China Automotive Systems (NASDAQ:CAAS) Upgraded by ValuEngine to “Buy”

ValuEngine upgraded shares of China Automotive Systems (NASDAQ:CAAS) from a hold rating to a buy rating in a research note issued to investors on Thursday, ValuEngine reports.

Separately, Zacks Investment Research upgraded shares of China Automotive Systems from a hold rating to a buy rating and set a $2.75 target price for the company in a report on Wednesday, July 10th.

NASDAQ:CAAS traded down $0.07 during mid-day trading on Thursday, hitting $2.18. 16,538 shares of the company’s stock traded hands, compared to its average volume of 11,632. The business has a 50 day simple moving average of $2.27. China Automotive Systems has a 1 year low of $2.00 and a 1 year high of $5.00. The stock has a market capitalization of $70.50 million, a P/E ratio of 27.25 and a beta of 1.54.

China Automotive Systems (NASDAQ:CAAS) last posted its earnings results on Thursday, May 9th. The auto parts company reported $0.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.03. China Automotive Systems had a negative net margin of 0.11% and a negative return on equity of 0.17%. The firm had revenue of $109.19 million during the quarter, compared to the consensus estimate of $126.56 million. During the same period last year, the firm posted $0.14 EPS. On average, equities analysts anticipate that China Automotive Systems will post 0.17 EPS for the current 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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