Zacks: Cango Inc – (CANG) Given Consensus Rating of “Buy” by Analysts
Cango Inc – (NYSE:CANG) has been given an average broker rating score of 1.50 (Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company.
Analysts have set a 12 month consensus target price of $12.90 for the company, according to Zacks. Zacks has also given Cango an industry rank of 74 out of 256 based on the ratings given to related companies.
Separately, Zacks Investment Research cut shares of Cango from a “hold” rating to a “sell” rating in a research note on Wednesday, November 28th.
Shares of NYSE:CANG traded up $0.06 during trading on Wednesday, reaching $7.05. The stock had a trading volume of 1,217 shares, compared to its average volume of 2,094. Cango has a 52 week low of $6.99 and a 52 week high of $13.90. The company has a current ratio of 5.62, a quick ratio of 5.62 and a debt-to-equity ratio of 0.11.
Cango (NYSE:CANG) last posted its earnings results on Thursday, November 22nd. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.03. The firm had revenue of $41.52 million during the quarter. On average, equities research analysts predict that Cango will post 0.37 earnings per share for the current year.
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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