China Automotive Systems, Inc. (NASDAQ:CAAS) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation.
Brokers have set a 1 year consensus target price of $8.00 for the company and are expecting that the company will post $0.21 EPS for the current quarter, according to Zacks. Zacks has also assigned China Automotive Systems an industry rank of 119 out of 265 based on the ratings given to related companies.
A number of research analysts have weighed in on the stock. ValuEngine cut shares of China Automotive Systems from a “buy” rating to a “hold” rating in a report on Monday, November 27th. Zacks Investment Research cut shares of China Automotive Systems from a “hold” rating to a “sell” rating in a report on Tuesday, November 21st.
Hedge funds have recently added to or reduced their stakes in the company. Macquarie Group Ltd. purchased a new stake in shares of China Automotive Systems during the third quarter worth about $277,000. Spark Investment Management LLC increased its stake in shares of China Automotive Systems by 30.2% during the fourth quarter. Spark Investment Management LLC now owns 62,100 shares of the auto parts company’s stock worth $298,000 after purchasing an additional 14,400 shares in the last quarter. Finally, Chartwell Investment Partners LLC increased its stake in shares of China Automotive Systems by 39.0% during the fourth quarter. Chartwell Investment Partners LLC now owns 569,963 shares of the auto parts company’s stock worth $2,736,000 after purchasing an additional 159,843 shares in the last quarter. 5.34% of the stock is owned by institutional investors and hedge funds.
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China Automotive Systems Company Profile
China Automotive Systems, Inc, (China Automotive) is a holding company. The Company, through its subsidiary, Great Genesis Holdings Limited (Genesis), owns interests in over eight Sino-joint ventures and over five subsidiaries in the People’s Republic of China (PRC), which manufacture power steering systems and/or related products for various segments of the automobile industry.
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