SORL Auto Parts, Inc. (NASDAQ:SORL) Rating Increased to Strong-Buy at ValuEngine

ValuEngine upgraded shares of SORL Auto Parts, Inc. (NASDAQ:SORL) from a buy rating to a strong-buy rating in a report published on Tuesday, October 17th.

Separately, Zacks Investment Research cut SORL Auto Parts from a strong-buy rating to a hold rating in a report on Wednesday, July 19th.

Shares of SORL Auto Parts (SORL) traded up $0.06 on Tuesday, reaching $4.61. 91,207 shares of the company traded hands, compared to its average volume of 377,002. SORL Auto Parts has a fifty-two week low of $2.68 and a fifty-two week high of $9.74. The firm has a market capitalization of $87.84, a PE ratio of 3.58 and a beta of 1.73.

SORL Auto Parts (NASDAQ:SORL) last released its quarterly earnings data on Monday, August 14th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.02). The firm had revenue of $90.22 million during the quarter, compared to the consensus estimate of $90.61 million. SORL Auto Parts had a return on equity of 14.49% and a net margin of 7.90%. equities research analysts forecast that SORL Auto Parts will post 1.26 EPS for the current fiscal year.

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Several hedge funds have recently modified their holdings of SORL. California Public Employees Retirement System lifted its holdings 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 buying an additional 37,600 shares during the period. JPMorgan Chase & Co. bought a new position in shares of SORL Auto Parts in the 2nd quarter worth $225,000. AJO LP bought a new position in shares of SORL Auto Parts in the 2nd quarter worth $1,832,000. MML Investors Services LLC bought a new position in shares of SORL Auto Parts in the 2nd quarter worth $214,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of SORL Auto Parts in the 2nd quarter worth $115,000. Institutional investors and hedge funds own 9.40% of the company’s stock.

SORL Auto Parts Company Profile

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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