SORL Auto Parts Inc. (SORL) Announces Earnings Results
SORL Auto Parts Inc. (NASDAQ:SORL) posted its quarterly earnings results on Monday. The company reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.01. SORL Auto Parts had a return on equity of 7.78% and a net margin of 6.82%. The company earned $61.90 million during the quarter, compared to the consensus estimate of $51.13 million. During the same period last year, the business earned $0.11 EPS.
Shares of SORL Auto Parts (NASDAQ:SORL) opened at 4.49 on Monday. The firm has a 50-day moving average price of $4.26 and a 200-day moving average price of $2.61. The firm has a market cap of $86.67 million, a price-to-earnings ratio of 5.54 and a beta of 1.72. SORL Auto Parts has a 12-month low of $1.39 and a 12-month high of $5.05.
A number of research analysts recently weighed in on the company. Zacks Investment Research raised SORL Auto Parts from a “hold” rating to a “buy” rating and set a $2.50 price objective on the stock in a research note on Thursday, August 25th. Greenridge Global downgraded SORL Auto Parts from a “buy” rating to a “hold” rating and set a $4.50 price objective on the stock. in a research note on Wednesday, September 21st.
An institutional investor recently bought a new position in SORL Auto Parts stock. KCG Holdings Inc. bought a new position in shares of SORL Auto Parts Inc. (NASDAQ:SORL) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 36,152 shares of the company’s stock, valued at approximately $137,000. KCG Holdings Inc. owned 0.19% of SORL Auto Parts at the end of the most recent reporting period. 4.88% of the stock is owned by institutional investors.
About SORL Auto Parts
SORL Auto Parts, Inc is a China-based Company through its 90% ownership of 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 (OEM), and the related aftermarket both in China and abroad.
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