By early afternoon, shares had added 5.2% to $8.30.
Over the three months to March, the company earned 34 cents a share compared to 23 cents a share in the year-ago quarter. Revenue climbed 30.8% year over year to $223.6 million.
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TheStreet Ratings team rates CHINA XD PLASTICS CO LTD as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate CHINA XD PLASTICS CO LTD (CXDC) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, attractive valuation levels and solid stock price performance. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."
- You can view the full analysis from the report here: CXDC Ratings Report