SORL Auto Parts, Inc. (SORL) Stock Rating Upgraded by Zacks Investment Research
SORL Auto Parts, Inc. (NASDAQ:SORL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Sorl Auto Parts specializes in the development, production and distribution of air brake valves and hydraulic brake valves. It is headquartered in the Ruian District of Wenzhou City, China’s automotive manufacturing center. SORL sells its products to forty-two vehicle manufacturers, including all of the truck manufacturers in China. SORL’s customer base consists of original equipment manufacturers, aftermarket distributors, and international customers. “
Separately, ValuEngine raised shares of SORL Auto Parts from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 17th.
Shares of SORL Auto Parts (NASDAQ SORL) opened at 4.50 on Tuesday. The stock has a market capitalization of $86.87 million, a P/E ratio of 3.56 and a beta of 1.66. The stock has a 50 day moving average price of $4.38 and a 200 day moving average price of $5.78. SORL Auto Parts has a one year low of $2.68 and a one year high of $9.74.
SORL Auto Parts (NASDAQ:SORL) last released its quarterly earnings results on Monday, August 14th. The company reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.02). The firm had revenue of $90.22 million for the quarter, compared to analysts’ expectations of $90.61 million. SORL Auto Parts had a net margin of 7.90% and a return on equity of 14.49%. Equities analysts forecast that SORL Auto Parts will post $1.26 earnings per share for the current year.
Several hedge funds have recently added to or reduced their stakes in the company. Navellier & Associates Inc raised its position in shares of SORL Auto Parts by 19.3% during the 2nd quarter. Navellier & Associates Inc now owns 67,285 shares of the company’s stock valued at $449,000 after buying an additional 10,875 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of SORL Auto Parts during the 2nd quarter valued at approximately $115,000. MML Investors Services LLC purchased a new stake in shares of SORL Auto Parts during the 2nd quarter valued at approximately $214,000. JPMorgan Chase & Co. purchased a new stake in shares of SORL Auto Parts during the 2nd quarter valued at approximately $225,000. Finally, California Public Employees Retirement System raised its position in shares of SORL Auto Parts by 226.5% during the 1st quarter. California Public Employees Retirement System now owns 54,200 shares of the company’s stock valued at $209,000 after buying an additional 37,600 shares during the period. 9.45% of the stock is currently owned by hedge funds and other institutional investors.
SORL Auto Parts Company Profile
SORL Auto Parts, Inc, through its interests in the Ruili Group Ruian Auto Parts Co, Ltd., a Sino-foreign joint venture (Joint Venture), develops, manufactures and distributes automotive brake systems and other safety related auto parts to automotive original equipment manufacturers (OEMs), and the related aftermarket both in China and abroad.
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