Shares of China Automotive Systems, Inc. (NASDAQ:CAAS) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.
Brokers have set a one year consensus price target of $3.00 for the company and are anticipating that the company will post $0.04 earnings per share for the current quarter, according to Zacks. Zacks has also assigned China Automotive Systems an industry rank of 229 out of 255 based on the ratings given to its competitors.
Several equities research analysts have recently issued reports on CAAS shares. Zacks Investment Research lowered China Automotive Systems from a “buy” rating to a “hold” rating in a report on Wednesday, February 12th. ValuEngine upgraded China Automotive Systems from a “sell” rating to a “hold” rating in a report on Wednesday, January 15th.
A hedge fund recently raised its stake in China Automotive Systems stock. Renaissance Technologies LLC grew its position in shares of China Automotive Systems, Inc. (NASDAQ:CAAS) by 29.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 454,410 shares of the auto parts company’s stock after buying an additional 104,319 shares during the quarter. Renaissance Technologies LLC owned approximately 1.45% of China Automotive Systems worth $1,431,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 2.73% of the company’s stock.
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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