Sorl Auto Parts (SORL) Upgraded by ValuEngine to “Strong-Buy”
Sorl Auto Parts (NASDAQ:SORL) was upgraded by ValuEngine from a “buy” rating to a “strong-buy” rating in a research note issued on Friday.
A number of other analysts also recently issued reports on the company. Zacks Investment Research downgraded Sorl Auto Parts from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 23rd. TheStreet upgraded Sorl Auto Parts from a “c+” rating to a “b-” rating in a research report on Wednesday, November 29th. Finally, Greenridge Global set a $10.00 target price on Sorl Auto Parts and gave the stock a “buy” rating in a research note on Monday, November 20th.
Shares of Sorl Auto Parts (NASDAQ SORL) opened at $6.13 on Friday. The stock has a market capitalization of $124.90, a price-to-earnings ratio of 3.98 and a beta of 1.98. Sorl Auto Parts has a 52-week low of $2.68 and a 52-week high of $9.74.
A number of hedge funds have recently added to or reduced their stakes in the business. Allianz Asset Management GmbH purchased a new stake in Sorl Auto Parts in the third quarter worth $421,000. Navellier & Associates Inc increased its stake in Sorl Auto Parts by 19.3% in the second quarter. Navellier & Associates Inc now owns 67,285 shares of the company’s stock worth $449,000 after purchasing an additional 10,875 shares during the period. USA Financial Portformulas Corp purchased a new stake in Sorl Auto Parts in the second quarter worth $296,000. Macquarie Group Ltd. purchased a new stake in Sorl Auto Parts in the third quarter worth $140,000. Finally, JPMorgan Chase & Co. purchased a new stake in Sorl Auto Parts in the second quarter worth $225,000. Institutional investors and hedge funds own 8.27% of the company’s stock.
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About Sorl Auto Parts
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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