Bitauto (NYSE:BITA) Upgraded by ValuEngine to Sell

ValuEngine upgraded shares of Bitauto (NYSE:BITA) from a strong sell rating to a sell rating in a research report report published on Wednesday, ValuEngine reports.

A number of other equities analysts have also weighed in on BITA. Bank of America reduced their price objective on Bitauto from $19.00 to $16.00 and set a buy rating for the company in a research note on Thursday, August 29th. Zacks Investment Research lowered Bitauto from a hold rating to a sell rating in a research note on Tuesday, September 10th. Finally, JPMorgan Chase & Co. reduced their price objective on Bitauto from $25.00 to $20.00 and set an overweight rating for the company in a research note on Friday, June 28th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $19.00.

BITA stock traded down $0.16 during midday trading on Wednesday, reaching $15.03. The stock had a trading volume of 924,167 shares, compared to its average volume of 819,767. The stock has a market cap of $1.10 billion, a PE ratio of 10.74 and a beta of 0.74. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a fifty day simple moving average of $13.39 and a two-hundred day simple moving average of $12.49. Bitauto has a 52-week low of $9.46 and a 52-week high of $25.34.

Bitauto (NYSE:BITA) last issued its earnings results on Thursday, September 5th. The information services provider reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.28). The firm had revenue of $406.60 million during the quarter, compared to analysts’ expectations of $388.27 million. Bitauto had a positive return on equity of 2.21% and a negative net margin of 4.86%. The business’s revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the business earned $0.49 EPS. On average, sell-side analysts predict that Bitauto will post 1.03 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BITA. FMR LLC purchased a new position in shares of Bitauto during the 1st quarter valued at about $13,942,000. Invesco Ltd. increased its stake in shares of Bitauto by 10.3% in the 2nd quarter. Invesco Ltd. now owns 6,302,696 shares of the information services provider’s stock valued at $65,989,000 after purchasing an additional 589,306 shares in the last quarter. River & Mercantile Asset Management LLP increased its stake in shares of Bitauto by 75.5% in the 2nd quarter. River & Mercantile Asset Management LLP now owns 554,108 shares of the information services provider’s stock valued at $5,799,000 after purchasing an additional 238,430 shares in the last quarter. Parametric Portfolio Associates LLC purchased a new position in shares of Bitauto in the 2nd quarter valued at about $1,467,000. Finally, D. E. Shaw & Co. Inc. increased its stake in shares of Bitauto by 485.4% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 131,568 shares of the information services provider’s stock valued at $1,378,000 after purchasing an additional 109,095 shares in the last quarter. Institutional investors and hedge funds own 24.35% of the company’s stock.

About Bitauto

Bitauto Holdings Limited, through its subsidiaries, provides Internet content and marketing services, and transaction services for the automobile industry in the People's Republic of China. It operates in three segments: Advertising and Subscription Business, Transaction Services Business, and Digital Marketing Solutions Business.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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