Equities research analysts at Maxim Group downgraded shares of China Automotive Systems Inc (NASDAQ: CAAS) from a ?buy? rating to a ?hold? rating in a research note to investors on Wednesday.
Separately, analysts at Zacks Investment Research downgraded shares of China Automotive Systems Inc from a ?neutral? rating to an ?underperform? rating in a research note to investors on Monday, July 25th. Also, analysts at Oppenheimer (NYSE: OPY) initiated coverage on shares of China Automotive Systems Inc in a research note to investors on Thursday, July 14th. They set an ?outperform? rating and a $12.00 price target on the stock.
Shares of China Automotive Systems Inc traded up 4.09% during mid-day trading on Thursday, hitting $5.35. China Automotive Systems Inc has a 52 week low of $4.86 and a 52 week high of $17.98. The stock?s 50-day moving average is $7.72 and its 200-day moving average is $9.22. The company has a market cap of $150.2 million and a price-to-earnings ratio of 3.66.
China Automotive Systems Inc last announced its quarterly results on Friday, July 22nd. The company reported $0.22 earnings per share (EPS) for the previous quarter, missing the Thomson Reuters consensus estimate of $0.27 EPS by $0.05. The company?s quarterly revenue was up 8.1% on a year-over-year basis. On average, analysts predict that China Automotive Systems Inc will post $0.28 EPS next quarter.
China Automotive Systems, Inc. (China Automotive) is a holding company and has no significant business operations or assets other than its interest in Great Genesis Holdings Limited (Genesis). Through Genesis, the Company manufactures power steering systems and other component parts for automobiles. All operations are conducted through eight Sino-foreign joint ventures in China and a wholly owned subsidiary in the United States. The Company has business relations with more than 60 vehicle manufacturers, including FAW Group and Dongfeng Auto Group, automobile manufacturers in China; Shenyang Brilliance Jinbei Co., Ltd., light vehicle manufacturer in China; Chery Automobile Co., Ltd, state-owned car manufacturer in China, and Xi?an BYD Auto Co., Ltd and Zhejiang Geely Automobile Co., Ltd., car manufacturers.
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