Zacks: China Automotive Systems, Inc. (CAAS) Given $4.50 Average Price Target by Analysts

Shares of China Automotive Systems, Inc. (NASDAQ:CAAS) have earned an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy recommendation.

Brokers have set a 1-year consensus target price of $4.50 for the company and are predicting that the company will post $0.02 earnings per share for the current quarter, according to Zacks. Zacks has also given China Automotive Systems an industry rank of 221 out of 255 based on the ratings given to related companies.

A number of research firms have issued reports on CAAS. Zacks Investment Research cut China Automotive Systems from a “buy” rating to a “strong sell” rating in a report on Wednesday, April 3rd. Greenridge Global restated a “buy” rating on shares of China Automotive Systems in a report on Friday, March 29th. Finally, ValuEngine upgraded China Automotive Systems from a “sell” rating to a “hold” rating in a report on Monday, April 1st.

CAAS stock traded down $0.16 during trading on Wednesday, hitting $2.85. The company had a trading volume of 32,889 shares, compared to its average volume of 32,432. China Automotive Systems has a one year low of $2.00 and a one year high of $5.00. The stock has a market capitalization of $91.67 million, a PE ratio of 35.63 and a beta of 1.66. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.45 and a quick ratio of 1.19.

China Automotive Systems (NASDAQ:CAAS) last announced its earnings results on Thursday, March 28th. The auto parts company reported ($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.15). The company had revenue of $124.30 million during the quarter, compared to the consensus estimate of $137.40 million. China Automotive Systems had a net margin of 0.47% and a return on equity of 0.75%. During the same quarter in the previous year, the company earned $0.02 earnings per share. As a group, research analysts expect that China Automotive Systems will post 0.24 earnings per share for the current year.

China Automotive Systems Company Profile

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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