued at $437,000 after acquiring an additional 19,484 shares in the last quarter. Renaissance Technologies LLC grew its holdings in China Automotive Systems by 4.8% during the 4th quarter. Renaissance Technologies LLC now owns 420,994 shares of the auto parts company's stock worth $1,726,000 after acquiring an additional 19,100 shares in the last quarter. Bridgeway Capital Management LLC increased its position in China Automotive Systems by 2.6% during the 4th quarter. Bridgeway Capital Management LLC now owns 280,206 shares of the auto parts company's stock valued at $1,149,000 after purchasing an additional 7,119 shares during the period. Finally, Empowered Funds LLC raised its holdings in shares of China Automotive Systems by 5.2% in the 4th quarter. Empowered Funds LLC now owns 143,856 shares of the auto parts company's stock valued at $590,000 after purchasing an additional 7,119 shares in the last quarter. Institutional investors own 5.17% of the company's stock.
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.
Further Reading
Before you consider China Automotive Systems, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and China Automotive Systems wasn't on the list.
While China Automotive Systems currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Unlock your free copy of MarketBeat's comprehensive guide to pot stock investing and discover which cannabis companies are poised for growth. Plus, you'll get exclusive access to our daily newsletter with expert stock recommendations from Wall Street's top analysts.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
