StockNews.com initiated coverage on shares of China Automotive Systems (NASDAQ:CAAS – Free Report) in a report published on Friday morning. The brokerage issued a buy rating on the auto parts company’s stock.
China Automotive Systems Stock Performance
China Automotive Systems stock opened at $4.45 on Friday. China Automotive Systems has a fifty-two week low of $3.17 and a fifty-two week high of $4.97. The firm’s fifty day moving average price is $4.09 and its 200-day moving average price is $4.08. The stock has a market cap of $134.33 million, a P/E ratio of 4.24 and a beta of 2.33.
China Automotive Systems declared that its Board of Directors has approved a stock repurchase plan on Monday, November 18th that permits the company to buyback $5.00 million in outstanding shares. This buyback authorization permits the auto parts company to repurchase up to 3.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its shares are undervalued.
Institutional Trading of China Automotive Systems
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, the United States, 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 electronics and systems and parts.
Featured Stories
- Five stocks we like better than China Automotive Systems
- Stock Market Upgrades: What Are They?
- Symbotic Shares Down 37%—Is It Time for Bravery or Caution?
- 3 Healthcare Dividend Stocks to Buy
- High-Yield Healthcare: 3 Stocks With Strong Dividends
- What Does a Stock Split Mean?
- Beyond the Bargain Bin: 3 Stocks Leading Discount Retail
Receive News & Ratings for China Automotive Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for China Automotive Systems and related companies with MarketBeat.com's FREE daily email newsletter.