SORL Auto Parts, Inc. (SORL) Upgraded by ValuEngine to “Strong-Buy”

ValuEngine upgraded shares of SORL Auto Parts, Inc. (NASDAQ:SORL) from a buy rating to a strong-buy rating in a research note issued to investors on Friday morning.

Separately, Zacks Investment Research raised SORL Auto Parts from a sell rating to a hold rating in a research note on Wednesday, August 30th.

SORL Auto Parts (NASDAQ:SORL) traded up $0.42 during midday trading on Friday, hitting $5.75. The stock had a trading volume of 582,700 shares, compared to its average volume of 358,962. The firm has a market cap of $111.00, a PE ratio of 4.53 and a beta of 1.73. SORL Auto Parts has a one year low of $2.68 and a one year high of $9.74.

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

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Several institutional investors have recently made changes to their positions in the stock. Macquarie Group Ltd. acquired a new stake in shares of SORL Auto Parts during the third quarter worth $140,000. Navellier & Associates Inc grew 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 valued at $449,000 after acquiring an additional 10,875 shares during the period. USA Financial Portformulas Corp acquired a new position in SORL Auto Parts in the second quarter valued at about $296,000. Dynamic Technology Lab Private Ltd acquired a new position in SORL Auto Parts in the second quarter valued at about $115,000. Finally, MML Investors Services LLC acquired a new position in SORL Auto Parts in the second quarter valued at about $214,000. 9.40% of the stock is owned by institutional investors and hedge funds.

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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