China Automotive Systems (NASDAQ:CAAS – Get Free Report) announced its earnings results on Friday. The auto parts company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.19, RTT News reports. China Automotive Systems had a return on equity of 8.82% and a net margin of 5.32%. The company had revenue of $137.54 million for the quarter.
China Automotive Systems Stock Down 1.5 %
Shares of CAAS opened at $3.38 on Monday. The firm has a market cap of $102.04 million, a price-to-earnings ratio of 3.28 and a beta of 2.40. China Automotive Systems has a 52-week low of $3.10 and a 52-week high of $9.70. The business’s 50 day moving average is $3.59 and its two-hundred day moving average is $4.44.
Institutional Investors Weigh In On China Automotive Systems
Institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. acquired a new stake in shares of China Automotive Systems during the 4th quarter valued at approximately $31,000. Zacks Investment Management acquired a new stake in shares of China Automotive Systems during the 2nd quarter valued at approximately $49,000. American Century Companies Inc. acquired a new stake in shares of China Automotive Systems during the 1st quarter valued at approximately $50,000. Tower Research Capital LLC TRC acquired a new stake in shares of China Automotive Systems during the 1st quarter valued at approximately $54,000. Finally, XTX Topco Ltd acquired a new stake in shares of China Automotive Systems during the 1st quarter valued at approximately $63,000. 5.98% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
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 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.
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