SORL Auto Parts, Inc. (SORL) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of SORL Auto Parts, Inc. (NASDAQ:SORL) from a sell rating to a hold rating in a research note released on Thursday.

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 SORL Auto Parts from a buy rating to a strong-buy rating in a research note on Friday, June 2nd.

SORL Auto Parts (NASDAQ SORL) opened at 3.87 on Thursday. The company has a market capitalization of $74.71 million, a price-to-earnings ratio of 3.06 and a beta of 1.67. SORL Auto Parts has a 52-week low of $2.68 and a 52-week high of $9.74. The company’s 50-day moving average price is $5.70 and its 200 day moving average price is $5.49.

SORL Auto Parts (NASDAQ:SORL) last issued its quarterly earnings data on Monday, August 14th. The company reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by $0.02. SORL Auto Parts had a return on equity of 14.49% and a net margin of 7.90%. The company had revenue of $90.22 million for the quarter, compared to the consensus estimate of $90.61 million. On average, equities analysts expect that SORL Auto Parts will post $1.26 EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “SORL Auto Parts, Inc. (SORL) Rating Increased to Hold at Zacks Investment Research” was originally reported by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this piece of content on another site, it was stolen and republished in violation of US & international trademark and copyright law. The original version of this piece of content can be viewed at https://sportsperspectives.com/2017/09/11/sorl-auto-parts-inc-sorl-rating-increased-to-hold-at-zacks-investment-research.html.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SORL. California Public Employees Retirement System grew its stake in shares of 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 valued at $209,000 after buying an additional 37,600 shares during the last quarter. JPMorgan Chase & Co. bought a new position in shares of SORL Auto Parts during the second quarter valued at approximately $225,000. AJO LP bought a new position in shares of SORL Auto Parts during the second quarter valued at approximately $1,832,000. MML Investors Services LLC bought a new position in shares of SORL Auto Parts during the second quarter valued at approximately $214,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of SORL Auto Parts during the second quarter valued at approximately $115,000. 9.68% of the stock is currently owned by hedge funds and other institutional investors.

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.

Get a free copy of the Zacks research report on SORL Auto Parts (SORL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for SORL Auto Parts Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SORL Auto Parts Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply