Bitauto (BITA) Stock Rating Lowered by ValuEngine

ValuEngine lowered shares of Bitauto (NYSE:BITA) from a hold rating to a sell rating in a research report sent to investors on Thursday, January 3rd.

A number of other equities research analysts have also recently issued reports on the stock. Credit Suisse Group restated a neutral rating and set a $19.00 price target on shares of Bitauto in a report on Thursday, November 29th. started coverage on shares of Bitauto in a report on Monday, October 1st. They set a hold rating for the company. Finally, Zacks Investment Research cut shares of Bitauto from a buy rating to a hold rating in a research note on Tuesday, December 18th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $25.60.

BITA opened at $19.90 on Thursday. Bitauto has a 12-month low of $15.61 and a 12-month high of $39.54. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $1.49 billion, a PE ratio of -5.82 and a beta of 1.74.

Bitauto (NYSE:BITA) last posted its earnings results on Wednesday, November 28th. The information services provider reported ($0.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.53). The business had revenue of $396.70 million for the quarter, compared to analyst estimates of $388.27 million. Bitauto had a negative return on equity of 4.56% and a negative net margin of 8.89%. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.26 earnings per share. Sell-side analysts anticipate that Bitauto will post 0.81 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in BITA. Platinum Investment Management Ltd. lifted its stake in Bitauto by 85.0% during the second quarter. Platinum Investment Management Ltd. now owns 4,374,448 shares of the information services provider’s stock worth $104,024,000 after purchasing an additional 2,010,200 shares during the period. JPMorgan Chase & Co. lifted its stake in Bitauto by 107.6% during the third quarter. JPMorgan Chase & Co. now owns 1,602,302 shares of the information services provider’s stock worth $36,853,000 after purchasing an additional 830,477 shares during the period. Perpetual Ltd lifted its stake in Bitauto by 182.0% during the third quarter. Perpetual Ltd now owns 445,500 shares of the information services provider’s stock worth $10,247,000 after purchasing an additional 287,500 shares during the period. Cornerstone Wealth Management LLC bought a new position in Bitauto during the third quarter worth about $5,221,000. Finally, Krane Funds Advisors LLC increased its holdings in shares of Bitauto by 28.1% during the third quarter. Krane Funds Advisors LLC now owns 505,914 shares of the information services provider’s stock worth $11,636,000 after buying an additional 110,943 shares in the last quarter. Hedge funds and other institutional investors own 36.67% of the company’s stock.

Bitauto Company Profile

Bitauto Holdings Limited, through its subsidiaries, provides Internet content and marketing services, and transaction services for the automobile industry in the People's Republic of China. It operates in three segments: Advertising and Subscription Business, Transaction Services Business, and Digital Marketing Solutions Business.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Bitauto (NYSE:BITA)

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