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. “
A number of other equities analysts have also commented on the company. ValuEngine lowered Sorl Auto Parts from a sell rating to a strong sell rating in a research note on Tuesday, July 23rd. TheStreet lowered Sorl Auto Parts from a c rating to a d+ rating in a research note on Friday, August 16th.
Sorl Auto Parts (NASDAQ:SORL) last announced its quarterly earnings results on Wednesday, August 14th. The company reported $0.29 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.06. Sorl Auto Parts had a return on equity of 11.01% and a net margin of 2.42%. The firm had revenue of $139.37 million for the quarter, compared to analyst estimates of $120.73 million. During the same period last year, the firm posted $0.35 earnings per share. On average, sell-side analysts predict that Sorl Auto Parts will post 1.1 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Sorl Auto Parts stock. Cable Hill Partners LLC raised its holdings in Sorl Auto Parts, Inc. (NASDAQ:SORL) by 682.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,766 shares of the company’s stock after buying an additional 15,496 shares during the quarter. Cable Hill Partners LLC’s holdings in Sorl Auto Parts were worth $63,000 as of its most recent SEC filing. 5.33% of the stock is currently owned by hedge funds and other institutional investors.
About Sorl Auto Parts
SORL Auto Parts, Inc, together with its subsidiaries, develops, manufactures, and distributes automotive brake systems and other safety related auto parts to automotive original equipment manufacturers and the related aftermarket in the People's Republic of China. It operates through two segments, Commercial Vehicles Brake Systems and Passenger Vehicles Brake Systems.
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