ValuEngine Downgrades SORL Auto Parts, Inc. (SORL) to Buy
SORL Auto Parts, Inc. (NASDAQ:SORL) was downgraded by research analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a report released on Thursday.
Separately, Zacks Investment Research downgraded SORL Auto Parts from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 19th.
Shares of SORL Auto Parts (SORL) traded down 2.95% during mid-day trading on Thursday, reaching $3.95. The company had a trading volume of 558,409 shares. The stock has a market capitalization of $76.25 million, a P/E ratio of 3.12 and a beta of 1.67. SORL Auto Parts has a one year low of $2.68 and a one year high of $9.74. The firm has a 50 day moving average of $5.80 and a 200-day moving average of $5.50.
SORL Auto Parts (NASDAQ:SORL) last released its earnings results 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. The company had revenue of $90.22 million for the quarter, compared to analysts’ expectations of $90.61 million. SORL Auto Parts had a net margin of 7.90% and a return on equity of 14.49%. Analysts forecast that SORL Auto Parts will post $1.26 EPS for the current fiscal year.
Several institutional investors have recently made changes to their positions in the company. Navellier & Associates Inc lifted its position in shares of 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 in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of SORL Auto Parts in the second quarter valued at about $115,000. MML Investors Services LLC purchased a new position in shares of SORL Auto Parts in the second quarter valued at about $214,000. JPMorgan Chase & Co. purchased a new position in shares of SORL Auto Parts in the second quarter valued at about $225,000. Finally, California Public Employees Retirement System lifted its position 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 acquiring an additional 37,600 shares in the last quarter. Institutional investors and hedge funds own 9.68% 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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