Bitauto Hldg Ltd (BITA) Receives Consensus Rating of “Hold” from Brokerages

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Shares of Bitauto Hldg Ltd (NYSE:BITA) have been assigned an average rating of “Hold” from the nine analysts that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $27.00.

A number of equities research analysts have recently weighed in on BITA shares. MED started coverage on Bitauto in a research note on Monday, October 1st. They set a “hold” rating for the company. JPMorgan Chase & Co. started coverage on Bitauto in a research note on Wednesday, August 29th. They set an “overweight” rating and a $38.00 price target for the company. ValuEngine raised Bitauto from a “strong sell” rating to a “sell” rating in a research note on Monday, October 22nd. Macquarie cut their price target on Bitauto from $29.00 to $23.00 and set a “hold” rating for the company in a research note on Thursday, August 23rd. Finally, Zacks Investment Research raised Bitauto from a “sell” rating to a “hold” rating in a research note on Thursday, August 30th.

Several institutional investors and hedge funds have recently bought and sold shares of BITA. Northern Trust Corp raised its stake in shares of Bitauto by 10.5% during the 1st quarter. Northern Trust Corp now owns 27,320 shares of the information services provider’s stock worth $577,000 after purchasing an additional 2,599 shares in the last quarter. BlackRock Inc. raised its stake in shares of Bitauto by 10.9% in the 1st quarter. BlackRock Inc. now owns 398,236 shares of the information services provider’s stock valued at $8,422,000 after acquiring an additional 39,231 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Bitauto by 332.1% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,367 shares of the information services provider’s stock valued at $113,000 after acquiring an additional 4,125 shares in the last quarter. Guggenheim Capital LLC raised its stake in shares of Bitauto by 14.1% in the 1st quarter. Guggenheim Capital LLC now owns 157,280 shares of the information services provider’s stock valued at $3,326,000 after acquiring an additional 19,381 shares in the last quarter. Finally, Millennium Management LLC raised its stake in shares of Bitauto by 2,168.7% in the 1st quarter. Millennium Management LLC now owns 372,151 shares of the information services provider’s stock valued at $7,871,000 after acquiring an additional 355,747 shares in the last quarter. 35.52% of the stock is owned by institutional investors.

NYSE BITA traded down $1.51 during trading on Friday, reaching $16.32. 1,241,947 shares of the company’s stock were exchanged, compared to its average volume of 764,191. Bitauto has a fifty-two week low of $16.09 and a fifty-two week high of $50.57. The firm has a market capitalization of $1.34 billion, a PE ratio of -4.77 and a beta of 2.85. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.48.

Bitauto (NYSE:BITA) last posted its quarterly earnings results on Wednesday, August 22nd. The information services provider reported $0.01 earnings per share for the quarter. Bitauto had a negative return on equity of 8.60% and a negative net margin of 15.08%. The company had revenue of $402.35 million during the quarter, compared to the consensus estimate of $398.80 million. Research analysts anticipate that Bitauto will post 0.83 EPS for the current year.

About Bitauto

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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Analyst Recommendations for Bitauto (NYSE:BITA)

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