SORL Auto Parts, Inc. (SORL) Upgraded to “Strong-Buy” by ValuEngine
ValuEngine upgraded shares of SORL Auto Parts, Inc. (NASDAQ:SORL) from a buy rating to a strong-buy rating in a research report report published on Tuesday.
Separately, Zacks Investment Research cut shares of SORL Auto Parts from a strong-buy rating to a hold rating in a research note on Wednesday, July 19th.
Shares of SORL Auto Parts (NASDAQ SORL) traded down 8.95% during trading on Tuesday, reaching $5.19. 801,178 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $4.24 and a 200-day moving average price of $5.72. The company has a market capitalization of $100.19 million, a PE ratio of 4.11 and a beta of 1.66. SORL Auto Parts has a 52-week low of $2.68 and a 52-week high of $9.74.
SORL Auto Parts (NASDAQ:SORL) last posted its earnings results on Monday, August 14th. The company reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.02). The business had revenue of $90.22 million during the quarter, compared to the consensus estimate of $90.61 million. SORL Auto Parts had a net margin of 7.90% and a return on equity of 14.49%. On average, equities analysts forecast that SORL Auto Parts will post $1.26 earnings per share for the current year.
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A number of institutional investors have recently modified their holdings of the business. Navellier & Associates Inc grew its stake in SORL Auto Parts by 19.3% during the second quarter. Navellier & Associates Inc now owns 67,285 shares of the company’s stock worth $449,000 after buying an additional 10,875 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in SORL Auto Parts during the second quarter worth about $115,000. MML Investors Services LLC bought a new stake in SORL Auto Parts during the second quarter worth about $214,000. JPMorgan Chase & Co. bought a new stake in SORL Auto Parts during the second quarter worth about $225,000. Finally, California Public Employees Retirement System grew its stake in SORL Auto Parts by 226.5% during the first quarter. California Public Employees Retirement System now owns 54,200 shares of the company’s stock worth $209,000 after buying an additional 37,600 shares during the last quarter. 9.68% 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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