ValuEngine upgraded shares of SORL Auto Parts, Inc. (NASDAQ:SORL) from a buy rating to a strong-buy rating in a research report sent to investors on Friday.
Separately, Zacks Investment Research downgraded shares of SORL Auto Parts from a strong-buy rating to a hold rating in a research note on Wednesday, July 19th.
SORL Auto Parts (NASDAQ SORL) opened at $6.24 on Friday. The firm has a market cap of $111.00, a P/E ratio of 4.53 and a beta of 1.73. 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 issued its quarterly earnings results on Monday, August 14th. The company reported $0.31 EPS for the quarter, missing the 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 analyst estimates of $90.61 million. research analysts anticipate that SORL Auto Parts will post 1.26 earnings per share for the current fiscal year.
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Several hedge funds have recently made changes to their positions in SORL. Dynamic Technology Lab Private Ltd purchased a new position in shares of SORL Auto Parts in the second quarter valued at $115,000. Macquarie Group Ltd. purchased a new position in shares of SORL Auto Parts in the third quarter valued at $140,000. California Public Employees Retirement System boosted its stake in shares of SORL Auto Parts by 226.5% in the first quarter. California Public Employees Retirement System now owns 54,200 shares of the company’s stock valued at $209,000 after purchasing an additional 37,600 shares during the period. MML Investors Services LLC purchased a new position in shares of SORL Auto Parts in the second quarter valued at $214,000. Finally, JPMorgan Chase & Co. purchased a new position in shares of SORL Auto Parts in the second quarter valued at $225,000. Institutional investors and hedge funds own 9.13% of the company’s stock.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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