SORL Auto Parts Inc. (SORL) Cut to “Hold” at Greenridge Global
SORL Auto Parts Inc. (NASDAQ:SORL) was downgraded by research analysts at Greenridge Global from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday. They presently have a $4.50 price objective on the stock. Greenridge Global’s price target indicates a potential upside of 4.17% from the company’s current price.
Separately, Zacks Investment Research raised SORL Auto Parts from a “hold” rating to a “buy” rating and set a $2.50 price target on the stock in a research report on Thursday, August 25th.
Shares of SORL Auto Parts (NASDAQ:SORL) traded down 10.19% on Wednesday, hitting $3.88. The company had a trading volume of 697,362 shares. SORL Auto Parts has a 12-month low of $1.39 and a 12-month high of $4.85. The company has a market capitalization of $74.90 million, a P/E ratio of 4.79 and a beta of 1.55. The firm has a 50-day moving average price of $2.56 and a 200 day moving average price of $1.94.
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SORL Auto Parts (NASDAQ:SORL) last posted its quarterly earnings results on Monday, August 15th. The company reported $0.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.19. The firm had revenue of $73.50 million for the quarter, compared to analyst estimates of $57.71 million. SORL Auto Parts had a return on equity of 7.78% and a net margin of 6.82%. During the same quarter in the previous year, the firm earned $0.12 EPS. Equities analysts expect that SORL Auto Parts will post $0.75 EPS for the current year.
About SORL Auto Parts
SORL Auto Parts, Inc is a China-based Company through its 90% ownership of 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 (OEM), and the related aftermarket both in China and abroad.
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