Brokerages Set $12.90 Target Price for Cango Inc – (NYSE:CANG)

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Shares of Cango Inc – (NYSE:CANG) have received an average broker rating score of 1.00 (Strong Buy) from the two analysts that cover the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy rating.

Brokerages have set a 1 year consensus price objective of $12.90 for the company and are predicting that the company will post $0.19 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Cango an industry rank of 74 out of 256 based on the ratings given to related companies.

Separately, Zacks Investment Research upgraded shares of Cango from a “sell” rating to a “hold” rating in a research report on Thursday, March 21st.

An institutional investor recently raised its position in Cango stock. Primavera Capital Management Ltd raised its holdings in Cango Inc – (NYSE:CANG) by 21.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,243,939 shares of the company’s stock after acquiring an additional 1,089,607 shares during the quarter. Cango accounts for about 3.0% of Primavera Capital Management Ltd’s portfolio, making the stock its 4th biggest holding. Primavera Capital Management Ltd owned 4.13% of Cango worth $49,577,000 as of its most recent SEC filing. 21.88% of the stock is currently owned by institutional investors.

CANG traded up $0.01 on Monday, reaching $6.50. The company had a trading volume of 100 shares, compared to its average volume of 3,284. The firm has a fifty day moving average of $6.00. The stock has a market cap of $980.67 million and a P/E ratio of 20.98. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.15 and a quick ratio of 2.15. Cango has a one year low of $4.70 and a one year high of $13.90.

Cango (NYSE:CANG) last announced its earnings results on Tuesday, May 28th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.08). The company had revenue of $52.40 million during the quarter. Cango had a net margin of 25.02% and a return on equity of 7.96%. Sell-side analysts forecast that Cango will post 1.04 EPS for the current fiscal year.

The business also recently announced a special dividend, which was paid on Tuesday, May 28th. Investors of record on Friday, May 10th were given a $0.125 dividend. The ex-dividend date was Thursday, May 9th.

Cango Company Profile

Cango Inc operates an automotive transaction service platform that connects dealers, financial institutions, car buyers, and other industry participants in the People's Republic of China. It facilitates automotive financing services that include facilitating financing transactions from financial institutions to car buyers; automotive transactions between automotive wholesalers, dealers, and car buyers; and after-market services to car buyers.

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