Zacks Investment Research downgraded shares of Sorl Auto Parts (NASDAQ:SORL) from a hold rating to a strong sell rating in a research report released on Friday.
According to Zacks, “Sorl Auto Parts specializes in the development, production and distribution of air brake valves and hydraulic brake valves. It is headquartered in the Ruian District of Wenzhou City, China’s automotive manufacturing center. SORL sells its products to forty-two vehicle manufacturers, including all of the truck manufacturers in China. SORL’s customer base consists of original equipment manufacturers, aftermarket distributors, and international customers. “
Separately, ValuEngine lowered shares of Sorl Auto Parts from a strong-buy rating to a buy rating in a research note on Tuesday, December 26th.
Shares of SORL stock opened at $4.53 on Friday. Sorl Auto Parts has a 52 week low of $3.59 and a 52 week high of $9.74. The company has a market capitalization of $87.45, a PE ratio of 3.60 and a beta of 1.56.
Sorl Auto Parts (NASDAQ:SORL) last announced its quarterly earnings results on Monday, April 2nd. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.32). Sorl Auto Parts had a return on equity of 16.79% and a net margin of 8.54%. The company had revenue of $122.93 million during the quarter, compared to the consensus estimate of $103.59 million. During the same quarter in the prior year, the firm earned $0.43 earnings per share. research analysts anticipate that Sorl Auto Parts will post 1.43 EPS for the current fiscal year.
Hedge funds have recently made changes to their positions in the company. Two Sigma Securities LLC bought a new stake in shares of Sorl Auto Parts in the fourth quarter worth approximately $164,000. Two Sigma Investments LP bought a new stake in shares of Sorl Auto Parts in the fourth quarter worth approximately $221,000. Macquarie Group Ltd. bought a new stake in shares of Sorl Auto Parts in the third quarter worth approximately $140,000. Virtu Financial LLC bought a new stake in shares of Sorl Auto Parts in the fourth quarter worth approximately $656,000. Finally, Allianz Asset Management GmbH bought a new stake in shares of Sorl Auto Parts in the third quarter worth approximately $421,000. Hedge funds and other institutional investors own 8.57% 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.
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