Zacks Investment Research downgraded shares of China Automotive Systems, Inc. (NASDAQ:CAAS) from a strong-buy rating to a hold rating in a research note published on Wednesday.

According to Zacks, “China Automotive Systems is a holding company and has no significant business operations other than their interest in Genesis in which they manufacture power steering systems and other component parts for automobiles. “

Separately, ValuEngine lowered shares of China Automotive Systems from a strong-buy rating to a buy rating in a research report on Friday, September 22nd.

China Automotive Systems (CAAS) traded down 0.76% during mid-day trading on Wednesday, reaching $5.25. 15,789 shares of the company were exchanged. The stock has a market capitalization of $166.13 million, a P/E ratio of 6.40 and a beta of 2.19. China Automotive Systems has a 12 month low of $3.72 and a 12 month high of $7.96. The company’s 50 day moving average price is $5.36 and its 200-day moving average price is $5.00.

China Automotive Systems (NASDAQ:CAAS) last posted its quarterly earnings data on Thursday, August 10th. The auto parts company reported $0.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.14. China Automotive Systems had a net margin of 5.43% and a return on equity of 8.30%. The company had revenue of $117.66 million during the quarter, compared to analyst estimates of $106.74 million. During the same quarter last year, the firm posted $0.14 EPS. On average, equities analysts expect that China Automotive Systems will post $0.86 earnings per share for the current fiscal year.

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Several large investors have recently bought and sold shares of CAAS. Stuyvesant Capital Management boosted its position in shares of China Automotive Systems by 12.0% during the 2nd quarter. Stuyvesant Capital Management now owns 46,807 shares of the auto parts company’s stock valued at $227,000 after purchasing an additional 5,000 shares in the last quarter. Spark Investment Management LLC bought a new position in shares of China Automotive Systems during the 2nd quarter valued at about $228,000. Finally, Hanson & Doremus Investment Management boosted its position in shares of China Automotive Systems by 11.1% during the 2nd quarter. Hanson & Doremus Investment Management now owns 86,545 shares of the auto parts company’s stock valued at $419,000 after purchasing an additional 8,680 shares in the last quarter. Institutional investors own 4.96% of the company’s stock.

About China Automotive Systems

China Automotive Systems, Inc, (China Automotive) is a holding company. The Company, through its subsidiary, Great Genesis Holdings Limited (Genesis), owns interests in over eight Sino-joint ventures and over five subsidiaries in the People’s Republic of China (PRC), which manufacture power steering systems and/or related products for various segments of the automobile industry.

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