Sorl Auto Parts (SORL) Downgraded to Buy at ValuEngine
ValuEngine cut shares of Sorl Auto Parts (NASDAQ:SORL) from a strong-buy rating to a buy rating in a research report released on Tuesday morning.
Several other analysts also recently commented on the stock. TheStreet upgraded shares of Sorl Auto Parts from a c+ rating to a b- rating in a report on Wednesday, November 29th. Zacks Investment Research upgraded shares of Sorl Auto Parts from a hold rating to a strong-buy rating and set a $7.50 target price for the company in a report on Friday, November 24th. Finally, Greenridge Global set a $10.00 target price on shares of Sorl Auto Parts and gave the company a buy rating in a report on Monday, November 20th. One research analyst has rated the stock with a sell rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $8.75.
Sorl Auto Parts (NASDAQ SORL) traded down $0.33 during trading on Tuesday, hitting $7.02. 701,900 shares of the company’s stock were exchanged, compared to its average volume of 588,684. Sorl Auto Parts has a 12-month low of $2.68 and a 12-month high of $9.74. The company has a market capitalization of $141.89, a price-to-earnings ratio of 4.77 and a beta of 1.98.
Hedge funds have recently made changes to their positions in the company. Allianz Asset Management GmbH purchased a new stake in Sorl Auto Parts during the third quarter worth about $421,000. Macquarie Group Ltd. purchased a new stake in Sorl Auto Parts during the third quarter worth about $140,000. Navellier & Associates Inc increased its holdings 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. USA Financial Portformulas Corp purchased a new stake in Sorl Auto Parts during the second quarter worth about $296,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Sorl Auto Parts during the second quarter worth about $115,000. Institutional investors own 7.74% 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.
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