China Automotive Systems (NASDAQ:CAAS) released its earnings results on Friday. The auto parts company reported $0.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.02, MarketWatch Earnings reports. China Automotive Systems had a negative net margin of 5.52% and a positive return on equity of 3.39%. The business had revenue of $112.08 million during the quarter, compared to analysts’ expectations of $118.29 million. China Automotive Systems updated its FY 2018 guidance to EPS.
Shares of NASDAQ CAAS traded down $0.21 during mid-day trading on Friday, hitting $2.21. The company had a trading volume of 28,593 shares, compared to its average volume of 30,865. China Automotive Systems has a 12 month low of $2.16 and a 12 month high of $5.23. The stock has a market cap of $80.20 million, a PE ratio of 3.45 and a beta of 1.96.
An institutional investor recently raised its position in China Automotive Systems stock. Hanson & Doremus Investment Management lifted its stake in China Automotive Systems, Inc. (NASDAQ:CAAS) by 16.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 100,552 shares of the auto parts company’s stock after buying an additional 14,377 shares during the period. Hanson & Doremus Investment Management owned about 0.32% of China Automotive Systems worth $434,000 at the end of the most recent reporting period. Institutional investors own 3.66% of the company’s stock.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research cut shares of China Automotive Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, August 22nd. ValuEngine upgraded shares of China Automotive Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, August 28th. Finally, TheStreet cut shares of China Automotive Systems from a “c-” rating to a “d+” rating in a research note on Friday, October 19th.
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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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