China Automotive Systems (CAAS) Rating Increased to Buy at ValuEngine

China Automotive Systems (NASDAQ:CAAS) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Sunday.

Separately, Zacks Investment Research raised shares of China Automotive Systems from a “hold” rating to a “buy” rating and set a $5.50 target price on the stock in a report on Tuesday, August 15th.

Shares of China Automotive Systems (CAAS) opened at $4.97 on Friday. The firm has a market cap of $161.07, a P/E ratio of 6.36 and a beta of 2.38. China Automotive Systems has a twelve month low of $4.30 and a twelve month high of $7.96.

Institutional investors have recently bought and sold shares of the stock. Stuyvesant Capital Management increased its holdings in 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 worth $227,000 after acquiring an additional 5,000 shares during the period. Spark Investment Management LLC bought a new position in shares of China Automotive Systems in the 2nd quarter worth $228,000. Finally, Macquarie Group Ltd. bought a new position in shares of China Automotive Systems in the 3rd quarter worth $277,000. 5.34% of the stock is currently owned by institutional investors and hedge funds.

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China Automotive Systems Company Profile

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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