Sorl Auto Parts (SORL) Downgraded by ValuEngine
Sorl Auto Parts (NASDAQ:SORL) was downgraded by stock analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Tuesday.
A number of other brokerages have also weighed in on SORL. Greenridge Global set a $10.00 target price on shares of Sorl Auto Parts and gave the company a “buy” rating in a research note on Monday, November 20th. Zacks Investment Research lowered Sorl Auto Parts from a “hold” rating to a “sell” rating in a research note on Thursday, August 24th. Finally, TheStreet upgraded Sorl Auto Parts from a “c+” rating to a “b-” rating in a research note on Wednesday, November 29th. One equities research analyst has rated the stock with a sell rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $8.75.
Shares of Sorl Auto Parts (NASDAQ:SORL) traded down $0.33 on Tuesday, reaching $7.02. 701,925 shares of the company’s stock were exchanged, compared to its average volume of 588,684. The stock has a market cap of $138.61, a price-to-earnings ratio of 4.66 and a beta of 1.98. Sorl Auto Parts has a 1-year low of $2.68 and a 1-year high of $9.74.
Several large investors have recently bought and sold shares of SORL. Navellier & Associates Inc purchased a new stake in shares of Sorl Auto Parts in the 3rd quarter worth $230,000. Renaissance Technologies LLC increased its stake in shares of Sorl Auto Parts by 234.0% in the 4th quarter. Renaissance Technologies LLC now owns 156,000 shares of the company’s stock worth $474,000 after purchasing an additional 109,300 shares in the last quarter. California Public Employees Retirement System increased its stake in shares of Sorl Auto Parts by 226.5% in the 1st quarter. California Public Employees Retirement System now owns 54,200 shares of the company’s stock worth $209,000 after purchasing an additional 37,600 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Sorl Auto Parts in the 2nd quarter worth $225,000. Finally, AJO LP purchased a new stake in shares of Sorl Auto Parts in the 2nd quarter worth $1,832,000. Hedge funds and other institutional investors own 7.74% of the company’s stock.
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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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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