China Automotive Systems (NASDAQ:CAAS) Lifted to Strong-Buy at StockNews.com

StockNews.com upgraded shares of China Automotive Systems (NASDAQ:CAASFree Report) from a buy rating to a strong-buy rating in a research report sent to investors on Friday.

China Automotive Systems Stock Performance

Shares of NASDAQ:CAAS opened at $3.63 on Friday. The business has a fifty day moving average of $3.37 and a 200-day moving average of $3.41. The firm has a market cap of $109.59 million, a PE ratio of 2.90 and a beta of 2.45. China Automotive Systems has a twelve month low of $3.04 and a twelve month high of $5.73.

China Automotive Systems (NASDAQ:CAASGet Free Report) last announced its quarterly earnings data on Thursday, March 28th. The auto parts company reported $0.36 EPS for the quarter. The firm had revenue of $159.16 million during the quarter. China Automotive Systems had a return on equity of 11.06% and a net margin of 6.53%.

Hedge Funds Weigh In On China Automotive Systems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. bought a new position in China Automotive Systems during the fourth quarter worth about $31,000. Zacks Investment Management bought a new position in China Automotive Systems during the second quarter worth about $49,000. American Century Companies Inc. bought a new position in China Automotive Systems during the first quarter worth about $50,000. Tower Research Capital LLC TRC bought a new position in China Automotive Systems during the first quarter worth about $54,000. Finally, XTX Topco Ltd bought a new position in China Automotive Systems during the first quarter worth about $63,000. Institutional investors own 5.17% of the company’s stock.

China Automotive Systems Company Profile

(Get Free Report)

China Automotive Systems, Inc, through its subsidiaries, manufactures and sells automotive systems and components in the People's Republic of China 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 electronic and hydraulic power steering systems and parts.

Further Reading

Receive News & Ratings for China Automotive Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for China Automotive Systems and related companies with MarketBeat.com's FREE daily email newsletter.