Bitauto (BITA) Upgraded to “Sell” by ValuEngine

Bitauto (NYSE:BITA) was upgraded by analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a note issued to investors on Monday.

A number of other equities research analysts also recently weighed in on BITA. Citigroup downgraded shares of Bitauto from a “buy” rating to a “hold” rating and set a $25.00 price target for the company. in a report on Wednesday, August 15th. Zacks Investment Research downgraded shares of Bitauto from a “hold” rating to a “sell” rating in a report on Wednesday, July 4th. Macquarie cut their price target on shares of Bitauto from $29.00 to $23.00 and set a “hold” rating for the company in a report on Thursday, August 23rd. MED assumed coverage on shares of Bitauto in a report on Monday, October 1st. They issued a “hold” rating for the company. Finally, JPMorgan Chase & Co. assumed coverage on shares of Bitauto in a report on Wednesday, August 29th. They issued an “overweight” rating and a $38.00 price target for the company. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $35.50.

BITA traded up $1.40 on Monday, reaching $20.49. The company had a trading volume of 481,800 shares, compared to its average volume of 1,105,685. The firm has a market capitalization of $1.37 billion, a PE ratio of -5.99 and a beta of 3.23. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.48. Bitauto has a one year low of $18.01 and a one year high of $53.37.

Bitauto (NYSE:BITA) last announced its earnings results on Wednesday, August 22nd. The information services provider reported $0.01 earnings per share (EPS) for the quarter. The firm had revenue of $402.35 million during the quarter, compared to analyst estimates of $398.80 million. Bitauto had a negative net margin of 15.08% and a negative return on equity of 8.60%. On average, equities analysts expect that Bitauto will post 0.24 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of BITA. Cornerstone Wealth Management LLC purchased a new stake in Bitauto during the third quarter valued at about $5,221,000. Northern Trust Corp lifted its stake in Bitauto by 8.5% during the second quarter. Northern Trust Corp now owns 29,643 shares of the information services provider’s stock valued at $705,000 after buying an additional 2,323 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in Bitauto by 36.7% during the second quarter. Public Employees Retirement System of Ohio now owns 10,800 shares of the information services provider’s stock valued at $257,000 after buying an additional 2,900 shares in the last quarter. Jane Street Group LLC purchased a new stake in Bitauto during the second quarter valued at about $290,000. Finally, 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 valued at $104,024,000 after buying an additional 2,010,200 shares in the last quarter. 35.21% of the stock is owned by institutional investors.

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

Analyst Recommendations for Bitauto (NYSE:BITA)

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