StockNews.com Initiates Coverage on SIFCO Industries (NYSE:SIF)

StockNews.com began coverage on shares of SIFCO Industries (NYSE:SIF) in a report released on Wednesday. The firm set a “buy” rating on the stock.

SIFCO Industries Stock Performance

NYSE:SIF opened at $2.83 on Wednesday. The company has a market cap of $17.40 million, a PE ratio of -3.99 and a beta of 1.26. The stock has a 50-day simple moving average of $3.30 and a 200 day simple moving average of $3.74. SIFCO Industries has a 52-week low of $2.77 and a 52-week high of $5.96.

Institutional Investors Weigh In On SIFCO Industries

A hedge fund recently raised its stake in SIFCO Industries stock. Renaissance Technologies LLC boosted its stake in shares of SIFCO Industries, Inc. (NYSE:SIF) by 17.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 52,734 shares of the company’s stock after purchasing an additional 7,900 shares during the period. Renaissance Technologies LLC owned 0.85% of SIFCO Industries worth $187,000 as of its most recent filing with the SEC. Institutional investors own 24.20% of the company’s stock.

SIFCO Industries Company Profile

SIFCO Industries, Inc, together with its subsidiaries, produces and sells forgings and machined components primarily for the aerospace and energy markets in North America and Europe. The company’s processes and services include forging, heat-treating, chemical processing, and machining. It also offers original equipment manufacturer and aftermarket components for aircraft and industrial gas turbine engines; steam turbine blades; structural airframe components; aircraft landing gear components; aircraft wheels and brakes; rotating components for helicopters; and commercial/industrial products.