Sorl Auto Parts (SORL) Upgraded by ValuEngine to “Strong-Buy”

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

Several other equities research analysts have also issued reports on SORL. Zacks Investment Research upgraded shares of Sorl Auto Parts from a sell rating to a hold rating in a report on Tuesday, October 24th. Greenridge Global set a $10.00 target price on shares of Sorl Auto Parts and gave the stock a buy rating in a report on Monday, November 20th. Finally, TheStreet upgraded shares of Sorl Auto Parts from a c+ rating to a b- rating in a report on Wednesday, November 29th.

Sorl Auto Parts (NASDAQ:SORL) traded down $0.12 during trading on Friday, hitting $6.01. 214,560 shares of the stock traded hands, compared to its average volume of 343,673. The company has a market cap of $113.75, a price-to-earnings ratio of 3.90 and a beta of 1.65. Sorl Auto Parts has a 12-month low of $2.68 and a 12-month high of $9.74.

Sorl Auto Parts (NASDAQ:SORL) last released its earnings results on Tuesday, November 14th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.26. The firm had revenue of $101.33 million during the quarter, compared to analyst estimates of $63.84 million. Sorl Auto Parts had a net margin of 8.54% and a return on equity of 16.79%. During the same quarter last year, the business earned $0.17 EPS. analysts anticipate that Sorl Auto Parts will post 1.58 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd purchased a new position in Sorl Auto Parts in the 2nd quarter worth about $115,000. Macquarie Group Ltd. purchased a new position in Sorl Auto Parts in the 3rd quarter worth about $140,000. JPMorgan Chase & Co. purchased a new position in Sorl Auto Parts in the 2nd quarter worth about $225,000. USA Financial Portformulas Corp purchased a new position in Sorl Auto Parts in the 2nd quarter worth about $296,000. Finally, Allianz Asset Management GmbH purchased a new position in Sorl Auto Parts in the 3rd quarter worth about $421,000. 8.27% of the stock is currently owned by institutional investors.

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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.

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