Bitauto (BITA) Stock Rating Lowered by Citigroup
Bitauto (NYSE:BITA) was downgraded by investment analysts at Citigroup from a “buy” rating to a “hold” rating in a research report issued on Wednesday, The Fly reports. They presently have a $25.00 target price on the information services provider’s stock. Citigroup’s price objective would suggest a potential upside of 23.70% from the company’s current price.
A number of other equities analysts have also recently weighed in on BITA. ValuEngine upgraded Bitauto from a “sell” rating to a “hold” rating in a report on Monday, July 2nd. Zacks Investment Research upgraded Bitauto from a “strong sell” rating to a “hold” rating in a report on Monday, May 28th. CLSA cut Bitauto from an “outperform” rating to an “underperform” rating in a report on Thursday, May 3rd. TheStreet cut Bitauto from a “c-” rating to a “d” rating in a report on Wednesday, May 16th. Finally, Macquarie cut Bitauto from an “outperform” rating to a “neutral” rating in a report on Thursday, June 14th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $42.33.
NYSE BITA opened at $20.21 on Wednesday. The firm has a market cap of $1.51 billion, a PE ratio of -5.91 and a beta of 3.11. Bitauto has a twelve month low of $18.47 and a twelve month high of $54.42.
A number of institutional investors have recently made changes to their positions in BITA. Bank of New York Mellon Corp purchased a new position in Bitauto during the 4th quarter valued at about $261,000. BlackRock Inc. boosted its holdings in Bitauto by 8.2% during the 4th quarter. BlackRock Inc. now owns 359,005 shares of the information services provider’s stock valued at $11,417,000 after acquiring an additional 27,175 shares during the period. TIAA CREF Investment Management LLC boosted its holdings in Bitauto by 19.7% during the 4th quarter. TIAA CREF Investment Management LLC now owns 15,800 shares of the information services provider’s stock valued at $502,000 after acquiring an additional 2,600 shares during the period. Veritas Asset Management LLP purchased a new position in Bitauto during the 1st quarter valued at about $423,000. Finally, Dupont Capital Management Corp purchased a new position in Bitauto during the 1st quarter valued at about $264,000. Institutional investors own 33.50% 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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